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September Mattress Sales Strong, Units Down, Survey Finds

Mattress sales growth was strong in September, but unit sales were down compared to the same month last year as the industry saw the impact of price inflation and a shift to premium goods, a new survey says.

Piper Sandler’s September Mattress Retail Survey, which reflects the views of mattress retailers across the country, found that participating retailers reported total sales growth in September of a mean of 17%, the same figure retailers reported for total sales growth in August. Total unit sales in September were down by a mean of 5%, while the average unit price was up by a mean of 24%.

That strong average unit price growth benefits from price inflation of 10% to 15% and a shift to premium lines, Piper Sandler says.

The retailers reported total year-over-year sales growth for the third quarter of a mean of 15%.

The September survey also looks to the fourth quarter and to 2022, finding that retailers are upbeat about business prospects in the months and year to come.

For the fourth quarter, the retailers are estimating sales to be up by 10% to 12%, representing two-year growth of about 25%. For 2022, retailers are now estimating sales growth of 10%.

That 2022 estimate is “somewhat stronger than expected,” Piper Sandler says. “We believe sales growth in 2022 would likely be average selling price driven, as we expect unit growth to be flat to down year over year.”

Piper Sandler describes the outlook for the fourth quarter and for 2022 as “healthy.”

The survey also looks at adjustable bed attachment rates, a figure that retailers continue to watch closely. Piper Sandler says that the percentage of mattress units to which retailers are attaching an adjustable base was a mean of 24% in the September survey, slightly ahead of the 23% attachment rate the survey found in August of 2019.

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