A cursory search for a key weapon (aka the mattress) in the arsenal of every ‘sleepyhead’ was revelatory, to say the least.
Meet an industry, that is at a certain level no different from the countless similar legacies: in the midst of an evolution. But. At another level, a symbol of quality of life.
Never before heard of brands are seeking more than a one night stand. And commercially, that seems to make perfect sense.
The classic, almost cliched story of a large (~ $2-3 billion dollars) unorganized high growth (~ 10% CAGR) market meeting ‘proven’ in the west model of disruption (think: Casper, the company that shook the US mattress industry).
What’s the pitch? The pattern adhering, usual speak of superior quality, service democratized through a direct-to-consumer approach.
Today, the online mattress market is at measly 1-1.5%: which is a mouth-watering opportunity for any self-respecting investor.
And boy their sure are enough and more ‘bed-in-a-box’ players to go around. From Emma (a European brand being led by Abhinav Kumar of Trivago fame/infamy) to Wakefit, Sunday, SleepyCat, and who(?) knows how many more.
All singing an uncannily familiar tune,
- An uncomplicated, buying experience. I.e., in most cases, you’ll land on a SINGLE easy to customize product page (like so on, Emma).
- Don’t take our word for it. Trials of anywhere between 30 to 100 days.
- A 3-year to a lifetime warranty.
- Claims of superior technology: memory foam, breathable/cool fabric.
- Sustainable: made with eco-friendly and non-toxic materials.
- Financial innovation through digital payments, EMI options.
All six of the above are convincing arguments neatly packaged on UX ‘woke’ websites.
Reading the state of affairs, one could even say that mass acceptance of this phenomena isn’t a pipe dream. Its time does seem to have come. And why would it be? After all, this, is nothing more than a pilot. New-age companies will raise more, make investments in brand and consumer education.
At that point, what incentive would you have to deal with the current system propagated, championed by the likes of Kurl-on and Sleepwell? None.
The problem is as the traditional outfits focus on organizing the fragmented (the transition from unbranded to branded), they’re poised to be disrupted in the very market they themselves played a major role in developing.
Unless. Of course. They decide to radically re-imagine themselves and their business models, get ahead of this curve. And, no, that does NOT mean being available on Amazon or launching an e-store. On the contrary, it is a sign that suggests the need to actively participate in the shift from being mattress companies to being sleep/sleep solution companies (For example, did you know Wakefit helps organisations set up nap rooms in their campuses?). Thereby, riding on the ‘wellness’ bandwagon.
For, little did Serta, Simmons and Sealy (the top three players in US market) realize that post the launch of Casper (the largest of the new-age mattress companies): the most growth either of them would see would = ~ 0.4% (2014-18).
One can only hope that yesterday’s (in the context of India) sleep experts, wake up.