Sept 2 (Reuters) – Dutch bed retailer Beter Bed Holding said on Thursday it was launching a “sleep-as-a-service” subscription to allow customers to pay a monthly fee to rent beds rather than buy them outright.
The official “sleep supplier” to Dutch football club AFC Ajax and men’s cycling team Jumbo-Visma, earlier this year reported a fall in profits as the pandemic closed stores and made customers shift to online shopping.
Beter Bed Holding’s CEO John Kruijssen said in a statement the “sleep better, live better” model would build “long-term, dynamic customer relations” and allows people to make their money go further by avoiding a big upfront cost.
The company compared the service it names Leazzzy to a Netflix or Spotify subscription.
It offers four types of box springs with prices ranging from 19.95 euros per month to 59.95 euros per month ($23.61-$70.95), depending on the model of bed and its size.
Beter Bed’s website shows beds that sell for up to around 6,500 euros.
In a note to clients last month, Bernstein analysts highlighted the worldwide rise of the subscription model, saying the market has “ballooned as a way to pay,” as nearly 80% of adults have at least one subscription service and the average of is three.
The analysts estimated the digital subscription economy will reach $1.5 trillion by 2025 and that 5% of European household spending is on subscriptions.
In July, Beter Bed said its core profit fell year-on-year to 13.7 million euros following pandemic lockdowns.
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