Fitness Trends for a Healthier Lifestyle
The fitness industry has experienced steady growth in recent years, driven by consumers prioritizing health and wellness. Gyms across the country are reaping the benefits of this trend. As 2024 progresses, we delved into the data to examine the sector’s performance during the first months of the year. Did the strong showing in January persist beyond the season of New Year’s resolutions? And how did major gym chains like Planet Fitness, Life Time, Crunch Fitness, and EōS fare in Q1 2024 compared to last year?
Key Takeaways:
Steady Growth: Year-over-year (YoY) visits to fitness chains increased nearly every week from January to April 2024.
Diverse Demand: Visits to major fitness chains, from premium options like Life Time to more affordable ones like Planet Fitness, increased or remained steady, indicating a demand for diverse gym options.
Engaged Members: Data shows a strong correlation between visit frequency and length of stay at gyms. Chains that attract frequent gym-goers also see higher shares of long workouts.
Analyzing 2024's Fitness Surge
Fitness has been a consistent success story over the past few years, and the trend shows no signs of slowing down. YoY visits to fitness facilities were up nearly every week between January and April 2024, with the exception of the week of January 15th, when an Arctic blast kept many indoors. Even during the week of March 25th, Easter celebrations did not significantly deter gym-goers, demonstrating impressive resilience compared to a non-holiday week in 2023.
Diverse Options for a Growing Market
Fitness industry analysis of visit trends for eight major fitness chains highlights that the current fitness environment supports a variety of chains. Both premium and mid-range options like Life Time and LA Fitness, as well as more affordable choices like Planet Fitness and Crunch Fitness, saw visits increase or remain steady throughout most of Q1. All chains experienced YoY visit increases in April.
Catering to Varied Fitness Preferences
Gym-goers' habits vary, with some visiting several times a week for extended sessions, while others have a more relaxed fitness schedule. Leading chains’ visitation patterns reveal that gyms succeed by catering to these diverse preferences.
The gym market research shows a strong correlation between a chain’s share of frequent visitors (those visiting eight or more times a month) and the share of visitors staying longer than 90 minutes. Chains like Life Time and EōS attract highly dedicated gym-goers, while others like Planet Fitness and Anytime Fitness draw more casual visitors.
The positive visitation trends for both fitness chains attracting frequent visitors for longer workouts and gyms catering to casual exercisers indicate multiple successful models in the fitness industry for 2024.
Conclusion
The interest in gyms remains strong and shows no signs of waning. Visits continue to grow YoY, and the industry offers options for every fitness enthusiast. Whether you prefer occasional visits or a structured workout regimen, there’s something for everyone.