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CLEVELAND — Sleep product demand is forecast to grow 2.6% annually for the next four years, according to a recent report from Freedonia Focus Reports, and better sleep on premium mattresses will be a key marketing driver for the bedding category.
In its “Sleep Products: United States,” FFR says the advances each year will be driven by increases in household formation, home sales and higher levels of disposable personal income.
Marketing the importance of a good night’s sleep and the potential benefits of high-end foam and hybrid mattresses will continue to support purchases of premium bedding, the report notes. In addition, the aging population of relatively affluent Baby Boomers will increase demand of premium products that offer relief for problems such as back pain.
The Freedonia report also noted that, in the short term, COVID-19 will continue to spur demand for new mattresses, citing consumers who are experience negative effects
TOTOWA, N.J. – Working to offer home furnishings and sleep retailers an easy-to-sell package of sleep accessories, Precision Textiles’ SlumberShield division has developed a bundle that includes mattress protectors, sheets, blankets and pillows. SlumberBundle collections are priced to retail from $149 to $399, depending on products including in the package.
Set to debut the first week in January, the product is designed for brick-and-mortar furniture retailers, mattress retailers and specialty sleep shops. The kits can also be drop-shipped to consumers through retailers. The bundles can be customized by retailers to fit in with each location’s merchandising strategy. High-end retailers catering to luxury consumers can select premium products, for example.
“Retailers know that maximizing every opportunity to sell a customer in the current environment is critical,” said Bill Bottine, managing director of SlumberShield. “Precision and SlumberShield are two trusted names in the mattress protection industry, making our SlumberBundles an easy cash-and-carry
ANSTERDAM, The Netherlands – Paint and wood coatings specialist AkzoNobel announced it has repurchased 196,777 of its common shares in the period from Dec. 14-18 at an average price of euro 86.57 per share. The consideration of the repurchase was euro 17.04 million, the company said.
The repurchase program, which began Dec. 7, was first announced on Oct. 21. This latest round is in addition to a previous buyback of 204,347 shares announced from Dec. 7-11. Priced at euro 88.24 per share, the consideration of that repurchase was euro 18.03 million.
Overall, the company plans to repurchase common shares up to a value of euro 300 million. This process is expected to be completed during the first half of 2021. The company said it has engaged a third part to manage the program and perform transactions on its behalf. The shares are intended to be cancelled following the repurchase.