Rick Sterzer explains how his company’s Sleep Essentials help retailers cross the goal line.
Transcript
Dave Perry
Now. Do we need some quiet in the showroom?
Rick Sterzer
We got some good background.
Dave Perry
Yeah, there’s a vibe.
Dave Perry
Hey, it’s Dave Perry. Welcome to another. “Take 5 With Dave”. I’m with Rick Sterzer of Rize. Rize is rising in the sleep essential category. Tell me what you’re doing, Rick.
Rick Sterzer
Oh, we’re doing some great things. First of all, thanks, Dave, for being here. It’s good to see you again and again. Looking forward to a busy market. So a lot of exciting things here at Rize, really looking and thinking about the evolution of sleep and as an industry, it has evolved over the last 20 years. And you go back 20 years ago, we sold mattresses that evolved into a sleep experience, that invited adjustable bases.
It invited top of bed, it invited pillows, other items. But we don’t take that customer all the way to the end in terms of the sleep experience. So what we’re excited about is Rize a new line of sleep essentials that really complete the sleep experience for that consumer coming in. There is multi-billion dollars worth of business being done in sleep essentials that’s not taking place in store.
And as we evolve as an industry, it’s important that we complete that final mile of sleep, which is these sleep essential items.
Dave Perry
Tell me what some of these items are.
Rick Sterzer
Oh, we’ve got diffusers. A couple of different diffusers. Noise diffuser and white noise bird chirping. So things like that. Sleep essential oils. We have essential oils. Yeah, we have silk masks, candles, self-heating eye masks, silk pillowcases. So we have a number of items that are being purchased. And what’s amazing when you go into like a CVS or a Rite Aid, how much space these items take up.
And so we’re allowing that consumer who comes into our retail space looking for a solution for sleep, we’re allowing them to exit and purchase these items elsewhere.
Dave Perry
Well, I think one of the things you said I think is so profound. Mattress retailers should own sleep, shouldn’t they?
Rick Sterzer
Absolutely.
Dave Perry
And this is how you can own sleep all the way to the goal line.
Rick Sterzer
That’s absolutely right. We are about completing that sleep experience right now. We get them into our space and we get them to the ten-yard line. And then we never store that, you know, take them that final ten yards for the score. So this allows us to really complete that sleep experience for the customer. And not only that, I think there’s an element of this which is not only solving the sleep solutions and providing the sleep solutions for the customer, but it’s about the experience in store with the diffusers, the sense the aroma does have an eye masks help customers experience the product in a uniquely different way.
So there’s a big element of this. It’s beyond just a solution for the consumer. It’s the experience in store that has tremendous value as well.
Dave Perry
Well, I think a final my final quick thought on this is these are also very affordable products. These could be impulse buys.
Rick Sterzer
These absolutely is what they are. They’ll be impulse buys these products retail between $15 and $80. So a lot of this is items that may be displayed at checkout, discussed at checkout, or ideally displayed throughout the showroom and offered as part of that experience in that selling process.
Dave Perry
Yeah, well, this is really exciting and I love how you’re taking the category all the way to the goal line. So good for you, my man. Thank you. Great seeing you again. Appreciate it. Thank you.
