Survey Turns up Strong Support for Queen Beds at $1,000-Plus
July 22, 2011-- Furniture Today,
There's more good news in the mattress survey we conducted with our friends at HGTV. This news relates to some very nice sales tickets that are in the offing for bedding retailers this year.
We continue to be critical of the industry's practice of touting low-ball queen prices like $299 and $399, a trend that just makes it that much harder to sell consumers the better beds that they really want, in our view.
This latest research gives us hope that the industry can go down a different road altogether - the road to higher prices, better beds and, ultimately, better sleep.
Take a close look at the queen price points we catalog in the table above. Note that only 6% of the survey respondents are planning to spend less than $500 for a queen sleep set. That small number tells us that retailers who tout $299 beds are out of step with the prices most consumers expect to spend.
We are encouraged that so many consumers are lining up behind queen sleep sets priced at $1,000 and up. Almost half of the consumers - a startling 47% - say they are planning to spend $1,000 or more, with 26% of the consumers, the largest single group, focusing on price points from $1,000 to $1,199. This is very good news for the industry.
Rather than continue the "Race to Zero," as one producer memorably described the push toward lower price points, the industry should embrace the fact that many consumers are willing to spend $1,000 or more for a new sleep set.
Mattress Metrics is a regular column of statistical analysis by David Perry, bedding editor. Ideas for future coverage can be shared with Dave at firstname.lastname@example.org.
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