Why We Buy In to the Big Business of Sleep

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Industries from travel to tech are catering to the restless

n a small room without windows, I am instructed to breathe in sync with a colorful bar on a screen in front of me. Six counts in. Six counts out. Electrodes tie me to a machine whirring on the table. My hands and feet are bare, wiped clean and placed atop silver boards. My finger is pinched by an oximeter, my left arm squeezed by a blood-pressure cuff. Across from me, a woman with a high ponytail, scrublike attire and soft eyes smiles encouragingly. She is not a doctor, and this is not a lab.

Although consumers have opened their wallets in pursuit of better sleep since the debut of memory foam in 1966, the past five years have been a boom for the sleep-wellness industry. The global sleeping-products market brought in $69.5 billion in revenue in 2017, and, according to the most recent report published in May 2018 by P&S Market Research, the industry is on track to hit $101.9 billion in 2023.

There are many scientific reasons to desire good sleep. Poor sleep quality is associated with a whole host of unhealthy side effects. Getting bad sleep puts people at a higher risk for diabetes, cardiovascular disease, Alzheimer’s, impaired memory, problem-solving issues, fatigue, anxiety, mood disturbances and poor performance at work. There’s a market, then, to help people sleep better, not just because it makes money, but also because it is generally good for people.

The sleep-wellness industry is made up of three categories of products: treatments , routine disrupters and nesting . Treatments are mainly performed and monetized by the medical industry and the hospitality industry . Most of the buzzy sleep-wellness companies like Eight Sleep, Oura, Casper and OMI are creating products that fit into the routine disrupter and nesting categories.

The problems with our sleep—for those who are otherwise healthy—are often problems we can fix ourselves. “You don’t need any of that stuff,” Suarez tells me when I run through the list of products I’ve tried. “People say, ‘How can I sleep better?’ And my answer is, ‘How can you have a better life?’” Suarez had warned me that some Type A people slept worse on their second night simply because they knew they were being tracked, but when Vera reviews my Night 2 results, she says she can tell what the problem was. The ResMed shows two scores for each night’s sleep, both calculated based on your movement in bed: one for your mental sleep and one for your physical. On the second night, my mental sleep was fine. It was my body sleep that was a disaster. I needed, Suarez says, to wear myself out.

 

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