Consumers are increasingly viewing good sleep as more than an aspirational ‘nice-to-have,’ instead prioritizing it as an integral, foundational necessity for mental and physical health. 58% of consumers associate sleep quality with overall health, according to a survey conducted by SONAR™, Wunderman Thompson’s proprietary market research tool. “Sleep is a physiological need,” agrees sleep expert Dr. Rebecca Robbins. “It really is an illusion that if you stay up longer you add more time to your day.”
As a result, the sleep economy is booming; the global market for sleep aids and technologies is expected to reach $84.9 billion by 2021—up from $66.3 billion in 2016—according to the most recent findings from BBC Research. “The industry around sleep-related products is expanding; we see the shelves are rife with things like a new gadget, a new device [to improve sleep] every day, and there’s a huge explosion in the mattress industry,” Dr. Robbins tells JWT Intelligence—all of which “reflects a greater interest in sleep and the tools and strategies for getting better rest.”
For hotels, which are in the business of sleep, this represents a strong opportunity. Now, luxe hotels are creating environments and treatments designed specifically to improve sleep.