Sleepwell is a leading brand in the mattress and sleep products industry. However, there has been a surge of new competitors in the market, including WakeFit and The Sleep Company.
This has led many to wonder if Sleepwell is losing its market share to these newer brands.
To answer this question, it's important to first understand the state of the mattress and sleep products industry. In recent years, there has been a growing awareness of the importance of sleep and the role that a high-quality mattress can play in improving sleep quality. As a result, the market for these products has seen significant growth.
Despite this overall growth, Sleepwell has faced increased competition from newer brands like WakeFit and The Sleep Company. These companies have been able to differentiate themselves from Sleepwell with their focus on innovation and the use of new technologies in their products.
For example, WakeFit has introduced memory foam mattresses that are designed to provide support and comfort to the body, while The Sleep Company offers a range of high-tech mattresses with features like temperature control and pressure-relieving technology.
According to Crunchbase, WakeFit has raised $107 Million from several investors and institutions with a $300 million valuation. Similarly, The Sleep Company has raised $21 Million and is spending big on advertising on Facebook & Google.
This increased competition has had an impact on Sleepwell's market share. While the company still holds a significant share of the market, its dominance has been challenged by these newer brands. This is particularly true in the online market, where WakeFit and The Sleep Company have been able to gain a strong foothold.
Despite this, Sleepwell remains a trusted and well-known brand in the industry. The company has a long history of producing high-quality products and has a loyal customer base. In addition, Sleepwell has responded to the threat of newer competitors by introducing new products and technologies of its own. For example, the company has introduced a range of mattresses with advanced features like temperature control and pressure-point support.
Overall, it's clear that Sleepwell is facing increased competition from newer brands like WakeFit and The Sleep Company. While the company's market share has been challenged, it remains a trusted and well-known brand in the industry. With its focus on innovation and its continued commitment to producing high-quality products, Sleepwell is well-positioned to compete in an increasingly crowded market.