New Research Shows Mattress Shoppers’ Attitudes and Behaviors Toward Financing

Nov 10, 2022
Getting a new mattress is a big deal. Not only must shoppers choose the right brand, comfort, and style, there are also big decisions to make about how to pay.
Snap Finance wanted to know how financing influences where consumers shop for mattresses and what they choose. Working with The FAM, Snap talked to people who recently bought a mattress and those who plan to buy a mattress in the next six months.

We learned that one in three people who intend to buy a mattress consider paying over time. That means helping customers, including those with less-than-ideal credit, navigate their payment choices is a critical part of closing the sale.

The first step is understanding mattress shoppers’ attitudes, behaviors, and preferences toward financing. Here are the highlights of our Mattress Consumer Research 2022 report.

Among those who plan to buy a mattress and are considering paying over time, 44% said they look up payment options online and 37% said they intend to visit a store to discuss their choices in person. Those that look into financing say it’s one of the first things they do.

For recent buyers who paid over time, 38% visited a store to discuss payment methods in person.

If you’re a mattress retailer, help your customers learn about all the ways they can pay. Prominently displaying financing information online and in your store and ensuring your team knows how to answer questions about financing may help you gain market share.

Paying over time often affects how much customers spend. Among mattress shoppers who are considering financing, 29% said they expect to spend $2,000–$2,999. That’s significantly more than recent mattress buyers and other shoppers. Recent buyers who paid over time also report they spent more than they would have had they paid up front.

Building targeted programs around the $2,000–$2,999 price point – where about a third of shoppers who use financing end up – may help you close more sales.

The study found an overwhelming majority of mattress shoppers (87%) said it was extremely or very important for retailers to offer flexible financing options, including opportunities for those with less-than-ideal credit.

What types of payment methods are consumers looking for? Most mattress shoppers plan to use cash, check or debit card to pay for their mattress, followed by general credit cards. However, for those who intend to get a new mattress and are thinking about paying over time, the top payment options considered are a retailer-branded credit card (66%), lease-to-own financing and other financing available through the retailer (62%), and additional buy now, pay later solutions (41%).

Nearly a third of U.S. consumers have a credit score low enough to be a roadblock to traditional financing. Offering financing for all customers, including those with bad credit or no credit, may help you grow your business.

Shoppers strongly agree that they would switch where they buy their mattress for the right deal, including recent buyers (52%), shoppers who intend to buy (45%), and shoppers who intend to buy and are considering financing (54%). The availability of low- or no-interest payment methods is important for 55% of shoppers considering paying over time.  

Good payment options can be more important than brand or store loyalty. Talk to your customers about all the ways they can pay for their mattress.

Securing financing is an important part of buying a mattress. Snap provides simple and accessible payment options that fit more of your customers’ paydays, lifestyle, and financial situations.

Learn how Snap can help your business reach more customers, increase your sales, and boost your bottom line.

Snap branded product offering includes loan, retail installment contracts, and lease-to-own financing. Talk with your local Snap sales representative for more detail on which product qualifies at your store location.


The content of this article is for informational purposes only and should not be construed as personalized legal, financial, or other advice. This article represents paid promotional material provided by or on behalf of Snap Finance, LLC, or its affiliates.
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