3 Key Trends for the Fitness Industry in 2024
Wellness is no longer a trend but a lifestyle – and consumers are looking for solutions to improve their health that are supported by scientific evidence and data. That’s the key take-away from a recent McKinsey report, "The trends defining the $1.8 trillion global wellness market in 2024". The study pinpoints top trends that are shaping consumers’ choices and market dynamics in the rapidly expanding wellness industry. Here, we deep dive into three of the most interesting insights.
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Wearables are entering a whole new era
Once a niche piece of tech for fitness enthusiasts, wearables have become a normal part of everyday health monitoring. Roughly half of all consumers surveyed in the McKinsey study have purchased a fitness wearable at some point.
So, it goes without saying that usage and interest in wearables are increasing. Many respondents reported using their devices more frequently than before and are open to tracking even more health metrics as the technology improves.
And greater tracking means better guidance, more effective workouts and faster results. In partnering with leading wearable brands, like Apple Health, Fitbit, and Garmin, EGYM makes it easy for members to link their fitness wearables with EGYM Trainer and Branded Member Apps and connected devices. It gives trainers better data to build training plans while giving members a holistic view of their fitness journeys.
AI is powering personalized fitness
Many people surveyed in the US prefer wellness products and services that are tailored for them. Thanks to new technology and the use of personal and health data, these personalized features are getting even more accurate and providing better insights. This includes fitness gear and apps that use AI to create workouts customized to their specific information.
People will spend more on in-person fitness
Fitness has become a core part of many people's identities – 82% of US consumers now consider wellness a top or important priority in their everyday lives. This evolving perspective has led to an increased willingness to spend more on in-person fitness classes, personal training, maintaining gym memberships, and using fitness apps.
That’s good news for fitness clubs, but the fitness industry is as competitive as ever. The challenge lies in standing out, retaining members and offering that little something special by enhancing your offerings with best-in-class facilities, convenient access, engaging community experiences, and personalized services, says the report.
To read about all the trends and growth areas, see the full McKinsey report.