In a world where online shopping is dominating, and giants like Amazon reign supreme, you might wonder: why do mattress stores still exist? Well, my friends, the mattress industry has its own unique secrets, and the brick-and-mortar stores are holding their ground with some fascinating strategies. Here are 7 ways on how do mattress stores stay in business.
First: The Battle of Competition.
Just like the fast-food joints lining your town’s streets, mattress stores face fierce competition. Your local mattress store is likely surrounded by two or three rivals, making it crucial for them to stand out. To win the race, these stores focus on hiring top-notch salespeople and keeping their prices competitive. Regardless of size, they understand the need to deliver not just quality but also unbeatable service. That’s why when you walk into a mattress stores their salespeople are super nice and friendly.
Second: The Rise of Online Allies.
Surprisingly, online mattress retailers aren’t adversaries but allies in keeping traditional stores afloat. During festive seasons, all mattress retailers, both online and offline, join the sale bonanza. While online stores offer a vast selection, brick-and-mortar stores provide the advantage of in-person exploration and comparison. The online surge has indeed affected physical stores, but they’ve adapted, acknowledging the changing landscape.
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Third: Overhead Hurdles and Low Inventory Tricks.
Walking into a mattress store reveals a world where profits depend on infrequent purchases – people don’t buy mattresses every day. High overheads make survival challenging, but mattress stores have a unique model. They don’t stock massive inventories; instead, they ship directly from manufacturers. With a lean staff that works on commission, they operate efficiently, even in less lucrative markets.
Fourth: Commission-Based Stamina.
In a world of online shopping dominance, mattress stores are still relevant because of their commission-based model. Employees are motivated to make sales, and this model allows stores to operate for extended hours, catering to a diverse customer base. Selling just a few beds a day can generate substantial income, ensuring longevity even in less profitable markets.
Fifth: Quality Trumps Trends.
Mattress prices have risen due to advancements in sleep science and technology. High overhead costs and markups are par for the course in this industry, demanding substantial profits. Despite the online boom, brick-and-mortar stores thrive by offering quality products and personalized lines. Manufacturers create exclusive deals with these stores, giving them a unique edge and protecting them from price wars.
Sixth: The Convenience Conundrum.
In the age of Amazon dominance, mattress stores may seem like relics. However, the reality is that people still value the convenience of brick-and-mortar retailers. A significant chunk of retail transactions, 70 percent to be exact, still occurs in physical stores. Dedicated mattress stores hold 46 percent of the market, outshining department and furniture stores. This prevalence is sustained by a combination of convenience, competitive pricing, and a desire to experience the mattress before buying.
Seventh: Showrooming Success.
Showrooming, the practice of researching online before visiting a physical store, has become a trend. This benefits mattress stores by increasing foot traffic and presenting opportunities for deals. Consumers, while researching online, still prefer to touch and feel the mattress before making the final decision. It’s the blend of convenience, innovation, and competitive pricing that keeps these stores relevant in the ever-evolving market.
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In conclusion, the mattress stores you pass by aren’t just relics resisting the digital tide; they’re navigating the changing landscape with strategic adaptations. From commission-based sales to the allure of in-person exploration, these stores continue to thrive by offering something unique in the quest for the perfect night’s sleep. So, the next time you step into a mattress store, remember – you’re not just buying a bed; you’re engaging in an experience crafted to ensure your dreams are as comfortable as can be. Sweet dreams indeed!