Disruption in the Mattress Market by Start-ups who are coming up with New Technologies
Published Date | 2018 September 14
Mattress start-ups born in India, in last few years, such as SleepyCat, offer customized and technology intensive mattresses, which is an emerging trend in the mattress industryIndia: The start-up mattress companies formed in recent years in India, like SleepyCat, launched its “box mattress” through Amazon. This mattress has been made with advanced technology to roll-pack mattresses into a box that is one-third its normal size and is easy to handle. Another company, Wake Fit Innovations has announced the launch of mattresses suitable for all body types with the use of memory foam. The need for comfortable mattress that can provide better support to the body is expected to boost the mattress market in upcoming years. According to “Great Indian Sleep Scorecard 2018”, a survey conducted among a sample size of 1,500 respondents in the Bengaluru ranging from bachelors, married couples as well as people in relationships, due to hectic schedules and rapid development Indian are getting increasingly prone to sleep disorders, insomnia, and disturbed sleep. The survey further concludes that consumers desire good quality sleep, even if they sleep for just five to six hours a night from the recommended eight hours. Thus, the entrepreneurs of mattress companies believe that mattress play an important role in keeping consumers well-rested and maximizing the quality of sleep. Though the online start-ups like Urban Ladder, Pepperfry, and HouseFull carved a niche in the online mattress segment with their expanding portfolios, that include furniture furnishings and decor, the start-up ventures are positive about making their own product offerings which are made using advanced technology to make the mattress more comfortable than ever. According to the market insights of BlueWeave Consulting, as the mattress market is evolving with its rising demand from customers for home furnishing. The customers have more disposable income than before and thus they demand for comfort and luxury. Keeping these factors in mind, the mattress start-ups are working on ideas that can offer mattress with customization, designed with advanced technology. These product offerings have the ability to cut the middlemen from unorganized sector and can be easily delivered to home with warranty and a risk-free policy. The market players of mattress have realized the fact that shopping of mattress is a tedious task, thus, company like SleepyCat introduced this innovative mattress model called “bed-in-a-box” model, which is made up of gel memory foam. This new type of mattress gets adjusted to the body shape and gel crystals keep the customer cool at night. Moreover, the durable base foam, made with special vacuum compression technology, offers support and balance tom the body and is easy to deliver to the customer because of its light-weight. Thus, there is a natural progression happening from unorganized cotton and foam based mattress products to quality products with tech infusion in the mattress industry wherein the demand of mattress is expected to increase and as a result investors getting more interested to invest in the mattress market. According to an upcoming report of BlueWeave Consulting, on “Global Mattress Market, 2018-2024,” the global mattress market is expected to grow over a CAGR of 7% owing to the increasing demand from customers due to rapid urbanization that result in increasing real estate construction. Thus, demand for home furnishing, that include mattress, is in high demand, that can offer a comfortable sleep after hectic schedule of work. Moreover, the growing technology intensive mattress offerings that are light-weight and designed for specific body types, keeping the health-related issues in mind, is expected to promulgate the market in next few years.