Not Just for Retirees Anymore, Hammocks See Upswing in Sales
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Millennials are hung up on hammocks. Once typically just for retirees and their country estates, the lounging beds are now appealing to everyone including college students and hard-core outdoor enthusiasts.
Sales of hammocks increased a whopping 30% to $53.8 million for the 12 months ending in March, compared with the year-earlier period, according to market research firm NPD Group Inc., which found that overall sales of the product have doubled since 2014. Stores like L.L. Bean, Moosejaw and Wayfair are climbing on board the trend by marketing new designs in cool materials. Amazon promoted a discounted hammock on its site during its annual Prime Day this month–the item ended up selling out, with a reported 24,000 units sold by afternoon. Retail experts say the sales uptick is led by millennials, who love the hanging contraptions for their ease of use, convenience and portability. With prices starting below $100, they’re also affordable for younger consumers. And finally, hammocks also tap into that other all-important buzzword in retail: experience.
“Millennials are looking for products they can share with their friends that they can turn into an experience,” explained Matt Powell, sports industry analyst at NPD, noting that many college kids use them around campus for activities like sitting in the quad. “Hammocking is a way of hanging out with your palsyou don’t have to be in a deep forest, you can be in a backyard. It’s a relatively inexpensive way to spend an afternoon.”
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