Hypnia, the emerging online mattress start-up.
This article was originally published by Mathieu Viviani
Hypnia sells premium quality mattresses online at an unbeatable price. A successful start-up company that relies on transparency, ingenuity and excellent service.
Booming orders. Hypnia, a French start-up selling mattresses online, is one of the few companies for which the lockdown has been synonymous with growth. Its figures speak for themselves. During the months of April and May 2020, the start-up saw its orders increase by 240%, for a turnover of approximately 3 million euros over this period. A favorable wind that does not stop at the French border since Hypnia also records an increase in turnover in Spain and Italy, markets where it launched in December 2019. It will rise from 5,000 to 150,000 euros in June 2020.
Facing the rush
While this sudden growth bodes well, responding to it from a logistical point of view is not easy at the beginning. Julien Michaud, Hypnia's marketing director, explains: "We had to be reactive in terms of logistics and transportation so that our business would not be stopped. However, the sharp increase in the number of orders and some delivery delays due to the context have had an impact on our customer service. Just look at the incredible flow of incoming calls and messages. As a result, everyone at Hypnia has been helping out with this service."
Shaking up the bedding market
Launched in 2013 by Jérémy Dols and Thibault Bellocq, Hypnia's goal is to shake up online bedding sales by offering quality memory foam mattresses at lower prices than most of the major brands in the industry (Dodo, Epeda, Bultex, Tempur, etc.). The products are delivered to your home free of charge and with the possibility to try them for 120 days, with the "satisfied or money back" guarantee.
"At Hypnia, we offer only nine types of mattresses. The idea is not to overwhelm the consumer with their choice. Their prices are on average between 400 and 600 euros, while our competitors' prices are around 750 euros", explains Julien Michaud. To achieve this, the start-up is optimizing several aspects of its processes. Its mattresses can be rolled up, which reduces their volume and therefore their transport costs. It also has some of its mattresses manufactured in Portugal and has its own warehouse in Toulouse.
"On this matter, it should be known that what inflates the price of bedding in general is the consequent number of intermediaries in logistics and transport. The margins they take are insane," assures the marketing director.
Qualitative customer service
The other strength Hypnia relies on is its customer service. On its site, the Internet user is guided in his choice via a questionnaire and the possibility to discuss with advisers via telephone, chat and email. In addition to its free trial service, the company offers a home installation assistance, very practical for senior customers in particular.
Since its launch 7 years ago, this differentiating strategy has paid off. Its revenues have been growing steadily since 2013, reaching €11.5 million in 2019. 11.5 million in 2019, more than double that of 2018. "Surprise of the year 2020" according to Julien Michaud, a projected turnover that will reach €20 million (+74% compared to 2019).
"Our ambition is to become the leader in online mattress sales within the next 2 years. To do so, we intend to improve our products through our customer test club. We are also going to launch a new sponsorship offer as word of mouth represents 5% of our sales. We hope to strongly accelerate on the European market, especially in Italy and Spain", concludes Julien Michaud.
Without forgetting to be present in terms of solidarity. From April to the beginning of May, Hypnia took 10 euros from each mattress sold to build up a nice fund. The result was a check for 37,000 euros offered to the French Hospitals Foundation.