Investment bank and financial services firm Piper Sandler recently released its September Mattress Retailer Survey. Based on information from 12 to 15 retailers representing approximately 600 stores in the United States, its report provides a snapshot of the bedding industry at large.
According to the company, sales in September were “disappointing” at -8.9%/-6.0% on a mean/median basis. Piper Sandler attributes the downturn to several factors: an earlier Labor Day Weekend than usual which generated some earlier sales in August; reduced advertising spend due to an election year; and an overall decrease in large ticket mattress sales. Despite this, Piper Sandler states they “remain optimistic for improved sales after Election Day and solid year over year growth in 2025 and 2026 driven by lower interest rates and increased advertising.”
Piper Sandler’s sales forecast for the remaining quarter of 2024 has a bearish outlook due to continued weakness ahead of the election, forecasting -2.9%/+1.0% year over year on a mean/median basis.
Read our previous Piper Sandler report at Piper Sandler’s Labor Day Weekend Report.
