ClickZ Bedding - 11.14.2024

PLUS: Tempur Sealy Thrives with Innovative Product Launches Despite U.S. Market Slowdown

Author

Priscilla Soedarpo
November 14, 2024 • Estimated Reading Time: 6 minutes

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Comfort Picks 🛌 

Tempur Sealy

Tempur Sealy International, Inc., a global leader in mattress manufacturing, has demonstrated resilience and strategic acumen in its latest financial results for the third quarter ending September 30, 2024. Despite the global bedding industry's sluggish performance, the company reported a 1.8% increase in total sales, reaching $1.3 billion, up from $1.2 billion. This growth is particularly noteworthy given the 0.8% decline in North American net sales, attributed to ongoing macroeconomic pressures affecting U.S. consumer behavior. However, the international segment shone brightly, with a remarkable 12.4% increase in sales, driven by successful new product launches.

The company's net income rose by 14.7%, reaching $130 million, while the gross margin improved to 45.4% from 44.9%. Chairman and CEO Scott Thompson expressed satisfaction with the company's performance, highlighting the double-digit growth in the international segment as a key driver of overall sales growth. This success underscores Tempur Sealy's strategic focus on innovation and operational efficiency, which has bolstered both adjusted EBITDA and adjusted EPS.

Tempur Sealy's commitment to investing in product development, talent, and advertising is foundational to its long-term success. The company's ability to navigate industry challenges and capitalize on international opportunities reflects its strategic foresight and adaptability. As the global bedding market continues to evolve, Tempur Sealy's innovative approach positions it well for sustained growth and market leadership.

Four Seasons

Four Seasons introduces its first sleepwear collection, complementing its renowned bedding. The Hotel Pajamas, crafted from soft Oxford Sateen, offer comfort and style with elegant piping and embroidery. Available online and at select US locations, this collection enhances the luxury home experience synonymous with Four Seasons.

Harrison Spinks, a luxury bedmaker, won the 2024 Bed Manufacturer of the Year award for its innovation and sustainability efforts. Celebrating its achievements, the company showcased new mattress models and collaborated with designer Patrick Grant. Their commitment to quality and eco-friendly practices highlights their leadership in the luxury sustainable sleep market.

Sleepeezee celebrated its 100-year anniversary at the 2024 NBF Bed Show, showcasing innovative sleep solutions and engaging with industry partners. The event highlighted their commitment to quality and sustainability, featuring new collections like ActivFlex Response and Cool Refresh, reinforcing Sleepeezee's legacy in the bed manufacturing industry.

Leading Voices 📣 

With the election now behind us, the whopping 44% of consumers who reported delaying purchases pre-election may finally be ready to open their wallets.

Black Friday and Cyber Monday could be bigger than ever as shoppers prepare to make these ‘revenge purchases.’ This is a prime opportunity for brands to capture pent-up demand.

In this article, Jamie Bolton shares 3 tips to make the most of this opportunity:

📉 Integrate Lower-Competition Channels: Platforms like Snapchat have less competition and lower CPMs, offering low-hanging conversion opportunities.

🎯 Consider TikTok for Efficiency: Last year, TikTok saw the biggest month-over-month jump in ROAS in November, making it a highly efficient tool for BFCM success.

⏳ Strategically Time Ad Spend: 2023 data shows strong results from increasing spend at the start of Black Friday week, but the best approach depends on your budget and goals. (Get a full guide to three timing strategies in Fospha’s BFCM report).

For a closer look at the data behind Jamie’s top tips for BFCM 2024, check out the full article.

Luke Jonas on LinkedIn: Going Global in 2025

Although Black Friday is just around the corner, savvy brands have half their mind on next year.

With economic challenges in the UK, and a growing opportunity in the US/EU, many retailers are asking: how can we mitigate the risk of our home market?

Performance Pulse 📈

Marketers should focus on creating emotionally resonant holiday campaigns that align with consumer behaviors. By prioritizing engagement and building brand loyalty, they can navigate the shortened holiday season effectively. Continuous engagement and innovative strategies, rather than early promotions, are key to long-term success and consumer connection.

BigSummit emphasized the importance of multi-channel strategies for e-commerce success. Brands should engage consumers across various platforms, manage product assortment, and adapt to economic pressures. Social shopping, especially on TikTok, offers new opportunities. Understanding consumer behavior and forming strategic partnerships are crucial for navigating the evolving ecommerce landscape.

Instagram's Adam Mosseri clarifies that the platform does not reduce the reach of posts tagged as sponsored content. This myth is debunked to encourage creators to comply with laws without fear. The perceived reach penalty is likely due to user engagement, not Instagram's algorithmic actions.

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