Competitive Landscape for Serta Simmons Bedding
Toget up to speed with the landscape analysis of the mattress and bedding industry and a competitive analysis for Serta Simmons Bedding
- According to Grand View Research, the global market size for mattresses was valued at $27.5 billion in 2018 and is expected to grow at a CAGR of 6.7% between 2019 to 2025.
- The surge in home ownerships and rising disposable income are some drivers of the growth in the mattress market.
- The research identifies Innerspring, Latex, and Memory Foam as some of the leading players in the global industry.
- In the US, the primary drivers of the mattress market are rising consumer preference towards customized mattresses, growing population, and increasing rate of home ownerships.
- The US home bedding market size was $11.82 billion in 2016.
- In the US mattress market, the key players, as identified by the Prescient Market Strategic Intelligence, include Simmons Bedding Company LLC, Kingsdown Inc., Spring Air International Inc. LLC, Tempur Sealy International Inc., Select Comfort Corporation, Southerland Bedding, and Corsicana Bedding Inc.
- According to Ibis World, Serta Simmons Bedding LLC, Tempur Sealy International Inc., and Sleep Number Corporation hold the largest market share in the US mattress market.
- Of the factors restraining the growth of the US mattress market, the high cost of mattresses is the leading. Increases in the price of Petroleum has caused a rise in the cost of raw materials.
- In 2018, Serta Simmons opened a cavernous factory in Windsor Locks, as part of its expansion efforts to reach more consumers and gain a competitive advantage over the rest of the players in the market.
- The company is facing stiff competition from the growing number of internet-based companies that allow customers to avoid sales pitches and store-hopping.
- Some trends in the mattress market include rising demand for personalization and increasing online sales of mattresses.
Proposed next steps:
You need to be the project owner to select a next step.
The initial research indicates that information is available to enable further analysis of the landscape analysis of the mattress and bedding industry as well as a competitive analysis for Serta Simmons Bedding. Therefore, we propose further research to identify 2-3 top players (by revenue or by market share) and analyze their competitive landscape in comparison to Serta Simmons. To be provided for each includes total revenue, target customers, product/service offerings, differentiating factors, competitive advantage, and marketing strategy.
We also recommend further research to analyze the landscape of the market and bedding industry through a SWOT analysis that will unearth the strengths, weaknesses, opportunities, and threats in the mattress and bedding industry.
Alternatively, we could provide an analysis of the 4-5 trends in the mattress and bedding industry. For each trend, we will identify the trend, determine how it is impacting the industry, at least one player at the forefront of the trend, and illustrate why it is a trend.