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Premium bedding sales may stage a comeback

David Perry, Executive editor -- Furniture Today, January 18, 2010

In the category of “if three people say the same thing it's a trend,” we present an emerging trend for 2010: Premium bedding will stage a comeback.

The seeds of that trend were planted in the comments recently made to us by three executives who focus on the premium market: Rick Anderson, Earl Kluft and Avi Barssessat. Each of those execs made a case that better days lie ahead for the hard-hit premium market, and they even made some of the same points. That sounds like a trend.

Anderson, president of Tempur-Pedic North America, says that premium consumers “will be the first to return to the market” this year. In addition, he says, “there will be an ever-increasing number of premium consumers who simply cannot delay the purchase of a new mattress any longer.”

Kluft, president of E.S. Kluft, says the luxury consumer “is starting to feel more confident about making bolder purchases again.” He continued: “They are still hesitant about having a fractional share of the jet or an ultra-luxury vehicle, but they are not willing to sacrifice sleep with a less than ultra-luxury mattress.”

And Barssessat, CEO of Hollandia International, struck the same note: “I suspect that our (luxury) customer will be back in the market sooner, more reflective of the rebound of the stock market …Bedding, even in the luxury sector, is a more 'responsible' spend during tough economic times and we see a scenario where the higher-end customer will spend money on their homes before restoring more expensive vacations or other luxury goods.”

Those are interesting comments. The execs see the premium consumer as leading bedding's comeback this year. That consumer may be holding off on some luxury purchases, but can no longer postpone a new sleep set, according to the execs.

Some premium consumers have clearly been sitting on their wallets during bedding's recent recession, but there are reports of high-end successes such as the new Stearns & Foster line and the Beautyrest Black line.

As we all know, however, the market has taken a pronounced turn to traffic-building price points. Can the industry shake that powerful but dangerous addiction? We would love to think so, but old habits die hard, as they say.

There is still considerable caution about business prospects this year. But we do think it's a good sign that three executives who serve the premium market, in comments shared independently with us, see their customers as getting ready to replace worn-out beds. That may be a slender reed to grasp, but we need some good news this year.

Contact David Perry at dperry@reedbusiness.com

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