Fitness Industry Growth and Membership Surge

The fitness industry is growing at a rate of approximately 8.7% per year, with a projected market value of $96.6 billion by 2024. In addition, the global number of health and fitness club memberships is projected to reach 230 million by 2023.

This growth signals robust growth for the fitness industry, fueled by increasing consumer interest and purchasing power. 

2024 Fitness Industry Trends

1. Booming Interest in Holistic Wellness Integration

Valued at over $1.5 trillion, the wellness industry, with its 5-10% annual growth rate, reflects a shift towards holistic well-being. The industry is pivoting towards integrating mental wellness with physical workouts, emphasizing a holistic approach. 

The itness industry should be aligning with this trend by diversifying offerings and focusing on overall health, nutrition, recovery, sleep, meditation, and other wellness programming. Nutrition-centric workouts, facilitated by intelligent apps and devices, are gaining traction. Recovery methodologies are also receiving more attention, highlighting the importance of post-exercise recovery and nutrition in fitness regimes.

Benefits of Adding Wellness Programming

2. The Hybrid Revolution: Digital Fitness and Wellness Technology 

Members demand personalized and integrated hybrid fitness and wellness solutions now. By creating accessible in-person and digital experiences, you can create opportunities for fitness and wellness anytime and anywhere.

Gyms offering hybrid fitness solutions saw a 20% annual growth rate from 2021 to 2023. In 2024, 45% of consumers will prefer hybrid models. Digital fitness will continue to grow significantly by 2027, driven by consumer interest in health-tracking devices and digital workout tools. Telefitness is also growing, making expert fitness advice more accessible.

Digital Fitness and Wellness Stats

• 57% of consumers are interested in a device to track their health & send information.
• 37% of users desire digital tools for club-based workouts
• The market for IoT-enabled health devices is expected to reach a value of $267 billion by 2023.
• The fitness app market size globally is expected to reach $14.6 Billion by 2027
• Online Fitness is projected to grow at CAGR of 33.1% between 2021 and 2027
• Facilities must adapt by integrating digital strategies to stay relevant. 

3. Personalization: The Future of AI and VR

Artificial Intelligence (AI) and Virtual Reality (VR) enhance fitness and wellness offerings are set to redefine the fitness experience. With AI’s capability for personalized experiences and VR’s immersive environments, fitness and wellness routines are becoming more engaging and tailored.

4. Wearable Technology and Sustainability

Next-gen wearable tech is evolving beyond basic fitness tracking, offering insightful health analytics and real-time coaching. Concurrently, there’s a growing emphasis on sustainability, with eco-friendly gym equipment and workout attire becoming more prevalent.

Challenges and Opportunities

The fitness industry faces challenges like ensuring data privacy with AI, transitioning to sustainability, and optimizing hybrid models. However, opportunities abound in fostering global digital communities, integrated wellness solutions, and innovative revenue streams.

Conclusion

In 2024, the fitness industry is embracing a future shaped by technological advancements, a commitment to holistic health, and innovative business strategies. Navigate these trends and leverage these emerging wellness, digital, hybrid, and technology opportunities.

Ready to learn how to take advanatage of the 2024 Fitness Trends? Let us help you enhance your member experience, add virtual technology, and use data and AI to develop your fitness and wellness content strategy. Email us: INFO@WEXER.COM

The post 2024 Fitness Industry Trends Driving Growth appeared first on Wexer.

Paul Bowman, CEO of Wexer,  sits down with Troy Morgan, the former Head of Wellbeing Strategy and co-investor of Springday, a digital wellness platform dedicated to enhancing the well-being of organizational personnel, to discuss a notable shift in corporate wellness.

 

“The ability to connect into those digital ecosystems of work and completely embed well-being is where the future will be. Creating small changes in employees’ well-being can have major impacts on productivity and the bottom line of their organization”

~ Troy Morgan, Former Head of Wellbeing at Springday ~

A 2022 global report from Gallup shows that only 33% of employees are “thriving” in wellbeing, showing a drastic need for change in the corporate wellbeing industry. The decade-long transformation has converged at the intersections of fitness, technology, and employee engagement. It traces the journey from traditional approaches to the current era dominated by digital platforms and artificial intelligence. 

In his former role as the head of well-being strategy, Troy provided valuable insights into the challenges and lessons from fitness-focused initiatives to comprehensive corporate health programs. He and Paul address critical components of successful corporate wellness initiatives, emphasizing the importance of leadership buy-in, strategic engagement, and the integration of emerging technologies like AI.

The success of corporate wellness industry programs hinges on engaging employees. Before addressing specific wellness goals, organizations must ensure active participation and interest from their workforce. Paul Bowman and Troy Morgan highlight the paramount importance of engagement in corporate wellness, emphasizing that fostering a healthier and more engaged workforce is not just a desirable objective but a strategic imperative on a global scale. They invite listeners to unravel the layers of corporate wellness, exploring past, present, and future trends shaping how organizations approach the health and vitality of their workforce.

Employee Engagement in the Corporate Wellness Industry

Central to the success of a corporate wellness program is active employee engagement. The podcast underscores that before addressing specific wellness goals, organizations must ensure participation and interest from their workforce. The conversation between Paul Bowman and Troy Morgan highlights the paramount importance of engagement in corporate wellness. Fostering a healthier and more engaged workforce is positioned not only as a desirable objective but as a global strategic imperative. The evolving landscape, influenced by digital platforms, data analytics, and a heightened focus on employee well-being, underscores the need for organizations to proactively engage their workforce.

It’s crucial to explore insights derived from experiences, showcasing the evolution from traditional fitness-focused approaches to the contemporary era dominated by digital platforms and artificial intelligence. Paul and Troy emphasize the necessity of tailoring well-being initiatives to individuals, recognizing that a one-size-fits-all approach is no longer sufficient. The acknowledgment of diverse needs within a workforce becomes a focal point, signaling the importance of customization and personalization in fostering a healthier and more resilient workforce. This individualized well-being approach emerges as a key element in reshaping the landscape of corporate wellness, acknowledging and addressing the unique well-being requirements of each employee.

The Role of C-Suite With Corporate Wellness

Leadership buy-in, especially from the C-Suite, emerges as a crucial factor for the success of corporate wellness programs. The commitment of the C-Suite helps drive organizational culture change and sets the tone for employee participation. Strategic engagement by leadership is positioned as a cornerstone in the discourse on corporate wellness. Proactive involvement and support from top-tier executives are integral to the success of corporate wellness initiatives, influencing the trajectory of these programs and ensuring their alignment with broader organizational goals.

Measurable outcomes and data utilization constitute vital dimensions within the paradigm of corporate wellness. The evolving landscape is shaped by the convergence of digital platforms and data analytics, and utilizing measurable outcomes as benchmarks is key for success in corporate wellness initiatives. Troy Morgan emphasizes the importance of data in assessing program efficacy and tailoring interventions. This serves as a guide for organizations seeking to harness the power of measurable outcomes and data utilization in optimizing the health and vitality of their workforce.

Artificial Intelligence and Corporate Wellness

The integration of artificial intelligence (AI) and technology emerges as a pivotal theme in the corporate wellness industry. The dialogue underscores how the synergy of digital platforms, data analytics, and a growing emphasis on employee well-being has propelled the industry into a new era. 

Specifically, Paul and Troy explore the integration of AI within corporate wellness initiatives. Organizations need a compass to navigate the complex terrain of technological integration and strategic approaches to problem solving. The potential of AI to personalize well-being programs is equally interesting, making technology more effective and responsive to individual needs.

The importance of a holistic and data-driven approach, leadership commitment, and the integration of emerging technologies in corporate wellness programs is key to evolving the realm of corporate wellness and offering comprehensive perspectives on the shifting landscape. 

Key takeaways encompass the crucial role of leadership buy-in, the strategic engagement necessary for successful initiatives, and the integration of cutting-edge technologies such as AI. The emphasis on measurable outcomes and data utilization, the focus on individualized well-being, and the overarching commitment to employee engagement collectively form a roadmap for organizations navigating the intricate terrain of workforce health are all key components. 

As we unravel the layers of corporate wellness, it becomes evident that fostering a healthier and more engaged workforce is not just a goal but a strategic imperative for organizations worldwide. Continuing discussion on the ever-evolving landscape is a valuable resource for organizations seeking to adapt and thrive in the ever-evolving corporate wellness industry.

Ready to learn how to take advanatage of the 2024 Corporate Wellness Trends? Let us help you utilize your data, virtual technology, and AI to develop your corporate fitness and wellness content strategy. Email us: INFO@WEXER.COM

For More Information:

Contact: Troy Morgan on Linked In

Springday

Podcast Episode 30

The post Future Of Corporate Wellness Must Focus On Employee Well-Being appeared first on Wexer.

As founder of The Huffington Post, Arianna Huffington has long been a thought leader and trailblazer. A recent Quartz article served to remind us of exactly this fact. Because it was way back in 2016 that Huffington created Thrive Global – a company that, as the home page of its website boldly states, is “on a mission to end the burnout epidemic”. Thrive Global’s is working to “debunk the collective delusion that burnout is the price we must pay for success”.

Indeed, in a recent Deloitte survey, 95% of executives agreed they should be responsible for employee wellbeing, while 83 per cent said they would increase their responsibility to it over the next two years.

Yet increase it they must, because there remains a significant gap between appreciation in principle of the value of employee wellbeing versus acting on ensuring wellbeing is embedded at the heart of a business.

Corporate Wellness Is In Everyone’s Best Interest 

The same Deloitte report found that around one in three employees and executives are constantly struggling with fatigue and poor mental health. That 57% of employees and 69%of executives are seriously considering quitting for a more supportive job. That on average 72% would be more likely to stay with their company if it better supported their wellbeing. And that 68% of employees and 81% of the C-suite see improving their wellbeing as more important than advancing their career.

Yet in spite of all this, obstacles still stand in the way of doing things that would help – taking micro-breaks during the day, finishing work at a reasonable hour, taking a proper lunch break and getting good quality sleep, for example. The most commonly quoted issues: having a heavy workload or stressful job (30 per cent) and/or not having enough time because of long working hours (27%).

It doesn’t help that C-suite executives consistently underestimate how much employees are actually struggling with their wellbeing, or that – while 91% of executives believe their employees look positively on their company’s wellbeing efforts – in fact only 56% of employees believe their employer cares about their wellbeing.

Companies must tune in far better to their workforces’ needs, then act on them.

And it really is in everyone’s best interests. Even as long ago as 2016 – before issues were compounded by the pandemic and the challenges of hybrid working – a study by Global Corporate Challenge found that employees may miss an average of four days annually, but that they’re unproductive for almost 58 days a year. This presenteeism was reported to cost businesses 10 times more than absenteeism.

As Huffington explains: “Employee wellbeing and mental health improve business metrics like retention, attrition, productivity and healthcare costs.”

How to Start Corporate Wellness

The 2022 Employee Wellness Industry Trends Report by Wellable Labs highlights some interesting shifts in focus among organisations already striving to deliver corporate wellness.

• On-demand fitness is hot, appreciated for its flexibility and affordability, and is seeing a scaling up of investment
• On-site classes and reimbursement of gym membership are being dialled back
• Mental health is a top priority and an area where more resource is being added, including meditation, mindfulness and stress management
• Companies appreciate the importance of proper sleep, but have yet to find the resources they need to support their employees in this way

It almost reads like a who’s who of the Wexer offering, with our Mobile ecosystem putting world-class wellness content – covering all of these areas and more – in people’s hands wherever and whenever they need it, through any connected device.

Because it’s all very well encouraging micro-breaks and proper lunch hours, but you do also need to hand your employees the tools to turn these into wellness breaks.

That might be as simple as easing and re-mobilising their bodies after sitting at a desk all day. It might be achieving a moment of calm during their commute, re-energising during their lunch hour by getting their heart pumping, or winding down at the end of a busy day.

Whatever they need, they’ll find it in our ever-growing, market-leading corporate wellness library. We have a huge collection of mind-body and meditation classes. We have relaxation sessions and guided stretching. We’ve partnered with Sweat Factor to offer its fantastic Office Fit series, as well as Self-Care by Sweat Factor. Mind123 takes a holistic, educational approach to all facets and contributors to wellbeing. And we even plug the gap identified by Wellable Labs, providing content around sleep in the shape of Sweat Factor’s Sleep Stories.

And that’s without touching on the vast library of health and fitness content – from cardio and strength to dance, cycling, HIIT and far, far more besides – to get those endorphins flowing, stress released and mental focus regained.

Wexer is here to help you create a first-class corporate wellness for to improve employee wellbeing.

Read more here or get in touch at info@wexer.com

The post Corporate Wellness Strategies: How to Take the Leap to ‘Nailing It’ appeared first on Wexer.

We also feature a recent interview about the 2024 hospitality trends with Paul Bowman, CEO at Wexer, and Joe Berselli, Senior Director of Global Hospitality from Core Health and Fitness. Joe’s role at Core Health and Fitness is to position the company as leader in the global hospitality fitness industry.

See how microtrends are driving guest experiences in this article about how macro wellness trends are redefining fitness and wellness in hospitality, and learn how how these trends are crucial for building customer loyalty and enhancing the guest experience.

The Driving Force For Hospitality Trends: Guest Loyalty

In the current hospitality climate, customer loyalty has emerged as the paramount factor. Enhancing the guest experience is pivotal in cultivating this loyalty. Incorporating diverse fitness and wellness options significantly elevates the guest experience, making their stay memorable and encouraging word-of-mouth promotion. Notably, 60% of hospitality content now prioritizes wellness, aligning with guests’ desires to relax and feel rejuvenated during their stay.

Evolving Guest Expectations In Hospitality Trends

Today’s travelers expect more than just a comfortable bed. They seek a holistic experience that caters to relaxation, de-stressing, and fitness within their limited schedules. Short, efficient workouts, such as 30-minute sessions, are increasingly preferred. This trend has led to the adaptation of booking systems, offering greater customization with fitness and wellness experiences.

Integrative Hospitality Trends To Enhance Guest Fitness & Wellness Experiences

The hospitality industry is responding with strategies to deliver fitness and wellness solutions:

1. Upgraded Fitness Facilities

 Many hotels are reimagining their spaces, transforming traditional fitness areas and underutilized meeting rooms into dynamic wellness zones. For instance, some chains are converting meeting rooms into small group exercise spaces, perfectly catering to company meetings and travel needs. These spaces allow for higher utilization, with guests rotating workouts on equipment like the Stairmaster 4G, significantly increasing guest rotation compared to traditional treadmill facilities.

2. In-Room Fitness Options

The demand for privacy and convenience has spurred the growth of in-room fitness offerings. Hotels are now designing rooms with dedicated fitness corners, spanning 10-20 square feet, allowing guests to exercise in the privacy of their own space. This trend reflects a deeper understanding of guest preferences for personalized workout experiences.

 

“The hotel room is not just a place you sleep, shower, eat, and work anymore. Guests want to relax, de-stress, and workout by consuming digital fitness and wellness content in the hotel or their room in 25 minutes or less. ”

~ Joe Berselli-Senior Director of Global Hospitality from Core Health and Fitness ~

3. Cultural Sensitivity and Personalization

Cultural differences play a crucial role in shaping fitness and wellness offerings. Hotels are increasingly tailoring their services to accommodate varying cultural needs, ensuring a more personalized and comfortable experience for all guests. This approach not only enhances guest satisfaction, but also reflects a commitment to inclusivity and respect for diverse backgrounds.

4. Technological Integration and Content Relevance

The integration of technology in fitness and wellness is a cornerstone of this transformation. Smart in-room technology, digital fitness content, and health-tracking devices are becoming standard amenities in modern hotels. These innovations offer guests seamless and customized wellness experiences at their fingertips.

Check out the 2024 Hospitality Trends and watch the interview with Paul and Joe to learn insightful and comprehensive analysis for the hospitality sector. The emphasis on enhancing guest experiences through personalized fitness and wellness offerings is a testament to the sector’s commitment to evolving with consumer preferences and technological advancements, ensuring not just customer satisfaction but also loyalty and advocacy.

Ready to learn how to take advanatage of the 2021 Hospitality Trends? Let us help you utilize your data, virtual technology, and AI to develop your fitness and wellness hospitality content strategy. Email us: INFO@WEXER.COM

For More Information: contact Joe Berselli at LinkedIn.

Podcast Episode 29

The post 2024 Hospitality Trends: Fitness & Wellness Elevates Guest Experiences and Loyalty appeared first on Wexer.

Research by the Australian government and a global Deloitte Report, commissioned by The Global Health & Fitness Alliance, in collaboration with AUSactive, shows the remarkable achievements in Australia’s fitness sector. Australia’s fitness industry plays a pivotal role in bolstering the nation’s economy. 

We recently interviewed Barrie Elvish, AUSactive CEO, to discuss the fitness industry trends and how AUSactive is revolutionizing the fitness, health, and wellness environment in Australia. AUSactive’s role is to promote health and wellness through active lifestyles. The fitness industry association is the largest in Australia and recognized by the government.

COVID was a fantastic opportunity to demonstrate to the sector the need for a strong voice and message. AUSactive’s membership grew by 15% each year during COVID. 

“Going to the gym is the second most popular physical activity in Australia after walking. It surprised many people just how much Australians are using health and fitness centers such as gyms, cycle, yoga and pilates studios, dance, group classes and many others to get active.”

~ Barrie Elvish, AUSactive CEO ~

Research by the Australian government and a global Deloitte Report, commissioned by The Global Health & Fitness Alliance, in collaboration with AUSactive, shows the remarkable achievements in Australia’s fitness sector. Australia’s fitness industry plays a pivotal role in bolstering the nation’s economy. 

Australia’s Booming Fitness Industry

• Health and fitness sector contributes over $4 billion to Australian GDP
• While inactivity costs the healthcare system $2 billion per year
• Fitness participation in fitness, sports or gym activities doubled in the last 5 years, with over 40% of Australian participation over the age of 15 currently, up from 20% participation 5 years ago. 
• Over 8 million people over the age of 15 go to a gym at least once a year
• 3.7% Expected Annual Growth For Fitness Industry (2019 – 2024)
• 24-hour gyms in Australia have doubled since 2014 
• 12% of Australians use a fitness app to monitor their physical activities.
• 1.2 million people with a disability attend gyms
• 1 million non English-speaking people attend gyms 
• 150,000 indigenous people attend gyms
• Major growth was outside traditional commercial gyms

Tapping into the Australian Fitness Market Opportunities in 2024

As we explore the dynamic landscape of Australian fitness, there are numerous opportunities for fitness businesses to thrive. 

1. Mental Health Focus

The #1 reason people attend a gym is to improve mental well-being now. 

While some believe people start exercising because they want to look good and feel good, actual data shows that more people are going to the gym for their mental well-being. Before COVID, 19% were going to the gym for their mental well-being, but now it has risen to 29%. 

A recent meta-analysis from the University of Adelaide with over 100 credible research programs and over 100,000 participants concludes that exercise is one and a half times more effective in managing/mitigating anxiety and depression than medications or counselling.

Recommendation: Make sure you promote mental well-being with in-facility and virtual programs like yoga and meditation.

2. Offer Hybrid Models, AI, And Technology Integration

Hybrid

Australian fitness trends show hybrid fitness models are an important future fitness trend. By balancing in-person and out-of-facility content equally, you can offer every single customer to consume your product in the club, at home, or outside your facility, in the way that best suits them any time and anywhere. After COVID, your fitness members expect the in-club and out-of the club offering with a combination of live and on-demand fitness experiences.

AI And Technology

Artificial Intelligence (AI) is being used in many ways by organizations to innovate, improve, and scale up. AI is making a positive impact on fitness member-based businesses by helping them accelerate their digital transformation. AI constantly learns from the data it analyses, anticipating customer behavior from it. By doing so, fitness brands can create valuable content, boost revenue, and enhance customer experiences. Optimize your digital transformation by leveraging AI and technology.

Hybrid Opportunities For Workforce Education and Utilization

AUSactive recently had a Senior Management Summit to address how to take advantage of future opportunities to succeed in the fitness industry. They addressed how to take advantage of data, technology, and AI to make better decisions and create better fitness opportunities. 

One thing they addressed was the fitness workforce and how technology and AI will make a positive difference for the fitness industry, but we have not educated the workforce effectively on how to use these tools for their benefit.

Group exercise instructors, personal trainers and gym managers are leaving the industry. With COVID, many left to do their own thing or open their own clubs, and a lot of them haven’t come back. A lot of them haven’t come back because they saw the hybrid experience as a threat instead of taking advantage of the tools and use AI and technology to build their engagement. 

In addition, the average age of those who’ve stayed is actually increasing. If the industry doesn’t address this now, there is going to be a void in about 5 to 10 years if they’re not replaced when they retire.

So now is the time to train your workforce in how to use technology and invest in technology like user-friendly fitness apps, on demand digital technology, and live virtual classes. Your group exercise instructors and personal trainers should be part of the virtual and on-demand content you create to increase their engagement, improve member participation, and ultimately create better outcomes for members. 

Recommendation: Utilize technology and offer in-gym, virtual, and on-demand fitness content for broad appeal for members and fitness professionals.

3. Workout Convenience and Adaptability 

Fitness participants now expect 24/7 convenience. They want access to fitness and wellness anywhere and anytime. 24-hour gyms in Australia have doubled since 2014. Also, ensure you review your data, stay updated with industry trends, and adapt your fitness and wellness offerings. AI and technology are providing new opportunities constantly. 

Recommendation: Consider 24/7 gym access and provide hybrid content in-club and virtually through live and on-demand fitness content for greater convenience and availability.

AUSactive Role In Preventive Health

AUS active recently had a very successful “Fit For Office” Campaign highlighting the need to invest in preventive health strategies. The government data doesn’t lie. It shows the Australian health and fitness sector contributes over $4 billion to Australian GDP, while inactivity costs the healthcare system $2 billion per year. 

Barrie share, “The move to a preventive healthcare system is necessary.The current system is unsustainable and the sooner they acknowledge and address this the better off both our health and economy will be” He continued, “With a return on investment of a reported sixfold and a health system – that includes hospitals, the NDIS, aged care and increasing demands for mental welfare services – collapsing under the strain, surely a government talking of well-being budgets and the need to increase national productivity would seriously consider investing more in preventive health? The savings are significant, ongoing and exponential.”

AUSactive is working on a rigorous accreditation system to build a government regulatory framework that will be an opt-in program with financial incentives. 

The discussions continue about how to get members access to the NDIS, more private health insurance benefits, and ultimately Medicare funded preventative health programs. 

The insurers are telling us that if we can get something that has credibility and rigor behind it, it will drop premiums for public liability insurance and open up doors for AUSactive members to 

achieve better commercial income, better employment opportunities, and greater security.

A Win-Win For Fitness And The Australian Economy

As we review this comprehensive insight into the challenges, opportunities, and future trends in the Australian fitness industry. Position your Australian fitness business for the future by taking advantage of preventative health initiatives, government collaboration, mental well-being focus, convenience, and the potential impact of AI and technology as the industry is on the brink of transformative change. The prospect of a healthier and more sustainable future for Australia looms on the horizon.

Ready to learn how to take advanatage of future Australian fitness trends? Let us help you utilize your data, virtual technology, and AI to develop your fitness content strategy and best utilize your fitness professionals. Email us: INFO@WEXER.COM

More Information:

Podcast Episode 28 – AUSactive and Barrie Elvish

AUSactive – https://ausactive.org.au/

Email – Barrie.Elvish@ausactive.org.au

Barrie Elvish LinkedIn Profile

The post Australian Fitness Trends & AUSactive’s Preventive Health Role appeared first on Wexer.

NovoFit provides customised fitness solutions and has access to global fitness brands for the commercial, wellness, performance and functional training markets in Australia and the Asia-Pacific markets. 

“This agreement with Wexer further cements our partnership and allows us to provide our current and future customers with the cutting edge digital solution they require. The Australian fitness market is booming at the moment and we understand what it takes to build a thriving and successful fitness business in today’s innovative and changing market.”

~ Daniel Waide, NovoFit COO ~

This exclusive partnership means NovoFit will have access to Wexer’s leading digital fitness solution and, for Wexer, the ability to help accelerate the digital transformation of the Australian fitness industry. 

The  Australian market has been experiencing tremendous growth as our recent Australian fitness trend report highlighted. The industry generates more than $3 billion in revenue annually (Gitnux Market Data, 2023). Figures show there is a 34.7% user penetration in the Australian market, well above the industry average. The fitness industry is also expected to rise to 37.54% by 2028. (Statista, 2023) 

Following the recent partnership with Revo Fitness, Wexer has continued to increase their client base throughout Australia and the wider Asia Pacific(APAC) region. 

Working together with NovoFit helps to supply the digital wellness and fitness content demand in the Australian and APAC markets and supports the growth strategy of Wexer. 

Ready to learn how to take advanatage of of the Wexer and NovoFit partnership? Let us help you utilise your data, virtual technology, and AI to develop your fitness content strategy and provide the best content for your fitness facility. Email us: INFO@WEXER.COM

About NovoFit

For 40 years, NovoFit has been maintaining long-term strategic partnerships wit the world’s best-in-class fitness brands, developing industry expertise, delivering state-of-the-art fitness facilities throughout Australia and the Asia-Pacific(APAC) markets. 

The post Wexer’s Exclusive Partnership with Australian Distributor NovoFit appeared first on Wexer.

The Smart Fit digital solutions allow customers to be well-guided by trainers to work out both inside or outside the gym, through the Smart Fit App and Smart Fit GO (an on-demand workout platform).

About Thiago Somera

Thiago’s has a long history of international trade marketing and supply chain experience.Smart Fit entered the Latin American market in 2009 with the high volume, low cost fitness model. He was able to grow Smart Fit’s infrastructure to support their growth with physical clubs and digital platforms.

How Smart Fit Expanded Beyond Boundaries

Smart Fit’s journey began in 1996 as a premium operation, and in just 14 years, they expanded to an astounding 1400 clubs. However, this rapid expansion didn’t come without challenges. The company faced the daunting task of breaking into local markets that were not initially ready for such growth. Nevertheless, Smart Fit took on the challenge head-on, propelling the fitness industry forward in these regions.

Building The Smart Fit Infrastructure And Culture

One of the biggest challenges Smart Fit encountered was upgrading their supply chain to match the pace of their expansion. This required teaching how to construct and adapt quickly, efficiently, and cost-effectively. Today, with an improved infrastructure, Smart Fit’s supply chain builds an impressive 200 clubs per year, a testament to their dedication to operational excellence.

Keys To Growing A Digital Brand

Smart Fit has a strong culture of innovation with the goals of constantly improving the customer experience and the productivity of clubs.

Let’s explore the digital concepts that allowed Smart Fit to build their brands into a successful synergy between their physical gyms and digital offerings. Their customer-driven and data-driven culture leverages digital offerings to engage customers and stay ahead in the fitness market. 

Embrace the Digital Wave

Even before the pandemic, Smart Fit had its eyes set on digital trends. They launched their digital offerings, inspired by the success of platforms like Peloton, Wexer, and The Daily Burn in the US. Interestingly, Smart Fit took a different approach by not directly connecting their digital product with their physical gyms. They recognized that the customers engaging with their digital platform had slightly different needs and preferences than those who visited the gym.

Synergy Between Digital and Physical Offerings

To maintain a clear distinction between their digital and physical offerings, Smart Fit kept a separate brand and entity for their digital platform. This strategic decision allowed them to tap into different customer segments and avoid unnecessary cost overlap. The crossover between the two platforms was minimal, demonstrating the unique preferences of their customers across these channels.

Customer Confidence and Lifetime Value

Smart Fit recognized the importance of building customer confidence and understanding how it impacts lifetime value. They observed that less confident customers tend to engage more with digital products, while more confident ones frequent physical gyms. This insight allowed them to track lifetime value without being directly connected to the club and its systems.

Simplicity and Convenience

Thiago emphasized the significance of providing a hassle-free experience for customers. This experience is not just during membership sign-up but also when they decide to leave. Easy entry and exit processes ensure that customers feel in control and appreciated, ultimately leading to better retention and brand loyalty.

A Culture of Healthy Competition

Smart Fit boasts a unique company culture that fosters both collaboration and competition. The fitness directors share valuable experiences, product ideas, and industry insights while maintaining a healthy competitive spirit. This balance enables Smart Fit to innovate and stay ahead in a rapidly evolving industry.

Hyper-Personalization and Micro-Influencers

Smart Fit’s commitment to offering personalized fitness solutions is evident through their 150+ different programs, each tailored for specific personas or avatars. Additionally, they leverage micro-influencers on social media platforms like Instagram and TikTok to promote their products. This symbiotic relationship benefits both the influencers and Smart Fit, creating a circle of benefits.

Staying Agile During a Global Pandemic

The COVID-19 pandemic was a challenging period for all businesses, and Smart Fit was no exception. However, their ability to pivot quickly and adapt allowed them to grow a digital brand and retain a strong customer base. Thiago acknowledged that the pandemic was a shaking moment, but the approach they took proved effective in weathering the storm.

Embracing the Future with Technology

Smart Fit’s focus on technology is not just about flashy features; it’s about enhancing the overall fitness experience for customers, regardless of where they engage. Thiago emphasized that technology should bring meaningful improvements.

Smart Fit and Wexer share a similar vision about the power of agility, innovation, and customer-centricity in the fitness industry. By staying ahead of digital trends, embracing change, and continuously improving their products and services, Smart Fit carved a unique path to success. As the fitness industry continues to evolve, Smart Fit serves as an inspiration for other fitness operators to adapt, innovate, and thrive.

Contact Wexer to see how we can help you deliver a better fitness experience by growing a digital brand to deliver what your members want anytime and anywhere.

More Info:

Wexer Digital Fitness Key To Staying Relevent

Smart Fit

Wexer Podcast 21

The post The Secret To Growing A Digital Brand To 500K Subscribers   appeared first on Wexer.

Integrity Square’s mission is to advise, connect, and empower fast-growing companies, exceptional entrepreneurs, seasoned executives, and capital providers in the $4.2T Health, Active Lifestyle, and Outdoors (HALO) sector.

His education in finance from Harvard Business School and his passion for fitness and sport, are what ultimately led Pete to a business deal with Gold’s Gym brand in 1999. In 2010, he morphed the two finance and fitness competencies into Integrity Square. Pete is also the host of a leading business-to-business podcast, HALO Talks for fitness professionals.

Tune in to hear Pete share unique insights about the financial side of the fitness business, consolidation, and hybridization, and the relevance of the attention economy. This information is pertinent to your fitness business and will inspire you to upgrade your business playbook.

Pete Moore discusses the challenges facing the health club industry and the opportunities that lie in acquisitions. He emphasizes the importance of understanding one’s business model and aligning it with all facets of the operation.

Empowering Fitness Entrepreneurs

A passionate advocate for education in the fitness industry, Pete Moore shares insights into the Halo Academy. This unique program empowers fitness executives with the necessary knowledge to market their businesses effectively. We educate them on the financial side of this business and if we can educate more executives, we can get more capital. They can talk to people who have done it before. It’s a huge learning curve because you have to understand the language if you don’t come from the traditional roots of club management.

“The first thing I say to entrepreneurs is — How do you run your playbook? —- We wrote a book called Time to Win Again, which basically said if you’re a football team or a soccer team you have to have a strategy. You have a playbook. What’s your offensive strategy? And that strategy needs to be aligned in all facets.”

— Pete Moore —

The Role of Private Equity In The Fitness Industry

Discussing the role of private equity in the fitness space, Pete sheds light on the sources of funding backing growth scenarios. Most of the private equity that is backing companies in any growth scenario is coming from universities, endowment funds, pension funds, hedge funds, and retirement funds. 

Private equity money is important because it allows investors to get better returns that the stock market. One example Pete share is how Crunch’s private equity money came from the State of California’s pension plan, enabling them to obtain a better return than other investment alternative available.

Fitness Business Consolidation and Its Challenges

Pete Moore highlights levels of consolidation in the fitness industry. One approach is to go into a market by buying an established business, build thier prototype model around it, and then renovate whatever the clubs they bought. 

Then there are private equity firms that are backing consolidation plays, but they’re being very prudent about what they’re paying. It all comes down to unit economics for private equity guys. How much does it cost to build, how quickly does it ramp up, how soon can we sell it, what is the return, and then move on to the next one. So you have to focus on unit economics.

There is a lot of impact from pricing and tight debt markets on consolidation decisions.The debt markets are very tight right now because of Silicon Valley Bank and First Republic. Also, interest rates are getting higher to the point where if you’re an entrepreneur and you want to do a deal, you’ve got to be very careful about what rates you’re locking in for growth. Some of these debt facilities are 10 -15%, but 15% is a lot of money. Realize at the end of the day that there’s a big debt security and there’s no equity left for you guys. 

Hybridization and Leveraging Technology

The discussion delves into the significance of hybridization in fitness, where technology and human interactions work together to enhance member experiences. We emphasize the importance of using technology to understand and motivate members. Leverage technology to improve member experiences and building lasting relationships beyond the club walls.

You have to view hybridization and technology as weapons, and your javelin is your relationship with your members. This relationship needs to go outside of the four walls here and you need to be in a position to provide outcomes. You must understand what they are viewing, give them what they want, and then you can enhance their fitness experience. 

“Our research keeps pointing back to the fact that everyone wants outcomes. The fitness industry keeps talking in membership terms, but members want outcomes. And there is the disconnect. If you can relate the product to the outcome they want to achieve, you can hook them.”

— Paul Bowman —

To provide the best combined experience, our industry will really need to do great things. We can establish personal and physical relationships with people, and we can micro-target with the hybridization. 

“The point is we have to dial it back to how do we foster relationships, how do we help people, how do you get results. Hybridization is a no brainer because everyone’s got their cell phone. That’s basically all they stare at all day. So, if you’re not relevant on that phone, you’re not relevant anywhere.”

— Pete Moore —

Each fitness evangelist or group exercise instructor can be responsible for 50 to 250 of your members. Give them some showtime and realize that they could affect a larger majority of your members.

One example is we realized that 1,000 members were affiliated with three trainers, and those three trainers were only doing one session a week. So we weren’t serving a majority of the members because they couldn’t get access to that person. 

The digital and technology platforms within a club can allow more access to group exercise instructors and personal trainers and can help to scale their business. So getting people online allows you to provide more alignment. 

The Future Of The Fitness Business

Moore’s predictions for the future of fitness offer intriguing insights. From regional changes to club locations and subleasing areas, the industry’s transformation is expected to be driven by member preferences.

There’s going to be further segmentation and there’s going to be winners in each category. There are going to be 100 to 200 regional changes in U.S. fitness club locations, and they’re going to listen to their members to find out what they want. Everyone’s got to be working together to provide what members want. They may sublease areas or have profit centers inside to increase member  

The impact of the COVID-19 pandemic on the fitness industry has led to a surge in bricks-and-mortar fitness and the potential of digital platforms to get closer to members.

Building Value and Selling a Business

Pete shares the importance of building value in a fitness business and avoiding stagnation. Many people get into the fitness industry because they are passionate about fitness, but they have no clue about how to build value to sell a business. So he shares valuable guidance for entrepreneurs on how to plan for a successful exit strategy.

Paul Bowman and Pete Moore share a treasure trove of knowledge for fitness enthusiasts and industry professionals alike. Pete’s journey from investment banking to the fitness industry, along with his founding of Integrity Square and the Halo Academy, offers invaluable lessons for aspiring entrepreneurs. His insights into consolidation, hybridization, and the future of fitness provide a roadmap for industry players to navigate the evolving landscape successfully. As the industry continues to adapt and innovate, these valuable insights will prove essential in shaping the future of the fitness world.

Wexer Virtual Fitness

Integrity Square

HALO Talks Podcast

Podcast 20

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Thompson shed light on the challenges faced by the fitness industry and what the changing needs are for fitness professionals and what they will need to grow and be successful in the future. We explore the important points from their discussion, offering valuable insights into the fitness industry’s overall transformation.

Amy Thompson’s Journey to Becoming CEO of IDEA

Amy’s story began in junior college, where she excelled in various sports and nurtured her passion for health and fitness. After completing her degree in kinesiology, she transitioned into a career focused on personal training. After witnessing the remarkable transformation of her clients, it inspired her to pursue her own journey in the fitness industry. 

Amy’s journey to becoming the CEO and owner of IDEA Health and Fitness Association was not without hurdles. The impact of the pandemic on the association and the fitness space was a turning point that motivated Amy to take ownership and steer IDEA forward. In April 2022, IDEA was acquired by owner and CEO, Thompson. She has returned IDEA to its roots as a family-owned business with leadership principles for the health, fitness and wellness industry.  

The Role of IDEA

IDEA stands as a professional association dedicated to supporting fitness professionals and fitness business owners alike. IDEA membership helps pros navigate the competitive landscape with confidence. Members have access to customized training inspiration, mentorship, education, business solutions and resources. They also have access to publications, live events, and online educational courses. 

Changing Needs of Fitness Professionals

The pandemic posed significant challenges for Idea and the entire fitness industry. It forced a shift in approaches to create strategies by reinventing, innovating, and adapting to the changing landscape. Everyone had to embrace change and find new ways to engage with fitness professionals and enthusiasts.

The fitness industry is witnessing a significant shift, with professionals now viewing themselves as independent businesses rather than working as employees of a fitness business. This empowerment allows them to choose when and where they work, catering to their personal and professional aspirations.

To ensure independent fitness professional needs are met to achieve success, they must have access to education, resources, support, and mentorship. This underscores the importance of associations like IDEA to help foster their growth. Furthermore, the fitness industry has seen the rise of fitness content creators and influencers who leverage virtual fitness opportunities and digital content to reach and inspire larger audiences.

Engaging Different Generations 

The industry is experiencing a surge in younger generations seeking meaningful careers in health and fitness. Many individuals are leaving traditional corporate jobs to pursue their passions in the fitness realm. IDEA plays a crucial role by providing a platform for aspiring stars, connecting them with industry leaders by fostering a conducive environment for growth. Events like IDEA World serve as stages for professionals to showcase their expertise, learn from others, and create valuable connections.

Enhancing Health Outcomes 

The fitness industry has made great strides by making fitness more accessible for consumers, promoting inclusivity, and focusing on individual goals. The industry has shifted away from extreme fitness fads and expectations. Instead, the industry emphasizes personalized approaches to achieve overall well-being. By continuously developing new training methods and embracing digital technology, professionals can reach a wider audience and make fitness more accessible to all. The fitness industry now shoulders the responsibility of inspiring individuals to lead healthier lifestyles and prioritizing health outcomes.

Amy Thompson’s remarkable journey, from a passionate personal trainer to the CEO of Idea Health and Fitness Association, provides valuable insights into the evolution of the fitness industry. The industry is adapting to the changing needs of fitness professionals and enthusiasts, with a focus on individual goals and inclusivity. As the evolution of the fitness industry continues, fitness professionals and enthusiasts can look to IDEA for guidance, mentorship, and valuable connections for their fitness journeys.

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In today’s fast-paced world, the pursuit of wellness has become a top priority for individuals of all ages. Whether it’s physical health, mental well-being, or overall quality of life, people are actively seeking ways to enhance their wellness journey. 

In this comprehensive wellness trend presentation, we will explore how you can create a digital fitness content strategy to stay relevant and thrive in the evolving wellness landscape. We can show you how to leveraging generational wellness with this comprehensive digital fitness content strategy.

Defining the Generations

To effectively target your audience, it’s essential to understand the generational differences that shape their wellness preferences. Here’s a snapshot of the four major generations and their characteristics.

• Baby Boomers (Born: 1946-1964)
  • Optimistic
  • Competitive
  • Team-oriented
• Generation X (Born: 1965-1980)
  • Flexible
  • Informal
  • Independent
• Millennials (Born: 1981-2000)
  • Open-minded
  • Competitive
  • Goal-Oriented
• Generation Z (Born: 2001-2020)
  • Global
  • Progressive
  • Entrepreneurial

Understanding these generational traits will help you tailor your fitness content and marketing strategies to resonate with each group’s unique preferences.

Fitness Participation by Generational Segment

Before diving into crafting your digital fitness content strategy, it’s vital to know the fitness participation rates for each generation. This data will guide your efforts in targeting the right audience effectively.

• Gen Z: 55.8%
• Gen X: 64.2%
• Millennials: 70%
• Baby Boomers: 64.4%

These numbers indicate that there is a substantial market for fitness and wellness across all generations. Your digital content strategy can help you tap into these markets by offering content that speaks directly to their needs and preferences.

The Pursuit of Wellness

Wellness, as a concept, encompasses the holistic pursuit of overall health and well-being. It includes active engagement in practices that promote physical, mental, emotional, and social well-being, ultimately leading to a better quality of life. As a fitness business, you play a crucial role in facilitating this journey by providing the right resources and guidance.

Wellness Content Preferences by Generations

Each generation has its unique interests when it comes to consuming wellness content. Understanding these preferences can help you curate content that resonates with your target audience:

• Yoga and Meditation Classes
• Mindfulness and Breathing Sessions
• Virtual Group Classes
• Sleep Trackers
• Nutrition Consultation and Recipes
• Biometric Data Monitors

By offering a diverse range of content that caters to these preferences, you can keep your audience engaged and motivated in their wellness journey.

The Market Opportunity for Health and Wellness

The health and wellness market is experiencing significant growth, with research indicating an annual increase of 5-10%. This growth is driven by the increasing adoption of digital technology, smart devices, apps, and health trackers across all generations. The technology use gap between generations is narrowing, making it crucial for fitness businesses to embrace digital trends to remain competitive.

Key Considerations for a Digital Fitness Content Strategy

As a fitness business owner looking to leverage the generational wellness trend, here are key considerations to guide your digital fitness content strategy.

• Understand Digital Fitness: Amp Up Your Digital Offering
  • Invest in high-quality digital fitness content, including on-demand workouts, live streaming classes, and virtual personal training sessions.
  • Ensure a seamless and user-friendly digital experience for your members through a dedicated app or website.
• Choose a Content Partner: Pursue Data Partnerships
  • Collaborate with data partners to gather insights into your members’ preferences and progress. This data can inform your content creation and marketing strategies.
• Develop a Digital Strategy: Update Your Value Proposition
  • Revisit and update your business’s value proposition to align with the digital wellness landscape. Emphasize the convenience and accessibility of your digital offerings.
• Establish Your Digital Goals: Make Your Digital Experience Exciting
  • Set clear goals for your digital fitness content strategy, such as increasing member engagement, retention, and revenue.
  • Keep your digital offerings exciting by regularly introducing new content, challenges, and virtual events.
• Create a Digital Content Plan: Consider the “Whole Person”
  • Recognize that wellness is a multifaceted journey that includes physical fitness, mental well-being, nutrition, and social connection.
  • Develop content that caters to the “whole person” by offering a holistic wellness experience.

The generational shift towards wellness and the growing digital trends present a significant opportunity for fitness businesses. By understanding your target generations, adapting to digital advancements, and crafting a compelling digital fitness content strategy, you can position your fitness business for success in the evolving wellness market. Embrace the digital era, and empower your members to achieve their wellness goals with your innovative and personalized fitness content.

Keep your business relevantwith a digital content strategy! To find out how we can help you with your digital strategy, email me at: robert.louw@wexer.com.

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