Why the high-end mattress has lost its appeal for millennials
The high-priced mattresses are still popular in the U.S. and Europe, but sales of the mattresses that are more than three times as expensive as the next cheapest are on the decline, according to a survey by research firm NPD Group.
The NPD study, released on Monday, surveyed more than 1,500 people between the ages of 18 and 35.
The firm said the median purchase price for a high-quality mattress was $3,200 in 2014.
The survey also found that the majority of millennials, 64 percent, would buy a high quality mattress even if it was $200 cheaper.
The report also found Millennials are spending less on mattresses than they have in years past.
Millennials spent $1,936 per person on mattress purchases in 2014, up from $1.636 in 2014 and $1 in 2013.
This trend is expected to continue in the years ahead, according the report.