The Disruption of the Fitness Industry

All of us love to look good, feel fit and energetic and we immediately notice?people who?people who?come across?as fit and enthusiastic. But with our busy work and life schedules most of us don’t really find time to work out regularly ...It is estimated that Indians work out only for?3 to 5 days a month against the global average of around 18 days…

Let me relate what’s happening in the fitness industry through a personal journey…Since my work involved extensive travelling from an early stage had got into doing a daily 10 to 15 minute stretching routine mainly to take care of the back and leg strains which come along with too much travelling and crouched sitting positions. When I shifted to Ahmedabad about 8 years back there was a major fitness centre just opposite my house so I managed to find time to visit them a couple of times…But when I would visit late in the evening, there wouldn’t be a trainer available to take me through the routine which brings us to some of the issues which prevents people from taking up fitness…

1. Lack of time…

Which also explains why even though lot of people take up memberships in fitness centres they find it difficult to really stick to the routine...It is estimated that about 40% of people do not complete the memberships that they take in gyms

Mintel research reveals that lack of time as the top barrier for exercising with almost a third (31%) of consumers say that they do not have time to exercise.

2.??????Fitness programmes suited to your requirements

When I shifted to Mumbai a couple of years back and I located a gym which wasn’t very near to where I stay…But considering the high rental costs the gym had worked out an innovative strategy to get maximum memberships..

They would offer a basic membership at a very rock bottom price for an annual package, which you had to pay in advance, but this price would not entitle you to a trainer though they would never say that anywhere and you would get to know it only after you had joined. So while the gym has the basic subscription of the year delivered to their account?you would have to keep waiting for the machines to get free and you would never be sure if you were following the right routine or even if you were following the right routine whether you were doing the workout?the right way..

Every time you tried to get help from the trainers, they would try selling you their trainer packages, which would be exorbitantly priced…

Therefore, what do general public do when faced with such situations

a) They take up walking and running, which is very natural and easy to do … But just walking would never help give you a full body workout...

Indians tend to choose very basic forms of exercise - as many as two-thirds (67%) of Indians who exercise typically do brisk walking. This is followed by 26% of Indians who do yoga/Pilates/CrossFit, 11% who do cardio and team sports (e.g. football, cricket), respectively, and 10% who do bodyweight exercises (e.g. push-ups, pull-ups, squats).

b) Use of one of the many apps that are there for workout regimes

I had tried out some of these and some of them are very effective on helping building up on a routine and taking it forward providing you with various stages to help you through the journey. However, the issue here also is while you will be following the specified routine or whether you are doing the routine the correct way is something, which you will not be still sure about though the apps are very detailed and clearly show how each exercise has to be done.

Another reason that drives the fitness industry is the social fitness angle, which come along with it

Social fitness in the traditional sense refers to things like registering for a Zumba or spin classes where people come to work out together as part of a course. It is also found that a gym that encourages socialization and has an inviting atmosphere is likely to increase membership retention among users.

The reason for this is simple. Humans are social creatures and having others to help us believe in ourselves and is a core fundamental aspect of the self-improvement process. It doesn't matter if we're seasoned pros at working out or if we have just joined the gym the day before; having someone who we can count on to go through the journey with us helps us stay the course.

Additionally, having someone who is trained in helping a gym goer out, whether it be through dietary advice or the adjustment of form, also increases a gym's participation rates.

People who are trying to kick a habit usually form support groups because humans have a psychological tendency to do better when they have the moral support of a group of people who are going through the same thing. Social accountability in fitness goes hand in hand with social media sites like Facebook and Instagram, allowing people to share photos of their post-workout selfies and their healthy meals.

Already, thousands of people have switched from hitting the gym three to five days a week and have moved their workouts into the home because of the reasons cited earlier

So what if we could take care of all these issues using technology, which is what some companies are trying to do...to disrupt the fitness industry?

Technology is also taking things further. Quantifying workouts has gone from just hitting the gym a certain number of days to checking metrics on how far a user has run, or how much a user has lifted over months. The upside of a gym in terms of offering a social meeting place is still valid, but it's quickly being eroded by companies that are utilizing new technology to bring that experience into the home.

Peloton, for example, has managed to single-handedly disrupt the fitness industry by offering people the option to work out from the comfort of their own homes while still staying connected to professional trainers. By bridging the gap between personal trainers and users, and offering a premium workout experience, Peloton has brought a gym into the home in a way that is unique to the 21st century.

Peloton, which started in 2012 with Kickstarter funding, found a way to bring the motivation and high energy of a spin class into customers’ living rooms. Their strategy was deceptively simple: design an exercise bike with the fit and finish of an Italian sports car. Then stream live workout sessions to a built-in tablet for $39 per month. Finally, foster a supportive culture (emphasis on “cult”) around the program.

Their next product the Peloton Tread, a treadmill priced at $4,000. Set to be released this fall, they are already available for pre-order, and the company is hoping to revolutionize in-home treadmills in the same way that they did exercise bikes.

The traditional spin class Flywheel has responded by launching a similar at-home bike, equipped with a tablet that streams live classes, charismatic instructors, and real-time leader boards. There are also a number of businesses taking advantage of streamed video classes without any proprietary bike. These programs, like The Pain Cave, offer cheaper subscriptions and encourage members to use whatever exercise bike they already have.

Like all industries, aggregators are also entering this segment and we have Bookyourgym Fitness Pvt Ltd, Playnlive Sports India Pvt Ltd, Gymer, Gympik Health Solutions Pvt Ltd, Fitternity, Fitpass and Growfitter who are also trying to make a mark in this segment…

There is also a company called Cult.Fit that is trying out a different approach. Cult fit does not rely upon machines, instead, there are group classes focused on functional training, such as kickboxing, crossfit and high-intensity interval training (HIIT). In addition, there are cardio and core development-focused classes like football, running, Zumba and yoga. Customers can book any class they want on the Cult.Fit app, opting for the level of intensity they think is most suitable.

Intel on the other hand has offered the promise of a gym of the future that uses IoT technology to customize workouts as users enter the gym, which will make trainers redundant…

The health club market is worth $87.2 billion globally and has grown every year since 2008.In the USA, there were more 39,570 facilities in 2018 (this excludes hotel gyms) [IHRSA 2019].

The number of health club locations puts India is 3,813 sites.

So the potential upside to growth is enormous and considering that according to the research, it was found that almost two-thirds (64%) of Indians say that they don’t exercise the potential upside to whoever works out the right fit addressing these issues is enormous..

The health of the fitness industry is not in a healthy (excuse the pun) state and will be disrupted...