Mattress Firm brand
Tom Dougherty, CEO – Stealing Share
8 August 2018
Mattress Firm brand goes ker-plunk. Surprised?
It looks like yet another retailer rests on the cusp of filing for bankruptcy. This time it’s the Mattress Firm brand going away.
Is anyone really surprised?
Let’s forget for a moment that Mattress Firm’s parent company, Steinhoff International, is in the throes of an accounting scandal a la Enron.
Consider this, the Mattress Firm brand sports 3,400 stores in the US alone. To put that into context, that’s more locations than Arby’s and Papa Johns. It’s also more stores than Ford or GM has dealers.
And that doesn’t take into account the plethora of other mattress stores littering our streets. Locally, here in Greensboro, there are four mattress stores within a quarter mile of each other. Including one with the Mattress Firm brand. We even have a store called Mattress 2.0 because apparently Mattress 1.0 was already taken.
“You can tell by the sheer numbers of mattress stores that it is not a viable model. Mattress retailers adopt a model similar to pharmacies and car dealers.”
The failing model of the Mattress firm brand
How often do you buy a mattress? Every five years? Every 10? You probably hold onto a mattress longer than you do a car. Anyone would certainly hold onto it longer than the roast beef from Arby’s.
You can tell by the sheer numbers of mattress stores that it is not a viable model. Mattress retailers, like the Mattress Firm brand, adopt a model similar to pharmacies and car dealers. They want you to shop around. But often you just end up going to the one on the most convenient side of the street.
But that’s only if you’re in the market for a mattress. At any one time, how many people can that be? And now there are many online mattresses in a box that are far cheaper and cut out the hassle of dealing with the mattress-selling vultures in the stores.
I really can’t believe it took this long for the Mattress Firm brand to dwindle into nothing. In fact, the mattress brands themselves have so little meaning that Mattress Firm’s potential bankruptcy filing is just the tipping point. They build too many stores. I guess if the money hadn’t run out they might have never realized it.
There are some retail failures that make me a bit sad for nostalgia. The demise of the Mattress Firm brand is certainly not one of them. If I need a mattress I will find one, I don’t need to see one in every strip mall or street corner. Good riddance, Mattress Firm.
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