Trends in Digital Fitness
|The Fitness Industry is Being Disrupted by New Business Models, Digital Delivery and Subscription Commerce
The fitness industry has already been experiencing the massive growth of digital fitness, out-of-studio experiences and connected / social fitness. Notable platforms, such as Peloton, have created enormous awareness, brand recognition and loyal followings. While some fitness platforms offer solutions that were able to fully replace the in-studio experience, they were often supplemental to the studio / gym experience. Consumers still desire physical human interaction but often schedules, travel and other issues impede their ability to get to a physical gym. While in-home fitness equipment and solutions have a long history and reputation as a “laundry rack” or a dusty collection of DVDs on a shelf, today’s new connected offerings provide fitness, training, social interaction, gamification and many forms of engagement for the consumer.
Total health and wellness industry
Global fitness and wellness spend
Global Digital Fitness Market
Fitness App Market
Disruption Accelerated by Technical Advancements
On-Demand, Streaming Technologies
Consumers are Adopting a Broader Definition of Fitness
The industry has also been evolving to create a broader definition of fitness which encompasses mental wellness and whole-body health. This includes meditation, stretching and nutrition, etc. Corporations have also been driving this as they seek to have happier, healthier and more productive employees.
|Key Sector Trends
|Global Individual Wellness Market ($ in billions)
Fitness, Wellness and Subscriptions Merger Together
As COVID-19 has shuttered gyms and studios globally, adoption of digital fitness and wellness solutions has skyrocketed. This has come from multiple channels including: (i) consumers looking for in-home solutions, (ii) studios looking for digital solutions to stay engaged with their customers and generate some revenue, (iii) corporations seeking health and wellness solutions for employees in the current work-from-home environment and, (iv) nonfitness companies such as retail and apparel looking for partnership solutions to drive customer engagement.
While the current boom may retreat a bit as virus restrictions ease and consumers eagerly leave their homes to return to a normal life, the acceleration of digital fitness will be sticking around as a core part of daily programs.
Sources: CB Insights, Eventbrite, Forbes, Global Wellness Institute, Grand View Research, International Health, IPSOS, Les Mills, Luxe Digital, Racquet & Sportsclub Association, Redwood Advisors
Lincoln International's Technology, Media & Telecom and Consumer Groups explore disruption in the fitness industry .
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