By Alan Wolf, YSN
In a recent survey of independent home furnishings dealers, 85 percent said first-quarter mattress sales accelerated over the same period last year, and 80 percent anticipate continued sales strength through the current quarter.
By comparison, only 60 percent of respondents polled in the fourth quarter of 2020 reported higher year-over-year sales.
The Independent Bedding Retailer Survey, conducted by financial services firm Raymond James and reported by FurnitureToday, spanned some 460 retailers across the country.
The increase represents the highest percentage of respondents citing mattress sales gains since the survey was launched in 2017. The sharp increases can be attributed in large measure to last year’s COVID-mandated store closures, which impacted 88 percent of those polled.
The latest survey also reflects the supply chain challenges that have hobbled the home furnishings industry. Nearly two-thirds of the dealers said they have experienced supply chain problems with all their brands, and over 90 percent have been hit with price increases from bedding suppliers. As a result, two-thirds of the respondents reported higher average unit selling prices for mattresses compared to the year-ago period, and fully half had expected additional price hikes in the first quarter.
The strongest performing price points were over $1,000 for 80 percent of the dealers surveyed, while a third pointed to $2,000-plus models as their most popular sellers.
“Despite the industry-wide supply chain issues, our survey supports our view that U.S. bedding demand was strong again in [the first quarter],” the financial firm said.
Hat tip to FurnitureToday.