Record profits at beds retailer as future looks bright

Kent-based beds and mattresses retailer MattressNextDay has reported a growth in sales and record profit, in what has been another successful year.

Reflecting on the year, Martin Seeley, CEO and founder, Jamie Latham, Chief Technology Officer, and Stuart Rogers, Chief Financial Officer, talk about celebrating 20 years of business, new initiatives and what the future holds for the NBF’s Online Bed Retailer of the Year award winner.

How has the past year been for MattressNextDay?

Martin: It’s been a great year for us. We have been enjoying continuous growth at MattressNextDay, having more than doubled our overall turnover over the last three years. We’ve also increased our workforce too, by 38%, now employing 54 members of staff.

Stuart: We’ve actually seen our turnover reach £25.2m this year (ending March 2024), which is 52% up from £16.6m the previous year. Our gross profit percentage is up to 46.8% too, with another 52% increase in our pre-tax profit to £3.15m year-on-year, which is a huge achievement and shows that we’re well-positioned for future success.

Jamie: We’ve had a 172% increase in organic traffic year on year, and our SEO visibility vs our competitors is up from 5% to 14%. This is no accident and is down to the work we’ve put into the website. Never one for sitting still, we’ve been working hard throughout the year to implement more exciting initiatives that benefit our customers and staff alike, from sustainability to staff wellbeing.

On sustainability, what has the company been working on?

Martin: We launched our #SustainableSnooze campaign in 2022 and have reached some incredible milestones in the past year. We’ve recycled over 50,000 mattresses now, preventing them from needlessly going to landfill, and became one of Ecologi’s Top 100 companies, continuing to work with them to support over 21 global projects and plant over 150,000 trees in total. 

Jamie: Sustainability has been a huge focus for us in recent years, with the move to our purpose-built distribution centre, showroom, and offices giving us ample opportunity to highlight how much we care about our environment. From installing electric charging stations and LED lighting, providing our staff with reusable water bottles, and switching to eco-friendly packaging, we cut no corners when it comes to doing our bit for the planet. Our long-term goal is still to be a net-zero company and we look forward to reaching that goal.

Future projects planned?

Jamie: Another exciting project we’ve been working on is our Staff Wellbeing Initiative – an employee-led venture that focuses on the physical and mental health of every single one of the MattressNextDay team. We believe our workplace is already a happy and supportive place to be, but we also know there’s always room for improvement. Our Staff Wellbeing Initiative aims to improve the day-to-day life of MND staff across every department, by implementing a variety of different things, big and small.

A team of employee volunteers meets once a month to discuss and strategise ideas that we can put into action to improve the wellbeing of our team. Our mission focuses on areas such as fostering job satisfaction, encouraging a work/life balance, and promoting professional development.

Stuart: Through this initiative, we’ve already given every staff member an extra day of leave so they can enjoy their birthday off or take whenever suits them. We also keep our communal areas stocked with fresh fruit, promoting healthy diets, and have allocated each department a specific training budget, which has already been used to hire speakers, book training courses, and download helpful resources.

Of course, our sustainability focus is in everything we do, so with the help of Ecologi, on top of planting a tree with every order, we’ve ensured we plant 5 trees per month, per employee, to help offset roughly 170 tonnes of CO2 emissions per year.

Martin: This initiative is particularly important to me, as we’re a close-knit bunch at MND and I know every member of the team works exceptionally hard, so looking after everyone’s wellbeing is a no-brainer. It’s not always as straightforward as you might think, as everyone is different and requires different things to feel safe, happy, and productive, so having a team dedicated to listening and implementing wellbeing initiatives is absolutely essential.

Are there any particular highlights from over the past year?

Martin: Earlier this year we were featured on ITV’s This Morning, where our very own CoolFlex Pocket Plush 2000 Memory Hybrid Mattress was tested and praised by presenters. We’re super proud of this mattress, with it winning a Which? Best Buy Award and being one of our customers’ most loved products.

Jamie: The overall traffic and orders we’re seeing is a huge highlight for me, as it’s evidence that we’re doing things right. We’ve surpassed some of our close competitors in many aspects and it’s a brilliant feeling knowing that our hard work is paying off.

Stuart: We’ve also continued to expand our product portfolio, adding popular brands like Jay-Be and Panda London with whom we’re very pleased to have formed great relationships. In-house, we’ve expanded our team by 38% year on year, including the addition of a Customer Services Manager and Operations Manager, who have helped manage operations and bring in their expertise during this period of huge continued growth for us.

A look ahead…

Martin: As well as continuing to develop our #SustainableSnooze and Staff Wellbeing Initiative, we look forward to celebrating our 20th anniversary later this year with a big celebration (more on this in due course!)

To meet the surge in demand, we’ve been rapidly expanding our warehouse capacity. Since moving in last August, we’ve already built an extension and recently invested £1 million in additional nearby storage space. This ensures we have ample room for stock allowing us to live up to our name and maintain our reputation for top-tier delivery service.

Jamie: The website is pivotal to our business, so that’s always my number one priority. We’re constantly investing, testing, and employing new and innovative ways to improve the eCommerce experience to ensure the customer experience is as positive as possible.

Stuart: We’re also excited to continue to expand our in-house team, from customer services to sales to warehouse operatives, to help us continue to provide our ever-increasing customer base with the sleep and service they deserve.

Prioritising Employee Wellbeing

Matin concludes: At MattressNextDay, we know that happy, healthy employees are the key to a positive and productive workplace. That’s why we’ve launched the Staff Wellbeing Initiative – an employee-driven program aimed at cultivating a supportive environment where every team member feels safe, appreciated, and able to thrive.

The Staff Wellbeing Committee meets monthly to develop new resources and activities to help promote mental, physical, and emotional wellness. From providing work-life balance workshops to stocking kitchens with fresh fruit to allocating training budgets, no idea is too big or small if it will improve the day-to-day lives of our team.

Some of the major achievements so far include giving employees an extra paid day off for birthdays, reimbursing costs for eye exams and encouraging computer screen breaks, and partnering with Ecologi to plant trees to offset each staff member’s carbon footprint.

Empowering employees to lead the charge ensures the Wellbeing Initiative stays tuned to staff needs and helps encourage a culture of collaboration and openness. As we continue our rapid growth, prioritising employee satisfaction and support isn’t just nice to have – it’s a crucial competitive advantage. We believe investing in their wellbeing, both at work and home, allows them to truly flourish and be their best selves.

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