Snooze

The power of the pivot: Sleep Number thrives on techy WiFi Smart Beds

Snacks / Thursday, October 15, 2020
_When your Sleep Number Score is worse than your ACT score_
_When your Sleep Number Score is worse than your ACT score_

Eat, sleep number, repeat... OG mattress company Sleep Number just woke from a deep slumber. Sleep's quarterly profit nearly doubled from last year, and sales popped 12% as we all worked from bed. The stock soared yesterday on the news. But this is really a Health & Wellness story...

  • If you can track it, you can techify it. Sleep Number shifted to selling only snooze-tracking Smart Beds in 2018 and has been making a wellness play since.
  • Sounds familiar. D2C mattress company Casper called sleep the “3rd pillar of wellness” after nutrition and fitness.
  • The OG is beating the newbie. Sleep Number is way ahead of millennial-friendly Casper on snooze-tech, and its stock is beating Casper's this year, too.

"Life-changing"... How Sleep's CEO describes the 360 Smart Beds. She says they've "improved nearly 13 million lives and counting" (that's deep). These beds make sure your Zzzs get on the WiFi:

  • Tracking: The bed tracks your heart rate, breathing, and sleep/wake cycles, stalking your every movement.
  • Temperature control: The bed creates your "personal microclimate," balancing surface temp while warming your feet.
  • SleepIQ Score: You get a SleepIQ score along with a monthly in-app wellness report (70 to 100 = siesta master).

Sleep Number embodies the Power of the Pivot... After going full-smart-bed in 2018, Sleep Number completed its transformation from declining old mattress company to techy growing "wellness" company. That's helped it notch double-digit demand growth for the past three years.

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