The mattress industry encountered significant challenges in 2023, experiencing a notable decline in sales both in terms of revenue and units sold, as revealed by the latest trend report from the International Sleep Products Association (ISPA). The report, aimed at ISPA members, highlights a concerning trend for the mattress market.
According to the report, sales of mattresses and stationary foundations witnessed a decline in both dollar value and units sold throughout 2023. Year-to-date sales plummeted by 6.8%, reaching $9.84 billion compared to $10.56 billion in the previous year. Concurrently, the number of units sold dropped by 8%, totalling 39.7 million units in 2023 compared to 43.2 million units in 2022.
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Specifically, sales of mattresses alone experienced a considerable setback, with a 7.3% decrease in value, amounting to $8.56 billion in 2023 compared to $9.26 billion in 2022. Similarly, the number of units shipped witnessed an 8.2% decline, dropping from 28.19 million units in the previous year to 25.88 million units in 2023.
Source: www.furnituretoday.com