Nectar Sleep, an e-Commerce mattress retailer, is expanding its offerings to serve the Hispanic market with a Spanish-language website, dedicated social media, and Spanish language servicing. Additionally, the company has appointed Jose Romero as Business Head for the U.S. Hispanic Market.
With these changes, Nectar Sleep becomes the first direct-to-consumer mattress brand with a full-service experience for Spanish-language shoppers available through mobile, desktop, chat and phone, according to Romero. The retailer has tailored the experience to the Hispanic market, which brings $1.5 trillion in purchasing power, according to The Selig Center for Economic Growth.
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Nectar Sleep also has expanded its offerings to luxury shoppers. The company, lead by Co-Founders Craig Schmeizer, Eric Hutchinson and Ran Reske, has launched a high-end mattress brand called DreamCloud. The company is seeking to reach the 3X to 4X more people buy hybrid mattresses compared to memory foam mattresses. To date, no other company has offered a high-end, direct-to-consumer hybrid offering, Hutchinson noted.
Online purchases now account for 12% to 14% of mattress sales in the U.S. and approximately 20% of units sold, according to estimates from Peter Keith, a Piper Jaffray analyst who tracks the bedding industry. However, e-Commerce retailers are still facing competition from omnichannel retailers like Casper, which plans to open 200 stores across North America over the next three years.
The global bedding market is expected to expand to more than $43 billion by 2024, according to Transparency Market Research. Nectar is on track to reach $300 million in total revenue by January 2019.
