Americans are tired: More than 1 in 3 (35.5%) don’t get the 7 hours of sleep a night recommended by the U.S. Centers of Disease Control and Prevention.^1,2 With the potential damage that sleep deprivation can do to health, happiness, and productivity, sleep is the second-highest health and wellness priority for consumers, according to research from McKinsey & Co.³

Read more: GLP-1 medications: Transforming health and spending habits

The need for ZZZs is waking up companies to a breadth of slumber-focused opportunities — from basics like mattresses and bedding to more sophisticated gadgets including high-tech wearables, sleep-tracking devices, and timed-light alarm clocks. This year, the sleep economy is projected to reach nearly $600 billion globally.⁴

Tossing and turning

What’s keeping people from resting easy at night? Insomnia disorder impacts about one-third of Americans, and sleep apnea affects as much as 9%-38% of the general population.⁵ Thoughts of finances contribute to nighttime restlessness for some: Empower research reveals 36% of Americans say they lose sleep over money worries — and that number is even higher among Gen Zers (56%) and Millennials (51%).

Counting more than sheep

Whatever the cause of sleeplessness, trying to get those 40 winks in can come at a cost — and Americans say they’re willing to spend about $1,000 a year to get a good night’s rest.⁶ Still, while about 60% of Americans say they would invest in a better bed setup as part of that, the average cost could run even higher, depending on the items:⁷

✔️ Budget mattress, queen size: $284-$1,079⁸
✔️ Bedding (sheets and comforter), queen size: $150
✔️ Basic metal bed frame: $100
✔️ Pillow and a single quality pillow: $50-$100 ($100-$200 for two)
Source: CNET

From melatonin to meditation

Currently, more than half of U.S. adults (56%) use some method to help them improve shut-eye, including supplements like melatonin, meditation tapes, and white noise machines, sleep headphones, and other sleep tech items.⁹

Countless devices are flooding the market that promise solutions to sleep challenges — and some do not come cheap. Mattress temperature controllers can set consumers back by $2,245, while hitting the snooze on a sunrise alarm clock can run about $180.^10,11 Wearable devices that monitor sleep stages and vital signs, breathing devices, and sleep-tracking earbuds can range anywhere from $176-$349.¹²

Sweet dreams

Some retailers are making the most of the opportunity. IKEA is partnering with the National Sleep Foundation (NSF) on research about how Americans are sleeping. As part of this, the company introduced its “Sleepeasy” concept experiential exhibits in cities like New York and Miami — pop-up events cleverly designed to make the quest for a good night’s rest playful, interactive, and inclusive.^13,14 Guests can enjoy food, live music, and disco parties as they peruse solutions aimed at what the retailer terms as the 6 sleep essentials — comfort, light, temperature, sound, air quality, and decluttering — and product selections designed to transform how people sleep.¹⁵

The beauty industry is getting in the market too, with products like skin serums, supplements, and mouth tapes that promise to hold the secret to deeper, uninterrupted sleep (and a more defined jawline as a plus).¹⁶ A $38-a-pack pink lip-shaped mouth tape launched by one wellness influencer sold out within 2 days, and racked up a 100,000-person waiting list for the next drop.¹⁷

Read more: Consumers see the glow of at-home beauty tools