ISPA Statistics Committee provides useful industry figures as free member benefit
BY BETH ENGLISH
For members of the International Sleep Products Association, that information is provided regularly in the form of monthly and annual reports, as well as biannual forecasts produced by the Statistics Committee.
“The mattress industry is unusual in that it has a long history of publishing comprehensive data based on direct responses from an overwhelming majority of respondents,” says Ryan Trainer, ISPA president. “ISPA members should be proud that they share data with our consultants, which advances the common good. That’s the essence of what trade associations and their members should do.”
The Statistics Committee, comprised of a broad cross-section of industry veterans, oversees and vets a number of these reports throughout the year.
Most ISPA members are familiar with Bedding Barometer, a monthly report that culls data from a survey of 13 mattress manufacturers, which represent 70% of unit sales and 78% of dollar sales. It gives those in the industry a sense of how bedding sales are faring compared with the same month the previous year.
The committee also publishes the Annual Report of Sales and Trends. In addition to the 13 mattress manufacturers surveyed for Bedding Barometer, all manufacturers are asked to participate in the annual survey.
“It’s a wealth of information,” says Leigh Salyer, chair of the committee and group vice president for sales and demand management of Leggett & Platt Inc., headquartered in Carthage, Missouri. “It’s a great representation of what’s actually happening. We hope members use it. We certainly do. We look at trends and volume, (and decide) what products need to be in the marketplace.”
The committee meets twice a year, once in person and once via conference call, to work on the biannual forecast. ISPA’s econometric model, combined with an outlook on the general economy created by the University of Michigan, is used by the committee as it crafts a forecast.
“We take our individual company hats off and have a great discussion,” Salyer says. “It represents what we see going on in the industry. And we’ve got a good track record. Since 2010, our forecasts have come within 3% of actual industry results.”
In addition to these statistical tools, wage and profitability surveys provide a way for companies to compare their company’s performance with aggregate data for their peers.
“Participants tell us that these are among the most useful statistical tools we provide,” Trainer says. “All of that is free to ISPA members. All they need to do is to complete a survey questionnaire.”
The aggregate data also can be purchased by nonparticipating members. The profitability survey is available to both U.S. and non-U.S. members; however, the wage survey is limited to U.S. members.
Salyer notes that all of the survey data is gathered by a third party, and the committee only sees the data on a collective basis, so all answers are confidential.
The industry is continually changing, and the Statistics Committee wants to make sure it’s reporting on what the industry needs. For example, a few years ago the committee added sales of adjustable bed bases to its annual report. “Those were tough numbers to get, but we thought it was useful information to publish,” Salyer says.
To make recommendations for additions or changes to the reports, contact Trainer at [email protected] or Jane Oseth, ISPA member services manager, at [email protected].
Statistics Committee members
■ Leigh Salyer, chair | Leggett & Platt Inc.
■ John Ambler | Ambler Consulting
■ Rick Anthony | HSM Solutions
■ Kim Cobb | Corsicana Bedding
■ John Davis | Tempur Sealy International
■ Mike Egart | Association Research Inc.
■ Jerry Epperson | Mann, Armistead & Epperson Ltd.
■ Ronnie Ford | Atlanta Attachment Co. Inc.
■ Jason Kelley | Park Place Corp.
■ Bob Parker | Restonic
■ David Schwantes | Select Comfort Corp.
■ Ed Scott | Wickline Bedding Enterprise
■ ISPA staff | Ryan Trainer, president
