As we flip the calendar officially from summer to fall and gear up for the holiday selling season, I have a question for mattress retailers. Who is minding your bedding floor’s merchandising strategy?
Is it your in-house bedding buyer or merchandising executive or team? Perhaps A.I.? Or, have you abdicated the merchandising part of your business to your bedding vendors, relying on them to tell you how many slots you must have before signing a deal with them?
I only ask because it has been a frequent topic of conversation for a number retailers with whom I’ve spoken over the past few weeks. Some feel as if they are in a vice grip that keeps getting tightened by vendors that are dictating numbers of slots before granting partner agreements.
At least one top regional 100 retailer is forgoing a contract that requires a hefty allocation of floor space by one vendor in favor of diversification of brands and suppliers. Other smaller, independent retailers are taking a similar approach of shunning larger bedding manufacturers that continue to require more mattress slots; however, the size, scale and reach of the independent retailers make them more nervous about making the change because of what the potential financial repercussions could be.
Trust me, I am not making light of the struggle that goes into adequately merchandising a bedding floor to entice consumers not only through the door, but also to buy. When it comes to mattress retailing, one size does not fit all. Heck, the original boxed bed brands have figured that out. One quick look at their product selections online, and you’ll see more than one mattress build.
And, oh, by the way, those brands are just as hungry to get a slot on a traditional retail store floor as myriad mattress makers are. The difference between those online boxed brands’ tactics and other manufacturers is that they aren’t pushing to gobble up nearly as many slots.
I’ve always thought of merchandising a retail sales floor as a science and far from a perfect one. It takes some experimenting, some tests and some data, and some trial and error. Just as in a chemistry lab, controls must be in place so that measurements are accurate.
Competition in your market matters, too. While service and expertise matter, it’s hard to set your store apart when every other sleep store in your trading area is carrying the same product you’ve got on your floor. At that point, beyond the service and your RSAs skilled experience, it comes down to a pricing game, and when all other things are equal, price is going to win every time.
Again, I’m curious what your strategy is for selecting your bedding partners. Do you feel pushed and pulled to acquiesce to the demands of some vendors? Or, do you tend to dance to a different beat and opt to offer your consumers a variety of brands at a variety of price points?
Drop a line. I’m interested in hearing the reasoning behind how and why you choose the partners and products to fill the precious real estate you have available on your floors.
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