HIGH POINT — Bedding specialty stores held on to their place atop Furniture Today’s Top 25 Bedding Retailers list, although the direct-to-consumer category gained some ground.
Based on 2022 sales figures, bedding specialists, which include No. 1 Mattress Firm, No. 3 Sleep Number and No. 10 Tempur Sealy, among others, accounted for 34.2% of the $17.95 billion in bedding-related revenue among the 25 retailers and etailers that make up the list. That’s a slight increase from the 34.1% share that group claimed last year when bedding sales topped $18.1 billion.
However, DTC companies upped their share to 29.2% from 27.6%, led by retailing giant Amazon, which was second on the list with an estimated $2.1 billion in sales.
New to the DTC roster this year is 3Z Brands with estimated sales of $400 million. 3Z represents several popular online mattress brands — Brooklyn Bedding, Helix, Birch by Helix and Bear — and with its recent acquisitions of Lessa Sleep and Nolah, its rank on the Top 25 could rise next year from its current No. 16 slot.
Traditional furniture retailers, which accounted for 14.1% of Top 25 sales last year, fell to a 12.8% share based on 2022 sales. Many traditional furniture stores in general saw sales drop in 2022 as consumers pivoted from spending on outfitting their homes to traveling and socializing, post-pandemic.
Franchise Group, which encompasses American Freight, Badcock Home Furniture and lease-to-own retailer Buddy’s Home Furnishings, was among those registering a year-over-year decline, which dropped it to No. 25 from No. 22 on the list. No. 15 Raymour & Flanigan also reported lower bedding sales in 2022, as did No 23 Dufresne Spencer Group.
Discount department stores also dropped in share — from 9.2% in 2022’s report to 8.7% this year — because of the sales decline from Big Lots, which fell three spots to No. 13.
The other player in that category, Walmart, which includes its warehouse club division Sam’s Club, saw its numbers rise slightly based on Sam’s Club’s performance. That boosted it to No. 4 from No. 5 last year, swapping places with the only manufacturer-branded retailer on the list, Ashley.
A recalculation of Purple’s 2021 sales numbers accounts, in part, for its lower position on this year’s list. In addition, the percentage of revenue coming from retail dropped to about 57% from around 65%, while its percentage of wholesale business grew proportionately. Purple did increase its store count significantly, going from 30 showrooms to 55.
Methodology
Furniture Today’s exclusive Top 25 Bedding Retailers ranks the leading U.S. bedding retailers and etailers by 2022 sales within those categories. Bedding is defined as mattresses, foundations and adjustable bed bases but excludes bed linens, pillows, mattress pads and toppers.
All sales figures are Furniture Today/Strategic Insights market research estimates. Data is based on fiscal year-end information. This ranking is by no means comprehensive and doesn’t represent the entire industry. More than 25 retailers are vital companies within the bedding industry. Furniture Today/Strategic Insights may choose to exclude some companies because of lack of information.
The Top 25 crosses all formats for bedding retailing, including those that sell exclusively or primarily online or on air. Channels may include bedding specialty stores (BS), department stores (DS), direct-to-consumer retailers (DTC), discount department stores (DDS), lifestyle furniture stores (LFS), manufacturer-branded stores (MBS), traditional furniture stores (TF) and warehouse membership clubs (WC).
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