Minneapolis-based investment bank and financial services firm Piper Sandler released the results of its December Mattress Retailer Survey, which offers a snapshot of mattress retailers and sales from across the United States. Most notably, it shows that November and December were the two best sales performances of 2023, with December sales “-1.6% on a mean basis and -3% on a median basis, which was essentially in line with November,” according to the report. After November, December was the second-best month in the survey for all of 2023.
The report also states “January appears to be off to a decent start as retailers forecast for first quarter sales to be +3% or +4% on a mean/median basis.” This positive sign supports retailers’ projections for 2024, with estimates that sales will grow 5% year over year. According to the company, after 2.5 years of industry unit declines, it believes that “mattress demand is stabilizing and trending toward improvement in the months ahead.” As for sales mix, innerspring mattresses had the largest market share at 39%, with hybrid accounting for 33% of the market, followed by foam at 29%. Interestingly, however, innerspring mattresses declined 12% overall, hybrid grew 13% and foam declined 15%.
