Over the past few years, Singapore’s discount mattress industry has experienced robust growth. The global rise in e-commerce has also played into the industry’s favor as businesses increase their online visibility and transactions via the Internet. Businesses like Hennsley, a local mattress manufacturer, pose stiff competition, while foreign supermarkets gather large crowds that also purchase their mattresses. Mattress manufacturers and distributors operating in Singapore are able to source their mattresses from both overseas and domestic manufacturing plants. While companies purchase mattresses from overseas manufacturers, most local mattress retailers order directly from plants in Southeast Asia, particularly China, Malaysia, and Thailand. While there are close to two hundred mattress retailers in Singapore, only a few of the companies make up a significant portion of domestic profits. Companies retailing mattresses in Singapore come in a variety of sizes ranging from upstart businesses to small and medium casual mattress showrooms, all the way to large international mattress retailers.
In 2020, the Singapore mattress industry revenue grew to SGD 305.5 million, up from SGD 238.3 million in 2015. With minimal fixed costs and competitive pricing, it’s no wonder that retailers are eager to participate in this lucrative industry. However, potential entrants must recognize and adapt to market challenges in order to succeed in this lucrative market. In the 21st century, housing space limitations in Singapore have been growing at an alarming rate. Consequently, bulky mattresses are less appealing to modern homeowners and therefore exert downward pressure on profits. As a result, segmenting and understanding the commonalities and overlapping needs of residents dwelling in smaller spaces could be one of our primary strategic directions. Given the large number of retailers seeking to sell a mattress in Singapore, it will be highly competitive. Thus, a strong marketing plan has to be strategically outlined in order to build a mattress brand and carve out a profitable market.
Understanding Consumer Behavior and Preferences
A comprehensive understanding of the potential consumer is the first step towards devising an efficient mattress marketing strategy. Customers today are bombarded with choices, and there are several mattresses functioning in the same marketplace. Dealing with your customer in the way they like provides you with an edge compared to the rest. Survey findings show that a significant percentage think above all about the comfort of a mattress. Also, the price, brand image, and materials that make the mattress may deter an individual. Many are affected by age, income level, and lifestyle.
As we grow older, we earn more, and the possibility of wanting a high-priced mattress is increasing. For a certain price range, the most popular investment accounts for approximately 35% of customers in our segment who have a cost preference. The cost of a greater preference is insignificant above a certain amount for individuals older than 35. More consumers recommend internet shopping than the remaining methods. We have given special consideration to consumers who enjoy visiting shops. They tend to be similar to women. A notable percentage of women entering our responses do not suggest others to go showrooming. Young professionals also have a powerful choice for purchasing through a mattress rack and testing it before buying it. The price and layout of historic collectibles are also dependent on the conclusions. Some films have almost no choice at all on commodities. A significant mattress warranty is a major economic value. As a whole, a percentage of the individuals referring to the presented brand status cited it. Our analysis of the preceding pages clearly demonstrates that consumers know what they want from mattress companies. No type of buyers exists. Preferring online or actual shop shopping differs significantly from years of profession, wages, and other material features of an individual. Do women feel safe about seeing reality concerning a commodity, and do you think young experts think? By identifying and meeting the requirements of related companies, a good mattress in Singapore gains a good chance.
Effective Marketing Strategies for Mattress Stores
It’s probably very obvious to you that your audience lives in homes and uses mattresses to sleep comfortably, and we won’t move into the business case for advertising in general here. However, Singaporean consumers have a multitude of choices for mattress brands and stores where they can purchase. Since they have wide options, customers look for personalized ways to shop when acquiring such an important product. This section is for tech-savvy Singaporean mattress shop owners who want to get the attention of delighted, comfortable customers and give them an outstanding experience while they’re in-store.
Your potential Singaporean customers generally have more brand awareness about certain mattress brands because they’ve been around for ages. So, how can you connect with them more? Brand identity is especially important if everyone you carry is available to consumers at other stores. What makes the sleep experience and purchasing experience different at your mattress store? Keep track of mattress buyer trends and habits by garnering insights from social media and digital ad campaigns. Data from site visitation and mattress comparisons can be used to optimize ads and improve their effectiveness. If well-targeted and catchy, digital advertising can bring website visitors into the store. Since most mattress buyers will glance at your stores, lay down on a few mattresses, and move on, providing exciting in-store experiences and exclusive in-store promotions when buyers visit in person is smart business. It strengthens the relationship with someone you know is in the market for a new mattress. Providing price promotions like seasonal discounts, in-store only financing offers, and bed mattress mattress sale Singapore that are structured as events can encourage browsers to buy. Limited-time offers seal the deal for impulse buying. You are offering limited stock for a limited time, so folks better act now. Social media is an important part of brand identity because it is a place where consumers can become engaged with the community you build around your brand and a place where consumers interested in what your shops carry might come to expect the latest products and promotions.
Online Presence and E-commerce Platforms
Physical stores, business listings, and classified ads are all likely to list Blanche as a leading mattress store. While physical sales often account for the majority of sales in the conventional mattress market, many shoe start-ups assume the majority of their sales online. Developing a successful online e-commerce strategy is therefore crucial in driving online visibility and sales. Household income and net worth are constantly rising, raising Singaporeans’ cost of living and standard of living. Furniture and home furnishing rose by 24.1 percent in overall volume. In Singapore’s digital marketplace, providing a range of online and e-commerce options is important to showcase the goods. A mattress sellers company must be active online to sell mattresses. As well as having an online presence through social media, a website that is smooth to navigate should be available to attract potential customers. Search engine optimization could also be done with the right keywords to appear high on the results page. Many major platforms increase in-house e-commerce, and companies have shifted online to battle physical outlet closures and movement controls amidst the lockdown. As previously stated, all-in-one e-commerce, POS, or listing options will be DIY. With the world thriving under the pandemic, one might use online marketing like email newsletters, ads, or social media promotions to lure potential locals. Following that, customer analytics, website expectations, and popular goods will be used to shift attention to potential investors. As more purchases can be made, your developing e-commerce website is worth your time.
Innovative Advertising and Promotional Campaigns
Innovative advertising and promotional campaigns not only attract customers to the physical stores, but they also can drive them to the website to make purchases. A powerful advertising approach in a competitive mattress market would be to convey messages in a visual, emotive way, telling a story about product benefits. Engaging online content is so important in the local digital background. Creativity should not be dulled down by business rationalism, but it has to address the whims and fancies of consumers to gain their attention. The advertisements we often see today on TV are boring as they are hinged only on price and specific products. There is no visual storytelling like in the past, where we saw beautiful advertisements with stories. Hence, a key ingredient of such innovative advertising would be to make a good story, so that it not only communicates but can be shared by many. It is important to balance between traditional media and digital media in creating a good advertising strategy. Images and videos uploaded on digital media can be repackaged for offline advertising in malls, and broadcast. Seasonal promotions and themed campaigns are another concurrent approach to attract customers to the booth. A seasonal theme promotion drives home the message of exclusivity, and such campaigns are created for the entire company – supposed to be limited and focused. Matching a new product launch with a unique theme can communicate a sense of urgency. Influencer marketing and partnerships with organizations or individuals can help bring a relevant message or product to thousands of people. Infectious movers often emotionally engage an audience, creating an environment where attitude can become an agent. Marketing communications for the home start by looking at past successes. By studying examples of advertisements, we can modify or repeat the campaign effectively to increase impact and awareness.
Optimizing In-Store Experience and Customer Service
Insights from sales perspectives suggest that a good shopping experience and after-sales service levels are key determinants that influence potential mattress buyers’ purchasing decisions. Some of the physical touchpoints that can be employed by retailers for differentiation are through newly designed concepts of a store to create a more relaxing and inviting atmosphere. When potential customers feel welcome and at home, they will be able to explore your products. Basic considerations of store layout can set the mood from when a customer visits a store to the time they purchase. Some of the retail outlets that conduct research on store layout include various companies with their store’s calming feng shui, private playgrounds for children, and layouts dedicated to displaying products. Strategically, the company wants its customers to interact with its products and be more connected with technology.
In line, a bedding company offers customer-centric solutions, and with insights from them, there are five strategies shared. They include creating a retail experience that demonstrates to shop staff and buyers that the company is on their side; encouraging high levels of customer interaction with products that were only seen by buyers through plastic bags; providing after-sales service that matches the level of a premium product; creating staff training, including product knowledge, that shows how unique and supportive the company can be; and most importantly, staff know, understand, and believe in these things. The company also pioneered a feedback program which enables all of its departments to gather feedback through phone calls. Likewise, this consumer comments program enables consumers to expose themselves to a more engaged company, providing room for business development such as staff training on leads and how final sales turnover can rise. Retailers who focus on the experience of visiting their store and learning from customer feedback and experience stand the test of time, thrive, and beat their competition.
Building Partnerships and Collaborations with Bed Manufacturers
Growth in the mattress retail sector will be limited by one important factor: how many potential customers need mattresses every month. Potential strategies include forging strategic alliances with bed manufacturers. This will enhance our product offering without additional costs. More importantly, selling mattresses can indirectly enhance the retailers’ brand image as long as an appropriate collaboration strategy is chosen. A well-made bed needs an appropriate mattress. A retailer working in close partnership with reputable and innovative bed manufacturers or suppliers can have several advantages over those ‘going it alone.’ These could include, but are not limited to, the retailer being provided with a dedicated ordering hotline, a regularly updated product manual, and on-site demonstration models. Prime products can be secured for exclusive launch at key times. In addition, the retailer should benefit from a two-year warranty on all of the manufacturer’s beds and mattresses. A tight working relationship with a reliable and innovative supplier can also bring additional financial benefits for the retailer in terms of better-priced products, preferential delivery terms, and volume incentives. To reap the maximum benefit, retailers will need to be selling high volumes of the suppliers’ stock in the shorter term. An aligned marketing plan should also fit alongside the agreed sales promotions and seasonal offers. By forging close links with manufacturers, retailers also have the opportunity to help them develop the next generation of beds and mattresses incorporating the latest technological advances. Communication between mattress manufacturers, suppliers, and sellers is thus vital to ensure that marketing campaigns run smoothly and coincide with any new product launches. Such new product launches could be supported with joint promotions, co-op activity, marketing collateral, and point-of-sale material such as banners. Partnering with reputable companies will give a positive impression to customers and – in very much the same way as ‘own brands’ can attract a greater degree of customer attention – working in partnership with a bed or mattress manufacturer can help capture a wider share of the market. As well as ensuring that ‘core’ products remain consistent, it can also lead to the introduction of crease-beaters or anti-aging and health-boosting innovations.
