Sam Woods of Mattress Firm spoke about The New Era of Value

1. The New Era ofValue
SamWoods

4. Bias #1
Retail is in my
DNA

5. Bias #2
20 years at
Mattress Firm

6. Bias #3
Sales is where
I spent most
of my career

7. Bias #4
I think we are
terrible at
predicting the
future

8. Focus on the
Front Lines
Enhance the
Guest
Experience

9. What do we mean when we say value?
Estimate the
Monetary
Worth
The Regard
with which
Something is
Held
verb noun

10. Tiny Houses

13. Two Ways to AddressValue:
1. Build toward what consumers value
2. Try to change what consumers value
As the things we VALUE change, the VALUE of things changes.

14. VS.

15. The Crucial Question
What percentage of consumers feel
that trying a mattress is necessary
to consider a purchase?

16. We believe sleep is
like a fingerprint

17. Delivery method +
selection tool +
content provider

18. Delivery method

19. Challenge
One
Customers want
selection...
But not confusion
• Reduce sku count in store
• Build robust endless aisles
program
• Own the story of the assortment
• Control the intellectual property
behind the innovation

20. Challenge
Two
Customers want
emotion...
But we sell them
rationally
• Start with the story
• Build a clearly defined brand
purpose
• Re-imagine the store experience
• Improve the online user
experience

21. Challenge
Three
Customers want
real value...
But will pay for
their solution
• Eliminate inefficiency in supply
chain
• Mirror online selection process
to in-store process seamlessly
• Understand how customer views
sleep as part of broader wellness
regimen
• Simplify “necessary” selection to
eliminate pitch fatigue
• Multiple delivery options

22. Challenge
Four
Customers want
differentiation...
Not jargon
• Create transparency for the
customer
• Embrace simplicity
• Eliminate jargon; tell the product
story in plain language