There is no doubt about it—2020 did a number on the fitness industry (and every industry). One of the most incredible shifts to come out of the global pandemic, amid multiple lockdowns, was the exponential increase in technological developments. The consumer mindset has shifted dramatically and gym-goers and non-gym-goers alike have placed an increasing emphasis on total body wellness.
There is no shortage of fitness tech gadgets, at-home workout options, interactive hardware, and engaging software. These advances went from being a novelty to a necessity almost overnight, and as our society continues to adapt and change, they have become the most convenient way to create wellness gains from home.
The industry has morphed with gym owners and gym-goers both searching for the right resources for them. As the fitness industry pivoted online for the sheer sake of company survival, we have also seen increased investment in online offerings, live streaming, online courses, at-home equipment, apps, fitness trackers, and more.
Here are the latest trends in fitness technology:
Oh, the at-home fitness phenomenon…What did the world do before Peloton? While coronavirus wasn’t the sole factor of at-home workouts, it was certainly an accelerant. In fact, the home gym equipment market is expected to grow at a compound annual growth rate (CAGR) of close to 9% by revenue from 2019-2025, according to Research and Markets.
Home gym equipment has also launched a plethora of fitness devices, each with more and more digitally advanced and technologically innovative features.
Companies like Peloton, Zwift, JAXJOX, Hydrow, Tempo, Tonal, Mirror, Studio, Beachbody, CLMBR, and Nordic Track have exploded in revenue.
Similarly, fitness apps are seeing tremendous growth and variance—as much as a 50% increase in just the first half of 2020. These upward trends show just how important at-home fitness has become in recent months.
Moreover, wellness app usage, not just specifically fitness app usage, is set to see higher numbers, too. Not only do these apps track everything from sleep to steps, but they also offer wellness and stress relief options that are more and more in demand. Check out these front runners:
Fitness trackers are more than just a fashion accessory. From the Apple Watch to FitBit, these wearable tracking devices feature advanced heart rate sensors and algorithms to reveal valuable insights from workout progress to sleeping patterns.
In addition to watches and fitness bands, wearable technology has evolved into a completely new industry. These fashion-forward, tech-clothing options can record your running data, measure heart rate, use electrocardiogram (ECG) technology, count your steps, and more. Here are a few products to watch:
- UA HOVR™ shoes
- Nadi X smart yoga pants
- Hexoskin high-tech tank
- Sensoria core smart socks
- Ambiotex’s smart shirt
- Komodo smart sleeve
- Supa Bra
- Athos gear
For a personal trainer at your fingertips, many people are turning to online coaching. Whether clients are looking for alternate hours, personalized fitness or group fitness, or just a way to get motivated without in-person training, online coaching has definitely seen a boom in the last two years.
Beyond the pandemic implications, online coaching can be an incredible way to diversify your business (or training). Never has training with coaches and facilities across the globe been so accessible.
How Your Fitness Business Can Respond to This Shift
Is this the end of in-person gyms as we know it? Doubtful. But with this shift, fitness businesses must also shift. Future fitness businesses must become hybrids of their former selves, especially focusing on technology integration.
Look for companies incorporating:
- Fitness app integration and tracking activities
- Catering to members wherever they are
- Increased data collection from members
- Online competitions
- Valuable online content creation and marketing campaigns
- Live stream and on-demand options
Going forward, convenience, entertainment, community (digital and in-person), personalization, and above all results, will define the new fitness industry. Consumers have more and more options and fitness facilities will need to make pertinent changes in order to keep up with the technology and industry shift.
Need help making some changes? Contact AF Consulting Team today for a free consultation.
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