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The global wellness industry - which includes all products, services and businesses related to wellness - has grown by 12.8% in the last two years, as reported by the in-depth 2018 Global Wellness Economy Monitor research report released by the Global Wellness Institute.
The report shows that wellness is unquestionably considered a high potential industry. New sectors are rising, such as wellness real estate and wellness tourism, while more established sectors such as spas and thermal baths are increasing. The fitness sector is also growing, both in clubs and in at home and outdoor products.
In fact, many clubs have noticed that members who have the opportunity to train outside the club tend to stay loyal to the club for longer.
The possibility to train at home, for example, allows them to carry on following their training programs without giving up their active lifestyle during periods when, for many reasons, they can’t attend the club. On the contrary, people who do not attend the club for a period of time, without having the opportunity to train elsewhere, tend to leave the club in the medium term.
The possibility to train at home, for example, allows them to carry on following their training programs without giving up their active lifestyle during periods when, for many reasons, they can’t attend the club. On the contrary, people who do not attend the club for a period of time, without having the opportunity to train elsewhere, tend to leave the club in the medium term.
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According to the Allied Market Research, home fitness market is expected to grow at an average rate of 3% per year until 2025, reaching a global value of approximately $5 billion in 2025. The same research shows that the growth rate of equipment for fitness clubs should even exceed the growth of home fitness: the market of professional products for clubs is expected to grow by an average of 4.2% per year, reaching a value of more than $ 6.5 billion in 2025.
Therefore, data confirm that fitness clubs are destined to remain central to consumers;
Therefore, data confirm that fitness clubs are destined to remain central to consumers;
the club represents the wellness hub that prescribes the exercise and the program thanks to its competence and expertise
Starting from the central role of the club, operators are realizing that, in an era dominated by digital transformation, in order to retain their members in the long term, it is necessary to define new strategies that focus on the lifestyle of their members, both outside and inside the club. Thanks to new digital offers, clubs are defining new business models aimed at providing their services and engaging their members even outside the club. An example of this is Technogym’s Wellness on the Go strategy: thanks to Technogym’s unique digital ecosystem users are able to connect to their club's training programs and services anywhere and anytime, both on their Technogym equipment and on their smartphone.
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Additionally, the recent 2018 IHRSA Health Club Report, has also clearly demonstrated how the fitness club industry (fitness clubs + boutique studios) is responding positively to the overall growth in wellness-related consumption and the increased involvement of consumers in fitness programs and activities. Over the last five years, members of fitness clubs have grown by 18%, while members of boutique fitness studios have grown by 121%. In the same period, total industry revenues (commercial fitness clubs + boutique studios) have grown by 34%, reflecting the fact that consumers, in addition to being more and more interested in home fitness products, are increasingly looking for experiences, programs and services offered by clubs.