Sleep has never been more important – and difficult – during periods of stress, fatigue and changing routines. Issues that will be welcome news to the mattress industry – especially the new breed of easily shippable, mattresses like Simba and pals. Steve Reid is co-Founder and CEO of the British mattress company, Simba. I spoke with him to find out how business and the smart mattress industry, which is projected to grow $109.31m between 2020-24 is doing.
Sales up 60% yoy. There was a lot of ‘watch and wait’ going on but good sleep is being invested in; “In the weeks leading up to lockdown we experienced a slight dip in sales, as the UK watched and waited. However, as soon as lockdown was announced, sales online surged in a way we haven’t seen previously.” Reid discussed the data that Simba has; +10m customers and their sleep app is used nightly by 50,000 people in the UK alone. Data of this kind is what makes Simba useful.
Simba was smart to extend the trial period for its mattresses to 200 nights but also push the contactless delivery and the hygiene factors of their factories; “Data from our consumer sleep app reveals people are really wrestling with their sleep right now, so this upturn could be a reflection of people searching for self-care solutions at a time when anxiety around COVID-19 is causing a plethora of sleep issues.”
While Reid sleeps pretty well right now, he’s not without sleepless nights surrounding – like most companies – supply chain issues. Simba is focusing on building robust supply chains in the UK, France, Canada and China. Reid is looking to shorten supply chains to increase security and lower lead times.
Reid is using the sleep tech Simba has developed to further ‘optimise and develop’ the product line. Recently releasing the next generation Simba Hybrid and a more premium version, the Simba Hybrid Pro Mattress, the pro already accounts for 30% of Simba sales.
Simba has noted a rise in single mattresses being sold, suggesting people are buying mattresses to isolate or perhaps couples just needing their own space. The trend is clear, people are spending more time at home and sleeping is a third of your day…possibly more right now.
Reid isn’t sleeping on his laurels and is aware of the competition; “In the near future, I believe we will see a number of other competitor brands stepping out of the market, as businesses retreat back to their home markets. As a true British business, we are well placed to continue growth through the lockdown and beyond.”
Remaining private equity backed, Simba is sitting-pretty, or maybe that’s sleeping-pretty.