As we gear up for 2024, the world of fitness and wellness is abuzz with anticipation. According to Lululemon’s 2023 Global Wellbeing Report, a whopping 67% of people now prioritize their wellbeing, yet only 12% feel they’ve reached their fitness goals. So, what can we expect in the coming year as we strive to bridge the gap between our aspirations and our current reality?
Connected Fitness: A Rollercoaster Ride
Connected fitness, once the darling of the health-conscious, is facing turbulence. Lululemon bid farewell to its connected fitness unit, Mirror, signaling a potential shift in consumer preferences. Despite Peloton’s rebranding efforts and holiday deals, challenges persist. The industry’s focus on premium hardware may be losing its luster, with companies like Tonal and Hydrow facing layoffs. However, the narrative might change as in-person workouts make a grand return.
In-Person Fitness: The Comeback Kid
While connected fitness grapples with uncertainties, in-person workouts are back stronger than ever. Boutique fitness, now constituting 42% of all gym memberships, is on the rise. Brands like Planet Fitness and Crunch Fitness are capitalizing on this resurgence, offering affordable and expansive options. As in-person fitness gains momentum, it poses a counterpoint to the struggles faced by connected fitness platforms.
Weight Loss Drugs: A Game-Changing Frontier
The fitness landscape is also witnessing a paradigm shift with the emergence of weight loss drugs. GLP-1 drugs, estimated to create a $100-200 billion industry by 2030, have already made waves. WeightWatchers pivoted to offering access to these drugs, and food giants like Nestlé are adapting their products. Fitness clubs are not far behind, with Life Time and Xponential Fitness integrating weight loss clinics into their offerings, emphasizing a holistic approach to health.
Strength Training: The Gen Z Fitness Favorite
Strength training continues to surge in popularity, especially among Gen Z. Pilates, yoga, and strength training topped the charts in 2023. Brands like Les Mills, Nike, Pure Barre, and CorePower Yoga are tailoring offerings to cater to this trend. The visually appealing nature of strength training, coupled with scientific endorsements, has contributed to its meteoric rise, creating a fitness revolution that shows no signs of slowing down.
Fitness Wearables: Beyond the Basics
Wearables are evolving into personalized health clinics, monitoring not only fitness goals but overall health. Heart rate monitors, FDA-approved for detecting abnormalities, have become standard. Innovative features like Whoop’s Health Monitor and Oura’s Circles allow users to share data with medical professionals or friends. The integration of strength training metrics into wearables is another milestone, making them indispensable tools for fitness enthusiasts.
VR Fitness: A Virtual Revolution
While connected fitness faces challenges, virtual reality (VR) fitness is emerging as a dynamic field. Les Mills and Xponential Fitness are investing in VR workouts, bringing boutique fitness classes to your living room. Even on the athleisure front, Alo Yoga is exploring VR shopping experiences. Despite some legal tussles, Meta remains committed to the potential of VR in making workouts engaging and enjoyable.
In this dynamic landscape, Premier Fitness stands out as a key player enhancing fitness environments. As we step into 2024, the fitness and wellness journey promises excitement, innovation, and a renewed commitment to a healthier and happier you. The only certainty is that the fitness industry is poised for another year of unstoppable growth, and we’re all in for the ride!
Learn more by contacting us today!