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Research Outline

Prepared for Kit H. | Delivered November 11, 2020

Fitness Demographics

Goals

To establish a demographic profile for customers of leading fitness brands (like Barry's Bootcamp, Soul Cycle, and Orange Theory) as well as a demographic profile for customers of leading at-home fitness brands (like Peloton and Mirror).

Early Findings

SPECIFIC BOUTIQUE BRAND INSIGHTS

  • According to information within Soul Cycle's SEC filings, the company strives to have no target demographic. "We do not have a target demographic because at SoulCycle, ANYONE can be an Athlete, a Legend, a Warrior, a Renegade or a Rockstar. It is the place people come, regardless of their age, athletic ability, size, shape, profession or personality, to connect with their best selves."
  • In a 2018 interview, OrangeTheory's senior vice president of franchise development, Mike Mettler, the company's typical member demographic is an adult "25 to 44 years old, married, highly educated, working forty-plus hours a week with a household income of $90,000 plus."
  • Information from GloFox intimates that the typical boutique fitness consumers are "young, female, and like to work out on a Tuesday."

GENERALIZED BOUTIQUE FITNESS INSIGHTS

  • "In boutique studios in LA, Mexico, New York, and London, a mere 23% of participants were men and the other 77% were women."
  • "In 2012, about 37% of all boutique attendees were between the ages of 18 and 34, making up 28% of memberships in 2016."

COVID-19 IMPACTS

  •  85% of fitness club members indicate that they have made changes to their overall fitness routines since the beginning of the global pandemic.
    • "53% are going for walks or runs more often "
    • "33% are streaming at-home fitness videos "
    • "30% are taking pets for more walks "
    • "29% have purchased fitness equipment"
  •  53% of fitness consumers indicate the changes to their fitness routine since the beginning of COVID-19 shutdowns and modifications are temporary. When viewed through a generational lens, the following applies:
    • "51% of Gen X say changes are temporary "
    • "44% of Millennials say changes are temporary "
    • "47% of Gen Z say changes are temporary"

PELOTON INSIGHTS

  • According to an interview with Peloton CEO John Foley, the brand aims to reach consumers between "35 to 65 years old who have children, live in suburbs, have nice homes, they have the money and space but don’t necessarily have time (to work out)."
  • Based on data from an Ipsos study of Canadian consumers, "one in six (17%) Canadians incorporate spinning (indoor cycling) into their exercise or physical activity, including 28% of those aged 25-34."

SUMMARY

The first hour has been focused on finding examples of demographic insights for both boutique and at-home fitness consumers, but it should be noted that we were only able to assess the viability of the project and find a few examples of demographic data in each category. Continued and full research is suggested in order to build a complete profile for each of these types of consumers. Please note, no specific geography was provided and as such, we have provided generalized (and sometimes global) information. Suggested research below will focus on the US consumer, if this geography should be changed, please communicate this in any reply.