2020 Year in Review - Boxed Mattress Wars
Each year poses unique challenges for mattress companies because the mattress industry has a long history of fierce competition. In any normal year, it is fairly common to see a brick-and-mortar mattress store to go out of business only for it to be replaced with another mattress company within weeks. This year has been anything but normal, seeing more stores close permanently, making 2020 one for the history books. At BedInABox®, our team can personally testify that the pandemic has increased the intensity of the boxed mattress war. Our team already works hard to adapt and innovate, but this year was clearly different than we expected. Like it has for many of you, this year has challenged us in ways we could not predict.
News and updates about mattress companies have easily been overshadowed by news about the pandemic this year. Some mattress companies, including BedInABox®, have had a good year and used the new challenges we faced as an opportunity to innovate. Unfortunately, other mattress companies had their plans for 2020 completely upended. Since coverage of the mattress industry has been so sparse this past year, we decided to give our readers an overview of the mattress industry’s performance in 2020, including highlights about our team at BedInABox®, as well.
Mattress Industry Overview
Although our competitors have faced some of the same challenges we have this year, others have struggled to overcome these unexpected circumstances. Perhaps the most prominent is Casper Sleep. Casper Sleep launched its initial public offering (IPO) in the stock market on February 6, 2020, a mere month before the pandemic struck the United States. The timing of the IPO could not have been worse for Casper Sleep. By the end of March, the company’s valuation had dropped from $1.1 billion to a market value of $163 million. In April, the Casper Sleep mattress company laid off 78 employees and put an end to its business in Europe. Casper Sleep is just one notable example – other companies have struggled this year, too. 2020 was truly a challenge for everyone.
One of the most significant changes in the mattress industry has been the shift towards e-commerce. For obvious reasons, many consumers avoided trips to brick-and-mortar stores this year and turned to online shopping, resulting in tremendous growth for e-commerce stores. At BedInABox®, we were ready to welcome new members to our community of sleepers. BedInABox® adopted the e-commerce business model early in our brand development, so are our team members are already trained experts at providing quality mattresses and excellent customer service through our online store. We even used the growth in e-commerce as an opportunity to improve our already high sanitation and quality standards throughout the entire production process. These improvements to our production process have been implemented to ensure the safety and well-being of our team and community of sleepers.
New Products from BedInABox®
At BedInABox®, we did not let the pandemic stop of us from growing. In fact, we proudly released several new high-quality products, including our eco-friendly mattress, the Eco-Lux® Mattress. We also announced our biggest discount ever – the Custom Comfort Bundle. Below is a list of our new, exciting offerings from 2020:
- In April, we released the Eco-Lux® Mattress, the first and only USDA Bio-Preferred® memory foam mattress on the market. The Eco-Lux® is one of the most popular eco-friendly mattresses on the market and it is made from renewable and organic materials.
- We released the Copper Topper™ and Eco-Lux® mattress topper in May. Both products are new, premium mattress topper options. We recommend using either of these toppers to enhance the comfort and lifetime of your current mattress.
- In October, we announced our biggest discount ever – 30 percent off when you buy our Custom Comfort Bundle! The Custom Comfort Bundle comes with your choice of an Azul™ or Tranquillium® Mattress and a MotionInABox™ adjustable base to pair with it.
- We also released the BedInABox® Cooling Protector at the end of October. The BedInABox® Cooling Mattress Protector is designed to provide cool and breathable comfort while still protecting your mattress from spills, stains, and normal wear.
The mattress industry and all of its mattress companies have faced challenging changes this year. Between the pandemic and customers driving huge growth in e-commerce business, adaptation and innovation have been key factors in any success this year. That is why we, at BedInABox®, are constantly improving our products, our production process and our services. Our commitment to providing the highest quality products and the best online shopping experience to our community of sleepers is what motivates us. Not only has this year provided the opportunity to keep improving, but it has also been a wonderful reminder of how important our day-to-day work is for the well-being of our customers.