Boutique Fitness Research
Obtain insights that describe the outlook of the boutique fitness industry.
Boutique Fitness Research
- The connected fitness equipment category is seen to rapidly grow as several companies have already released equipment that offer fitness solutions for home use.
- These devices allow users to get guided fitness lessons by looking at the screens without the need for an in-person instructor.
- Users are saying that connected fitness is the future of the sector.
- This technology can allow them to perform fitness activities anytime, anywhere, and in any device.
- They prefer this system as they do not anymore need to go to fitness centers.
- They can achieve and monitor their fitness objectives without sacrificing family time.
- The Peloton model is seen as an organic evolution of the boutique fitness industry as this changed the way fitness enthusiasts consume content and socialize with other fitness users through the connected systems.
- It is also perceived that consumers will start to think of their monthly payments for a Peloton device to be an alternative for gym subscription expenses.
- The cost of buying connected fitness devices may seem higher at first than traditional boutique fitness expenses.
- However, the high frequency of use may outweigh traditional on-site boutique fitness costs.
- The sector is also seen to grow as more people are finding fitness alternatives at their fingertips.
- The convenience of these connected fitness devices have converted a large number of users in recent years.
- With Peloton's large number of available instructors, users can have more options to select those who can meet their needs.
- User needs range from those who are offering form-based lessons to those who just need some form of quick entertainment.
- Communities around these connected devices are also found to be 239% more engaged as seen in FightCamp connected fitness system's leaderboard.
- From a short term standpoint, typical boutique fitness centers are not yet in danger from being completely overthrown by these connected fitness devices.
- While Peloton devices and other similar connected fitness equipment are seen as more exciting to use, it will still depend on the users' fitness goals.
- Users typically buy the devices to lose weight.
- However, if they cannot perceive any positive results, they are more likely to set aside these connected devices.
- Traditional fitness centers are also seen to earn the most from subscription models as they can earn from clients who don't use the facilities.
- Companies who provide connected fitness devices are seen to grow more if they can collaborate with research firms and health businesses to offer incentives for clients if they provide their fitness data.
- For the Mirror company, it is developing its platform to host in-demand sessions from other partners.
- It plans to become the go-to solution for clients who want to available of these fitness classes.
- Traditional boutique fitness centers are expected to adopt more technology into their services in the future to stay competitive.
- From now until 2024, the traditional fitness center industry is seen to attain $4.9 billion in revenue at a rate of 2.6%.
- The growth is driven by a growing awareness on personal health and fitness benefits.
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