ABC Fitness’ Bill Davis and Mindbody’s Fritz Lanman break down some of the key data points they’ve seen over the last year.
This article was adapted from a version originally published in ATN’s 2024 State of Fitness and Wellness report, which can be downloaded here.
As fitness and wellness settles into a new post-pandemic normal, some interesting data points are starting to emerge, most of which are encouraging for the overall health of the industry.
Athlete News spoke to the CEOs of ABC Fitness and MindBody, two of the largest software companies in the fitness and wellness space, to find out their thoughts on the key trends they’ve seen in the 12 months leading up to early 2024 and what they’re doing. I did. That could have implications for the industry moving forward.
Return of in-person fitness, especially in boutiques
It has been said that in-person experiences are surging post-pandemic, and the data backs this up.
“In-person fitness and wellness is exploding again, and formats that are difficult to recreate at home are on the rise,” says Fritz Lanman, CEO of Mindbody and ClassPass.
Lanman pointed out that in 2023, Pilates became the No. 1 workout on ClassPass for the first time ever. Part of the reason Pilates studios have become more popular than other fitness modalities may be due to the difficulty of recreating the reformer experience at home.
“Hot yoga bookings remained popular in 2023 because people can’t recreate this form of yoga at home,” Lanman added.
Another notable trend is the emergence of what Lanman calls “sport as wellness.”
“According to ClassPass research, sports and recreation bookings are up 92% from 2022, with 33% of consumers saying they prioritize fun and play specifically with the goal of supporting health. ,” Lanman added. “These unique in-person experiences will continue to rebound strongly for years to come.”
Consumers are more experimental than ever
Fitness and wellness consumers are returning to in-person experiences as well as wanting to try new things.
“Our findings show that the average active consumer has a high ‘wellness IQ’ and is interested in new modalities,” said Bill Davis, CEO of ABC Fitness. He said this while citing data from the January 2024 Innovation Report.
This was “further reinforced by a 22% year-on-year increase in new enrollments to studios and boutiques globally in January,” Davis added, citing ABC data.
Consumers have come to expect more than just fitness from their gym and studio experiences.
“We expect to see a new phase of growth in the fitness industry that incorporates nutrition, recovery and mental health as important parts of the average member’s fitness journey,” Davis said. I’ll tell you. “Whether it’s setting up dedicated recovery studios or adding cold plunge facilities to clubs, we’re seeing a shift in focus to holistic wellness. Studios, gyms and personal trainers are , a gateway to more holistic health opportunities for our members.”
Gyms and studios should also consider becoming active in philanthropic and community service activities.
“Our data also shows that 58% of active consumers think it is important for health clubs to embrace social causes,” Davis points out.
Make AI a priority – software can help
It’s no surprise that artificial intelligence (AI) will be front and center in 2024. Fitness and wellness brands are starting to experiment with AI in areas like personal training, motivation, and program design, but that’s just the beginning.
“We will continue to see the rise of AI in more fitness and wellness experiences,” predicts Lanman. “Personalized fitness is becoming increasingly important to consumers as every individual has different goals and needs, and companies and studios are already leveraging AI technologies, such as smart hardware and tailored plans. We are seeing unique benefits built into the programming.”
On the business side, fitness and wellness software providers are leveraging AI in creative ways to help gyms acquire, engage, and retain members.
Mindbody uses data to predict when customers will start to lose motivation to keep bookings, as well as machine learning to identify specific customers as “big spenders” who have spent their entire lives in the studio. .
ABC Fitness uses AI in a variety of ways, including helping predict member churn.
“The growing demand for technology options and personalization may seem like a challenge in our industry, but ABC Fitness aims to add new technology to club operators’ arsenal of tools and decision-making. Our goal is to help club operators redefine what growth looks like by helping them integrate seamlessly,” says Davis.
Spending on fitness and wellness remains high
Despite challenging economic conditions, including high inflation, consumers are still willing to pay for fitness and wellness services.
Household spending on fitness increased by 3% compared to January 2023, according to data from ABC Fitness.
“This data also shows that industry check-ins are up nearly 90% compared to pre-pandemic levels, reflecting the growing demand for access to healthy activities and the lifestyle of the average consumer. “It shows the importance of physical fitness,” Davis added.
We see a similar story in Mindbody and ClassPass data.
“Fortunately, we found that spending on health remains a priority, with 64% of consumers saying health is more important than other leisure spending,” Lanman said. However, he notes that brands should not be lulled into a false sense of security.
“Now more than ever, it is important for the industry to provide a very high quality experience and provide a space where consumers can spend their time and money and forget about their daily struggles for just a few hours a day. “It’s become important,” he says. .
