Megan Thompson builds a fitness bike in New York City.
Michael Loccisano | Getty Images
Julia Yuriyev has not yet bought a cave. Peloton Bicycle, but the 38-year-old public relations officer is actively meditating.
Yuriyev says she enjoys taking group lessons at her local fitness studio. But since it was reopened, she did not feel that the choice was enough. As many of her friends did, she said that she might consider moving to an apartment in Los Angeles.
“Home exercise is still an estimate for me,” Yuriyev said. “Yoga Studio [near me] It offers only a limited number of such components. They are backward … So just because of the law and the shortage of workers does not mean that all kinds are no more.
People in Yuriyev’s situation are choosing a mixed approach. This may come as a surprise to some investors who argue that consumer fitness options are one-or-one choices. Either consumers break the sweat at home as they did at the outbreak or visit the gym after receiving the CV-19 vaccine.
Peloton and Planet Fitness shares reflect this view. Peloton’s shares rose more than 440 percent last year. Planet FitnessShares grew 4%. This year, Peloton’s shares have fallen by 36%, while Planet’s fitness has increased by about 2%.
Demand for home fitness equipment has eased since the 2020 crisis, but it is still growing. According to the NPD Group, sales in the United States rose 85 percent from 2019 levels to $ 3.7 billion. Sales of fitness equipment increased by 20 percent year-on-year and 108 percent in two years, according to the market research firm.
The NPD team could not predict the category, but Analyst Matt Powell said He expects the market to be strong when people are looking for activities to keep shape. He said sales were up again in January.
Foot traffic to the fitness center is being improved. Visits dropped by 8 percent in early October compared to the same period in 2019, Jeffrey said. Traffic at the gym chains LA Fitness and The Edge Fitness Clubs recovered quickly from the epidemic, Jeffrey said, followed by crunch fitness and 24-hour fitness. Supported by Mark Wahlberg F45 training The lowest growth rate has been seen since last year, he said.
The client wears a face mask while lifting weights while working at the Planet Fitness Gym.
Patrick T. Fallon | AFP | Getty Images
“We are seeing clear evidence that people are ready to go back to the gym,” said Randy Conic, a Jefferson retail and fitness analyst. [at-home] Fitness equipment can remain relatively strong. “
Look for digital fitness platforms including Peloton and TonalConsumers’ commitment to New Year’s resolutions peaked in January. Then, in August, when Delta differences became a major concern, searches increased slightly, Jeffrey said. As home searches for high-intensity online sports such as jump rope and yoga mats reach their peak in April 2020, those questions have been declining ever since.
Still, Connie expects many U.S. households – if the choice allows – to choose a mixed method.
“People realize they can work out in the gym three days a week, and they do something three or four days a week at home or on the ground,” he said. “It’s all about comfort.”
This attitude is reflected in the latest offerings of fitness companies. Peloton It has a growing corporate security program.. MindBod is also a reservation platform for the health and health industry. Hoping to meet businesses When returning employees to office buildings.
Lifelong fitness, That is a high-end gym chain It was officially released earlier this month.At the time of the outbreak, it had redesigned the mobile app and started digital-only registration. That is still an option for customers.
Mark Mulett, co-founder and CEO of Obe Fitness, said the rapidly evolving landscape has allowed people to choose from the so-called “fitness buffet”. Obe is a home fitness app that provides live and on-demand fitness lessons for members who pay $ 27 a month.
“We love the fitness buffet. You work at home three days a week, one day you go to your local studio, and the next day you go to run with your friends,” Mሌትller said. “Our job is to make sure we provide people with all the content, all the communities and all the results they need.”
Obe recently started spinning lessons for members of his family who own bicycles or use the gym. The company has been working together SpaceAthletic brand, too. An investor To host fitness events in Obe.
Amid growing demand, new entrants are pushing for more space and companies to attract more customers.
Peloton He announced it would increase in August Advertising raises the price of bicycles and redesigns trade. Sales and marketing spending ended 24.5% of the three-month period on June 30, up 14% from a year ago.
Hydro, connected paddle maker ya Lison and Justin consider Timberleck as investors.In October, a hydropower marketing campaign was launched. During the holiday season, it will be featured in print and digital commercials, as well as on broadcast television. He declined to say how much the company would spend on the project, but said it was a “great effort” so far.
Hydro, a $ 2,295 paddle maker, said it had raised about $ 200 million.
Source fall- hydrow
“One of the goals of this campaign is to make the paddle easier and more accessible and appealing to a wider audience,” said Grace Sag Fleming, head of hydropower marketing. “This hydrangea idea is that people feel better and stronger after work.”
One of the hydraulic paddles sells for $ 2,295, $ 1,495 for a Peloton original bike and $ 2,995 for a tonal weight lift machine. Lululemon‘s Mirror device at a retail price of $ 1,495 LiteboxerAnd a home boxing device costs $ 1,695. These are just a few. You can also pay $ 2,799 to upgrade your home gym with CLMBR, vertical climbing wall. Frame Fitness, Connected Pilates Improvement Machine, on sale for $ 2,999. There are many more.
In addition to the cost of the device, users pay a monthly fee to access content. Peloton membership, for example, is $ 39 a month. Tonal membership is $ 49 per month.
“The indoor fitness explosion has been very similar to the e-commerce explosion in the last decade,” said BMO Capital Market analyst Simon Cigel.
“The door has been opened for the consumer to throw dollars at various related fitness makers,” he said. “Just like when it comes to e-commerce, when users allow retailers to enter the salon.”
The most successful companies will be as low-cost as possible – which means people will get stuck after a month, Siegel said.
“Ultimately, participation is crucial,” Cigel said. “So what does one not delete? That’s the big question.”
Peloton is one of the world’s largest and fastest-growing fitness companies. Peloton’s average net monthly activity was 0.73% in the last quarter. A six-year low of 0.31% was observed in the last quarter. During the winter months, the divorce rate will be lower.
Tonal and Hydro are reportedly exploring public offerings. The companies refrained from commenting on their plans.
Meanwhile, Peloton brand is betting that T-shirts, hats and sweatpants can be used as a walking sign – even if some users return to the gym.
In September, it dropped its biggest choice due to the high sales pressure around the company’s clothing arm. Advertisements for Peloton’s clothing are posted on billboards, digital subway stations, and New York City’s empty storefront.
In the Soho neighborhood of New York City, people walk in front of a store, where Peloton introduces the clothing line.
Source: Kevin Stankiewicz, CNBC
“When you see someone wearing a Peloton, you know you’re part of that community and there’s something sweet about it,” said Jill Foley, vice president of Peloton Clothing. “It’s really powerful.”
The entrepreneurs here say that community building is the key – both in the gym and at home. Kallil Zahar, founder and CEO of FightCamp at Home Boxing, said companies that make users feel like they belong to a group of like-minded people will face the test in the coming months.
“Now that we are back in the gym, many of the concepts of exercise that we encountered during the epidemic cannot be applied in the post-epidemic world,” said Zahar.
“But there is a silver lining for consumers as it forces companies to improve their products, and the companies that survive in these transitional years will be stronger,” he said. According to Zahar, the best products are those that bring new content and have engaging educators.
When she returned to Los Angeles, Yuriyev said she was still working on the cost of buying a home fitness machine such as Peloton. She says that her friends are encouraging her to make a decision.
“Flexibility is especially important in all remote operations,” she said. “And I really want that sense of community.”