Serta Simmons Bedding-Competitive Landscape
Two top competitors of Serta Simmons Bedding by market share of the US mattress and bedding industry are Tempur Sealy International and Sleep Number. Serta Simmons Bedding and Sleep Number have a total revenue of $1.6 billion each, while Tempur Sealy International, Inc. has a total revenue of $2.7 billion.
SERTA SIMMONS BEDDING
- Serta Simmons Bedding is targeting the hospitality industry, where it is the leading provider.
- They also target residential consumers using the "exclusive Bellagio at Home® mattress collection."
- Their product offerings include blankets, sheets, mattresses, bed frames, protectors, and accessories.
- The company has four mattresses and bedding brands namely, Serta, Beautyrest, Tomorrow Sleep, and Tuft & Needle, through which it distributes a variety of products to end-users.
- The company has 220 years of experience in the sleep business.
- The company completed its merger with Tuft & Needle in 2018, allowing it to utilize all channels available for both businesses in reaching their customers.
- The merger granted the company the ability to sell its product online and in-store.
- Serta Simmons Bedding and Tuft & Needle, together, manages and owns two of the largest bedding brands in the industry, Simmons Bedding Company and National Bedding Company, and operates 36 manufacturing firms in the United States, one in Puerto Rico, and about five in Canada.
- The company, in partnership with Mattress Firm, announced a $100 million marketing spend over an 18-month period in the multi-year partnership.
- SSB is marketing its product through its social media channels. For example, on Twitter, Tuft & Needle has about 13,400 followers, while Serta has 22,100 followers. Both brands post updates about new products, discount offerings, and product availability to their customers and followers.
- They also leverage the Amazon A+ content solutions to enhance engagement and outreach to potential customers.
TEMPUR SEALY INTERNATIONAL
- The company is targeting the hospitality industry using its hotel mattresses.
- They also target retail customers through the company-owned retail store, and direct-to-consumer through its e-commerce platforms and other third-party vendors.
- TEMPUR-Cloud and Flex, Stearns & Foster, TEMPUR-Contour, Sealy Hybrid, Sealy Response, adjustable bases, pillows, Sealy Conform, and Cocoon by Sealy.
- Tempur Sealy International is regarded as the world's largest bedding provider and sells some of the most highly recognized mattress brands in the industry.
- One of its top brands, Sealy, has more than 130 years of mattress business experience and have sold over 100 million mattresses over that period.
- Tempur Sealy International boasts of 22 North American facilities and 34 international facilities.
- The company made the Tempur-Pedic® pricing adjustments to help simplify pricing structures leading to increased velocities by reducing navigation challenges for retail sales associates and consumers.
- "73% of advertising expenses experienced by the US part of the mattress industry are spent by Tempur-Pedic. Sealy has 2% of these expenses."
- Tempur Sealy is marketing its product through its social media channel. For example, on Twitter, Tempur-Pedic has about 16,100 followers, while Sealy has 11,000 followers and 489,225 followers on Facebook.
- Both brands post updates about new products, discount offerings and product availability to their customers and followers.
- The company also outlined its four marketing strategies to use in recapturing the number one spot in the US in terms of market share.
- The strategy includes expanding with current retailers, significantly increasing dollars and rates of direct advertising, innovating new product offerings, and exploring new channels.
Reason for Addition
- Tempur Sealy International is listed as a top competitor of Serta Simmons Bedding and holds a 27.2% market share of the US mattress and bedding industry.
SLEEP NUMBER CORPORATION (FORMALLY, SELECT COMFORT CORPORATION)
- The company is targeting US citizens who are 35-64 years old, earn above-median income, and are health focused.
- The product is also targeting National Football League (NFL) fans (by using NFL players) and the company has signed a new multi-year deal with the League.
- Mattresses, bedding, pillows, bases, furniture, bed accessories, and sleep solutions.
- The company claims to provide a seamless end-to-end customer experience using its vertically-integrated business model.
- Sleep Number sells its product directly to the consumer with no third-party affiliations.
- The company is one of the most trustworthy companies in the United States, according to Forbes.
- The company's competitive advantages include proprietary sleep innovations, lifelong customer relationships, and exclusive distribution.
- Sleep Number has over 4,000 team members and 560+ US stores to help reach its customer base.
- Another key advantage of the company is its lifelong customer relationship with its brands and exclusive distribution.
- The company is marketing its products through its partnership with the NFL, which owns the most significant marketing platforms on the planet.
- They use a combination of national and local marketing techniques to reach their existing customers and to attract new customers.
- Sleep Number is marketing its product through its social media channels. For example, on Twitter, the company has about 44,300 followers and 1.017 million followers on Facebook.
- The brands post about new products, discount offerings, and product availability to their customers and followers.
Reason for Addition
- Tempur Sealy International is listed as a top competitor of Serta Simmons Bedding and holds a 5.5% market share of the US mattress and bedding industry.
We began by searching for market reports and business directory sources in an attempt to find the competitors of Serta Simmons Bedding. We found a company analysis by Crunchbase that listed the competitors of Serta Simmons Bedding. We also found a corroborative source, Zoominfo, who also listed similar companies as the top competitors of Serta Simmons Bedding (with the revenue data of these companies).
We conducted a further search for the market share of the listed competitors and found a report by Courant and The Mattress Underground on the market share of each of the top players in the industry. We then selected two of the companies with the largest market share after Serta Simmons Bedding.
Next, we conducted a thorough search through the websites of the companies' to find out details about their target customers, product/service offerings, differentiating factors, marketing strategies, and competitive advantages. We also leverage the information from business directory sources, such as Crunchbase and Hoover, which offered more insight into the companies.