Young Affluent Consumers Embrace Luxury Sleep Brands

Luxury consumers have long invested in expensive supplements, top-tier gym memberships, premium skincare products, and cosmetic procedures. Now, a rising trend among young affluent consumers is the integration of luxury sleep brands into the mix, adding to their mission for elevated quality of life.

Sleep analytics reveal a significant investment trend in sleep-related items, including the Oura Ring, Loop earplugs, and luxury sleep masks from brands like Manta. People are willing to spend hundreds or even thousands of dollars on these products, mirroring their investment patterns in luxury fitness and skincare. This emerging luxury sleep category has captured the attention of brands across various industries, from fitness to fashion, seeking to capitalize on this trend.

In the past, reduced sleep has often been associated with success among celebrities and business leaders. However, attitudes around the topic of sleep are evolving. Matteo Franceschetti, co-founder and CEO of luxury sleep brand Eight Sleep, highlighted a shift in perception. Eight Sleep is the creator of the Pod mattress cover, which claims to regulate temperature and enhance sleep quality by up to 30%. Franseschetti said, “In the ’90s or ’80s, there was fitness, but it was cool to sleep three hours a night. Now it looks like you’re not taking care of yourself. Today, sleep is trending — and we are riding that wave.”

Pop culture has in part driven investigation into this shifting trend. In December, Dakota Johnson sparked online controversy when she shared with the Wall Street Journal (WSJ) that she enjoys sleeping for 14 hours every night. On the flip side, in March, Sydney Sweeney said to a WSJ interviewer that she could function on just two hours of sleep, which caused even more discussion. This drove numerous analysis articles, with sleep experts and young consumers participating in debates about the optimal sleep cycle on social media platforms. TikTok has seen a surge in hashtags like #sleepcycle (691.6 million views) and #sleeptok (405.5 million views), with a total of 3.1 million videos created under the #sleep hashtag to date.

Speaking about why there has been a shift, Doug Sweeny, chief marketing officer of Oura Ring, a wearable device that monitors sleep quality, duration, stress levels, and many other metrics, said, “We realised during Covid that we really have to be in control of our own health. We couldn’t solely rely on our primary care provider or doctors, so people are taking wellness into their own hands.”

Sweeny said that sleep-based wearable items are becoming a symbol of status for young customers, “There is a jewellery component to the Oura Ring; it says something about you and what you care about, which is really powerful.”

High-end sleep mask company Manta Sleep was founded seven years ago and now has over a million customers and eight-figure revenues. The company’s unique selling proposition lies in its masks’ wrap-around and blackout features, featuring adjustable foam cups that alleviate pressure on the eyelids and accommodate various sleeping positions.

Manta’s marketing director, James Swain, said, “We ignored Gen Z for a while, but now we’re seeing more organic content from young people on platforms like TikTok, related to sleep optimisation and our product.” He added, “We realised that the demographic of people interested in sleep included young women in LA, for example, rather than just people who listen to niche health podcasts.”