By Hugo Braam, Special FBA Contributor
Sponsored by Virtuagym
Who could have predicted two decades ago just how much our lives would inherently change due to the internet, smartphones and wearable technology? Indeed, there was a time not so long ago when Apple’s main selling point for its first iPhone was its calling function!
Today, we use smartphones for almost everything. It is indicative of how differently we now deal and interact with information, brands and data: the demand for flexibility, convenience and personalization have quickly become the norm.
And this also applies to fitness. The technological advancements of the past few years alone have changed the face of the industry. The global fitness tracker market, for example, was worth $36.34 billion in 2020 but is now predicted to grow to an enormous $114.36 billion by 2028. Meanwhile, companies such as Zwift, Lululemon and Peloton are bringing advanced software into the homes of exercisers and delivering premium fitness experiences tailored to individual user needs. In addition, they all use three future-proof principles for success: data, gamification and personalization.
Over the next ten years, I foresee further development in terms of gamification and personalized user experiences within fitness, in parallel with exciting new software. As with smartphones and wearables, once new technology becomes affordable to the general public, it will open up a whole new market for fitness entrepreneurs. These affordable solutions also make fitness more accessible: the wider range, personalization and greater flexibility allow more people to exercise within their physical, financial and mental means.
Data-driven personalization
It is sometimes said that data is the new gold: it provides insight into the choices and behavior of your customers so that you can adjust your offer accordingly. I believe that the importance of securely collected data for fitness entrepreneurs will not diminish in the future. In fact, as we continue to improve our use of it, we will be able to provide even better, faster yet more sustainable ways to support our customers in achieving their health and fitness goals.
There are huge opportunities for data personalization of fitness experiences: think of automated flexible calorie goals depending on the amount of exercise in a day, or workout programs that adjust intensity in real-time by measuring exercise and heart-rate. Personalization has been an important factor in the fitness industry for years but increasingly innovative technology is making these experiences stronger and more accessible to new audiences, such as through wearables and integrated mobile apps. This creates a new mid-market segment, which will continue to grow over the next decade, of customers seeking flexible, personalized, and data-driven fitness experiences without paying top dollar.
Over the next ten years, I foresee further development in terms of gamification and personalized user experiences within fitness, in parallel with exciting new software. As with smartphones and wearables, once new technology becomes affordable to the general public, it will open up a whole new market for fitness entrepreneurs.
Gamification and software
I believe that fitness should not only be about being healthy but having fun, so I am especially excited about the progress we as an industry are making in using technology and data and applying it to gamification. This area offers huge growth opportunities for fitness entrepreneurs, who can use technology to tap into our innate social yearnings and competitive natures to create powerful group fitness experiences that connect people wherever they are. For example, heart-rate tracking linked to screens during group lessons or video workouts at home.
This will continue to be an ideal way for fitness businesses to enhance their communities, their brand experiences and the motivation felt by their members. And the added benefit of this? Better retention and less member churn.
Furthermore, I also believe that the continued development of cutting-edge technology such as virtual reality will influence the future of fitness and gain real momentum. This technology has finally reached a tipping point with the Oculus Quest II from Meta (formerly Facebook) – a portable, wireless and affordable solution - whilst the most popular virtual reality game in the world right now is an energetic dance game, Beat Saber. Different types of therapy and mindfulness are also increasingly being offered through VR. This immersive online world is just another route to connecting with new audiences with expanded offerings.
There is no substitute for real life
Nevertheless, it is important to still acknowledge the importance of physical clubs for the future of fitness. They will always remain the core of the fitness offering for a large part of our fitness community. The seamless integration of technology is supplementing physical fitness rather than replacing it. A technology-driven hybrid approach offers experiences that make fitness more fun, accessible and effective, and improves business efficiency, but it won’t replace the social aspects of the in-club experience. For example, in-person group classes, exercising with friends or simply a conversation at the entrance desk.
In short, the gym or studio will certainly not disappear but the range and ways in which fitness is offered will only grow and diversify, with the training experiences becoming increasingly rich. And that in turn enriches our industry - and our overall health!
Hugo Braam is co-founder and CEO of Virtuagym. Virtuagym provides innovative management, booking, and coaching software solutions for gyms, clubs, and studios. They have just launched PRO+, the world's first turnkey solution for fitness operators
Join the Conversation!