Dutch company launches 'sleep better, live better' rent-a-bed service

Beter Bed Holding NV

02/09/2021 07:57

Sept 2 (Reuters) - Dutch bed retailer Beter Bed Holding
 BETR.AS  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  AJAX.AS  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  NTFLX.O  or Spotify  SPOT.N  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.  urn:newsml:reuters.com:*:nASN001GQE
    ($1 = 0.8450 euros)

 (Reporting by Piotr Lipinski in Gdansk; editing by Barbara
Lewis)
 ((piotr.lipinski@thomsonreuters.com; Gdansk Newsroom: +48 58
769 66 00;))