There is a memorable scene in the classic film, Field of Dreams, where James Earl Jones lists the many reasons that people will gladly turn over hard-earned money for a chance to walk around a baseball field in the middle of an Iowa corn field. “It’s money they have and peace they lack,” he says, echoing a truism that applies to much of the “wellness” craze in the United States.
The medical industry (dentists, physicians, sleep labs, and related manufacturers) are now firmly at the forefront of a movement that is willing to spread a related “wellness” message—specifically that sleep matters. Brave “all-nighters” are increasingly looked at as less than heroic, and instead viewed as a relic of a distant past.
Operating on the realistic premise that people are willing to spend money to get a good night’s sleep, the message of blissful slumber is jumping from the medical press to economic journals such as The Los Angeles Business Journal, which recently did an article on the city’s budding “sleep economy.”
“Companies are cashing in on the need for a good night’s rest, which consumers increasingly consider essential for their health and happiness,” writes reporter Coco Huang in an Aug. 17 Journal article. “And Los Angeles, with its proximity to the ports and a diverse talent pool, has developed into a key player for the sleep industry.”
In addition to a large manufacturing capacity for items such as mattresses, Huang points out that Los Angeles is also home to rising startups in bedding, sleepwear, and sleep tech, in addition to established brands and traditional manufacturers.
Written by Greg Thompson
Source: LA Business Journal