Piper Sandler bedding retailer survey finds 22% drop in units but 16% gain in average…
Piper Sandler survey finds mixed expectations about business in first quarter of 2023.
Mattress retailers saw a slight improvement in business in December, but sales dollars still fell by a mean of 6%, a new survey says.
Piper Sandler’s December Mattress Retailer Survey notes that the December decline was an improvement over the double-digit dollar declines seen in the October and November surveys.
Unit sales fell by a mean of 11% in December, while the average unit price was up by a mean of 6%. The fourth quarter was down by a mean of 11% in dollars.
The New York-based firm, which checks in with retailers across the country for its monthly survey, found mixed expectations about business in the first quarter of 2023, with about half of the retailers expecting growth and half of the respondents expecting continued declines in the new year.
Overall, the retailers see first quarter growth of a mean of 0% and a median of 4%. For the full year they see sales growth up by a mean of 3% and a median of 5%.
For 2022, sales were down by a mean of 6% and a median of 10%.
Piper Sandler asked retailers to break out their results by mattress type, finding that innerspring sales were down by a mean of 9% for 2022, hybrid sales were up by a mean of 9% for the year, and foam sales were down by a mean of 7% for the year.
The firm also asked retailers about sales mix by mattress type for 2022. It found that retailers said innerspring mattresses enjoyed a mean share of 37%, compared to hybrids with a mean share of 29% and foam mattresses with a mean share of 27%.