German manufacturers continue to weather economic storms. The Mattress Industry Association reported a slight recovery in demand during the second quarter of 2024, despite a 1.5% drop in revenue and a 2.3% decline in sales compared to the same period in 2023. Although demand increased slightly, most mattress technologies and product categories continued to experience consumer reluctance.
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Foam mattresses saw a 2.6% decline in demand but a 4.5% rise in revenue. Latex mattresses experienced a drop in both sales (-4.0%) and revenue (-6.5%). The worst-performing segments were toppers, which saw a 20.0% decrease in sales and a 17.0% revenue decline, and box spring mattresses, with a 17.2% sales decline and an 11.2% revenue drop.
The industry's challenges are exacerbated by increased Chinese imports in the online market and consumers' focus on basic needs.
Textile manufacturers have faced similar challenges. In the first half of 2024, the economic slowdown and project delays negatively impacted home textile manufacturers, as reported by the Kompetenz-Zentrum Textil + Sonnenschutz. Sales dropped by 3.1% compared to the same period in 2023, with all segments experiencing declines. Decorative and curtain fabrics were hit hardest, with a 14.9% revenue drop and a nearly 20% decline in demand. Upholstery fabrics (-4.1%), textile flooring (-3.2%), and bedding (-1.3%) saw more moderate revenue decreases, and their demand remained relatively stable compared to last year (textile flooring +0.3%, upholstery fabrics -0.7%).
Source: www.moebelkultur.de