Market revenue will reach $2.7 billion! Canada's demand for mattresses is strong

Consumers' concern about sleep quality is driving the rapid expansion of the sleep market.

Canadian mattress market revenue to reach $2.7 billion

According to Business Wire , it has been observed that Canadians sleep less than seven hours a day, which harms their health. Due to these factors, the demand for comfortable mattresses is increasing.

The Canadian mattress and accessories market is expected to reach revenue of USD 2,689.8 million by 2024 , growing at a CAGR of 1.7% during the forecast period . In terms of mattress type, the spring mattress segment is expected to hold a major share of the market during the forecast period .

The online distribution channel is expected to grow at the fastest rate during the forecast period owing to the development of emerging online platforms, discounts, and convenient shopping and payment methods .

In addition, according to Cision PR Newswire, as Canadians invest in new homes at a record pace and move into more suburban and rural areas, Sleep Country Canada provides a strong foundation for residents seeking a good night's sleep with its extensive physical retail and e-commerce products .

Sleep Country's e-commerce revenue accounts for 20.1%

Sleep Country Canada , Canada’s leading omnichannel mattress retailer , recently reported the company’s fourth quarter results.

Data shows that the company's physical and e-commerce businesses have achieved rapid growth . In addition, as Canadians pay more attention to personal health and want to get a good night's sleep , the company is expected to continue its strong growth momentum in 2021.

Dave Friesema, CEO of Sleep Country Canada, said: " The fourth quarter was the best quarter in Sleep Country's 26-year history . As Canada's leading omnichannel sleep retailer, e-commerce drove our revenue this quarter, and Sleep Country Canada successfully closed the year with strong growth momentum . "

Sleep Country reported data showing that in the fourth quarter , 20.1% of its revenue came from its e -commerce channel , thanks to strategic investments in innovation .

In the fourth quarter, Sleep Country's revenue increased by $62.4 million, or 33.4%, from $186.5 million in the fourth quarter of 2019 to $248.9 million in the fourth quarter of 2020.

In addition, Sleep Country's mattress and accessories segments accelerated growth in the quarter . Mattress revenue increased by $50.6 million from $146.2 million in the fourth quarter of 2019 to $196.8 million in the fourth quarter of 2020. Related accessory revenue increased by $11.8 million from $40.3 million in the fourth quarter of 2019 to $52.1 million in the fourth quarter of 2020.

" Our outstanding fiscal 2020 results demonstrate the strong demand among Canadians for the high-quality products we offer , as well as consumers' growing investment in their personal sleep health , " said Stewart Schaefer, chief business development officer at Sleep Country Canada .

As more consumers pay attention to sleep health , this trend is driving demand for customized daily products, including mattresses . In addition, as Canadians' disposable income increases, consumers are willing to pay higher prices for products that can help improve their health.

Hence, this offers wide opportunities for players operating in the Canadian mattress and accessories market.

Canada

Mattress

Sleep Market

E-commerce