Big 5 producers likely to stick with current warranties
By Larry Thomas -- Furniture Today, May 7, 2007
Grapevine, Texas — The hodgepodge of mattress warranties that currently range from one year to 30 years is not likely to change anytime soon, according to a group of executives from the nation's five largest bedding producers.
Speaking during a panel discussion at Furniture/Today's Bedding Conference here, each executive indicated that existing warranty programs at their company appear to be effective and won't undergo major changes.
"We want retailers to use the warranties where it will best help their business," said Bob Sherman, president of Serta, which has a 30-year warranty on its Vera Wang licensed products.
Rick Anderson, president of visco-elastic foam stalwart Tempur-Pedic, said the advanced technology and higher prices of his company's mattresses justify a longer warranty — 20 years on most Tempur-Pedic bedding.
"We're selling a very high-priced product," Anderson told attendees. "And I think consumers expect a longer warranty."
Joining Anderson and Sherman on the panel were Spring Air President Jim Nation, Simmons Chairman Charlie Eitel, and Phillip Dobbs, senior vice president of marketing at Sealy.
Eitel and other panelists noted that shorter warranties are more common on promotionally priced products — three years on the Simmons Deep Sleep line, for example — and all agreed with Anderson's contention that consumers expect longer warranties on more expensive product.
Nation said recent consumer research by his company produced some surprising results, namely that a warranty is an important factor in the purchase decision.
"Our research did not reach the conclusion that we expected," he acknowledged. "I was surprised ... because it concluded that a shorter warranty may give (consumers) less confidence in the product."
The panel also discussed a variety of other topics, including retail sales training, the new federal fire-safety regulations and the business outlook for the rest of the year.
"I think it's going to be a good year," Sealy's Dobbs said. "What really excites me about this industry are the great growth opportunities that are present in spite of a soft economy."
Eitel said he believes improved retail sales training will help boost sales in the long term and improve the industry's image with consumers.
"Buying a mattress is still not a good experience, on balance," he told the audience.
Serta's Sherman agreed, but said it's up to store owners and managers to do the bulk of the training.
"It's not up to the manufacturer to teach your salespeople to sell," he said in response to a question from a retailer in the audience. "It's really the responsibility of the retailer. We only provide information."
