Author: liamvexfitness

For the past 3 years digital fitness has been gathering momentum with triple digit growth figures. With the covid-19 pandemic this has been  accelerated phenomenally. Meditation apps, digital fitness classes and online cookery courses are booming according to the Economist.

Pre Covid-19 market pentetration for digital fitness apps was somewhere between 20% to 30% depending on sources. With people now stuck indoors these statistics are being flipped on its head. The vast majority have no alternative but to go online.
For Gyms who’ve had their studios closed, they’ve been scrabbling to react. In a great article by Bloomberg Reese Scott says its been crazy “Going from having brick-and-mortar, an established clientele, and an established flow of business to all of a sudden I have to be very creative and launch a virtual online business in less than a week.” Most Gyms have gone to Zoom, Facebook live or Instagram TV to keep clients engaged. While the lucky ones who already have apps on the market like beach body’s are seeing subscriptions growth up 200%.

If we look post Covid-19, when the dust settles, what’ll have changed:

1. The 80/20 flip – 80% of people who go to the gym will now have tried some form of digital fitness  compared to the 20% before.

2. Physical moving to digital – Pre Covid-19, the digital fitness space was for niche players like peleton, beach body, PTs or online influencers. With the lock downs, physical Gyms have had to adjust and offer digital content to survive. Many will have realised the demand for digital fitness and how they can potentially generate a significant new revenue stream

3. User behavior changes – Demand will grow but will not replace physical gyms. In fact research suggests those who use digital fitness apps are more likely have membership at a gym as it complements their fitness goals.

 

The Results are going to be a new ultra competitive digital landscape within the fitness industry where each gym will have both a physical and digital offering. Every physical studio will have digital offerings that complement their physical classes delivered by trainers who have real relationships with members.

This combination of the physical and digital will be similar to the retail shopping world. Live and On-Demand content will become the new norm to compliment the days we can’t get to our favourite class on time.

Vex Fitness is a digital platform that allows gyms stream live or on demand content to its members through a revenue generating subscription model.