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Any idea of Lidl coming ? saw this posted on Next Door but nobody can confirm. Corporate lidl pretty hush in email only stated that it looks like a great location.
And we can all be thankful for a mattress store FINALLY. Would love to know the business model behind those stores.
The short answer is that mattresses are very high profit margin items, require few employees, keep little inventory on hand and thus the stores don't cost a whole lot to operate.
"Mattresses are a relatively high-margin product, and stores don't need that many employees, meaning each location doesn't need to sell a huge number of mattresses to break even, industry analysts said. And every store does double duty as advertising — important for a product most people don't think about until they need it.
"We want prominent, convenient, high-profile locations our customers will be driving or walking past anyways so that when they do get in the market, we're the natural default option," Murphy said."
"The answer can be attributed to at least 4 separate things: the economics of running a mattress store (and a mattress retail chain), the psychology of shoppers’ decision making for mattresses, the release of pent-up demand for mattresses after the recession, and the scale of American retailing:"
The short answer is that mattresses are very high profit margin items, require few employees, keep little inventory on hand and thus the stores don't cost a whole lot to operate.
"Mattresses are a relatively high-margin product, and stores don't need that many employees, meaning each location doesn't need to sell a huge number of mattresses to break even, industry analysts said. And every store does double duty as advertising — important for a product most people don't think about until they need it.
"We want prominent, convenient, high-profile locations our customers will be driving or walking past anyways so that when they do get in the market, we're the natural default option," Murphy said."
"The answer can be attributed to at least 4 separate things: the economics of running a mattress store (and a mattress retail chain), the psychology of shoppers’ decision making for mattresses, the release of pent-up demand for mattresses after the recession, and the scale of American retailing:"
Also, there's that whole scandal and court case where Mattress Firm is suing several recently fired executives from the real estate department as well as a national commercial real estate firm alleging that they steered them to open additional stores they didn't need or move stores to other locations nearby to lock in higher than market lease deals in buildings that they or their friend owned through shell companies.
Maybe the business plan includes selling as much as possible, as quickly as possible, piling up the debt while taking out the profits with big bonuses, then filing bankruptcy. Wouldn't surprise me.
My crystal ball must have been working really well that day.
The sign in front of the building says Bad Daddys burgers.
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