Jack Thomas’ Post

𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚 𝐅𝐢𝐭𝐧𝐞𝐬𝐬 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐) Australia fitness equipment market size is projected to exhibit a growth rate (CAGR) of 7.50% during 2024-2032. The rising integration of software-based coaching solutions that can monitor the amount of weight lifted, range of motion, number of sets and reps, etc., is primarily driving the market growth. 𝐆𝐫𝐚𝐛 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://lnkd.in/eMMQ2EU9 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 ● 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬: The Australian fitness equipment market is propelled by surging health consciousness, rising prevalence of lifestyle diseases, and the enduring impact of the COVID-19 pandemic. Government initiatives promoting physical activity and the increasing demand for home-based workouts further accelerate market growth. ● 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬: Integration of technology is a key trend, with smart fitness equipment offering personalized workouts and real-time feedback gaining popularity. Moreover, the rise of boutique fitness studios is driving demand for versatile equipment. A growing emphasis on sustainability is also shaping the market. ● 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬: While the market is expanding, challenges include maintaining consumer interest in home workouts post-pandemic, addressing price sensitivity, and ensuring product durability and safety to meet evolving consumer expectations. 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: https://lnkd.in/euHQ9Qsq #fitnessequipmentmarket #marketresearch #business #marketanalysis #markettrends #researchreport #marketreport #marketforecast #marketgrowth #businessinsights #industryanalysis #marketoutlook #growthprojections #marketstatistics #competitiveanalysis #trendanalysis #marketinsights #imarcgrou

Instead of focusing solely on attracting younger demographics with flashy new offerings, perhaps it's time to consider gyms that cater specifically to the needs of older Singaporeans. By providing tailored programs and a supportive environment, we can help improve the health and fitness of a demographic that is often overlooked.   What do you think?

“To Stay Fighting Fit Singapore Gyms Need New Workout Regimes”   Today’s article by Business Times, “RITUAL Gym’s closure of its four branches in Singapore last week sent shockwaves through the fitness community.”   “Yet, industry watchers should have seen it coming. The local fitness sector has been plagued by closures. Among them were boutique gyms Fenix Fitness, Haus Athletics, boOm and UFC Gym.”   “As more players fight for a smaller slice of the fitness pie, new models are needed”.   Are they?   Do we need more models? Do we need new workout regimes?   According to MOH’s most recent population health survey 40.5% of 20 somethings exercise at least 3x a week. (MOH 2022) And most of the gyms in Singapore compete for this client demographic.   But almost 70% of Singaporeans in their 40s and 50s do not do exercise enough.   And a staggering 90% of Singaporeans over the age of 55 are classified as frail (SGH 2021).   Instead of focusing solely on attracting younger demographics with flashy new offerings, perhaps it's time to consider gyms that cater specifically to the needs of older Singaporeans. By providing tailored programs and a supportive environment, we can help improve the health and fitness of a demographic that is often overlooked.   What do you think?   https://lnkd.in/gS7qDrK2   #FitnessIndustry #Singapore #Exercise #PersonalTraining #HealthyAging #Levitise

The Evolution of the Big-Box Gym 💡 The Big-Box Gym industry is at a crossroads, primarily dominated by High-Value, Low-Price (HVLP) gyms like Planet Fitness and High-Cost, High-Value gyms like Equinox or Life Time Inc.. However, I believe a shift is underway, driven by evolving consumer expectations and economic pressures. A new hybrid model could emerge that captures the essence of both. Consumer Insights Data contradicts the belief that discretionary spending in fitness is declining. Instead, people are increasingly investing in health and wellness, provided they see real value. This market evolution highlights a shift from seeking mere affordability to demanding enriched fitness experiences. Economic Pressures The operational costs of running gyms—spanning real estate to materials—have surged by about 30%, while membership fees lag behind. This economic reality pressures business owners, especially in the middle market, necessitating price adjustments to sustain their models. Current Market Dynamics The HVLP model, despite its success in member volume, doesn't fully meet the nuanced demands of today’s consumers. The reality that only about 30% of the U.S. population engages in regular exercise despite widespread accessibility suggests that lower prices alone don't equate to higher participation. Middle Market Challenges Middle-market gyms struggle with identity, often mirroring HVLP experiences without justifying their higher costs. I anticipate amenities like saunas and cold tubs will soon become standard, and these gyms will find themselves in a tough spot—neither economical enough to compete with HVLPs nor distinctive enough to rival premium offerings. The Emerging Market Anticipating the rise of a new gym category that offers high-quality experiences at fair prices, this model isn’t about elitism but about filling a gap in the market. Catering to those seeking more than basic services but hesitant to pay premium prices, this potential $99-per-month model could set a new industry standard, providing an elevated yet affordable gym experience. Conclusion The fitness industry is moving towards a more value-oriented approach. The middle market, previously ambiguous, now stands as the frontier for growth. Gyms that effectively balance cost and quality will capture this emerging segment, potentially creating the era of the $99 HVLP gym and redefining what it means to be a big-box gym. #HVLP #FitnessIndustry #healthandwellness

There's no magic pill, folks. If you keep chasing the current trend, be prepared to accept the risks. I've been told that I needed to have a USP. And at times, I worried about our uniqueness or rather, lack of it. But now I see, all these gyms that have been forced to close, were all unique. Having been in the industry for over 30 years, my goal has always been to ensure that I stay current on scientific research and rely on my instinct to evolve with the climate and manage client's expectations. Our gym is simple. No fancy or luxurious amenities. No contracts or big packages to tie you in. Why? Because this is Singapore. When is rent ever cheap? Cash flow needs to be consistent. So the "cheaper by the dozen" business model, while great for clients, puts the business at risk and eventually, you the client. At Tribody, our content isn't just a workout; it's a lifelong investment in wellness, backed by science. So, if you're still swayed by fleeting trends, go ahead. #tribodyfitness will be here, waiting to welcome you when you realize the true value of fitness for life. ##tribodynation #gym #joochiat #groupfitness #functionaltraining #strengthtraining #strengthandconditioning #cardioconditioning #athleticdevelopment #activerecovery

PROOF THAT CHINA’S HOME FITNESS REVOLUTION: A POST-PANDEMIC POWERHOUSE IS EXACTLY WHAT YOU ARE LOOKING FOR The pandemic has sparked a lasting shift towards home-based fitness in China, driven by tech-savvy urbanites, leading to increased demand for smart fitness equipment and a booming athleisure market. This transformation reflects a broader digital evolution in the fitness industry, with a hybrid future blending digital platforms and traditional gyms. As local brands gain favor, China's fitness and athleisure markets are poised for sustained growth. #homefitness #digitaltransformation #athleisuremarket https://buff.ly/3M6shCr

Hong Kong-based 24/7 Fitness has acquired Singapore's GYMMBOXX Pte Ltd, with plans to expand to 40 branches locally in 3 years. https://lnkd.in/g9SKZUtf “Gymmboxx was a good choice as both companies share the same business model, operation structure, and goals in the fitness arena in Singapore,” said Ingrid Wong, CEO of 24/7 Fitness. 24/7 Fitness, one of Hong Kong’s largest 24-hour fitness brands, operates 100 branches in Hong Kong, 22 in mainland China, and two in Macau. “Our goal is to establish a presence in major cities across Asia. Gymmboxx is a trusted brand in the Singapore community,” added Wong. Established in 2010, GYMMBOXX Pte Ltd was an early entrant into Singapore’s 24-hour gym market, starting as a single gym in Bedok and expanding to nine branches in the heartland. Following the acquisition in May, all nine Gymmboxx branches were rebranded to 24/7 Fitness. Lee Wei Hao, General Manager of Gymmboxx, called the acquisition a “strategic move” to enhance the brand’s presence and offerings in Singapore. By the end of 2024, 24/7 Fitness plans to open four more gyms in shopping centres, including Pacific Plaza and The Cathay, aiming for 40 branches in the next three years. “24/7 Fitness sees substantial growth opportunities in the Singapore market. Unlike other gyms, we offer clear and highly transparent pricing without joining fees or pre-payments,” Wong said. The group also plans to expand into Malaysia, Thailand, China, and Macau. Despite industry challenges, Lee noted, “Gymmboxx remained profitable and robust before our recent acquisition by 24/7 Fitness.” #Growth #Acquisition #Gym #Fitness #Investment #Scale #Business #HongKong #Singapore I The Business Times I SPH Media I Paige Lim

The number of gyms and health clubs in the UK has broken the 7,000 mark. There are now 7,009 gyms across the country, combining to a total of 10.7 million gym members. The figures come from the State of the UK Fitness Industry Report 2024, which was unveiled by market intelligence expert, Leisure DB, at the Evolve conference held in London today (6 June). Although the total number of gyms remains below the record high of 7,239 (in 2019), the figure is back over 7,000 after dipping below this milestone in 2023. Meanwhile, the number of gym members (10.7 million) marks a 4.1% increase in people taking up memberships since 2023. The increase in membership numbers means that 15.9% of the UK population is now a member of a gym. This penetration figure is up from 15.1 per cent in 2023 and surpasses 2019’s pre-pandemic high of 15.6 per cent. The penetration rates differ from region to region, however, with #NorthernIreland the lowest (11.3%) and #Scotland the highest (16.5%), followed by #England (16%) and #Wales (14%). For the first time ever, the State of the UK Fitness Industry Report will be free to download. Read more: https://lnkd.in/e7Uj9qhk Heidi Blackburn, David Minton, #fitness #gym #healthclub

5.6% of memberships at a gym or fitness centre are registered in Australia. So theoretically speaking, you're in the 95th percentile if you attend the gym. Possibly though you might even be top 4% given the notable number of memberships not used or inactive despite payments deducted automatically. Then you'd ascend more if you attend at least 3 times per week. For something relatively simple and as important for healthy ageing, joining a fitness centre, attending 3 times a week and working on bone and muscle strength puts people in very rare company statistically. Many things aren't difficult, they just require commitment and consistency. https://lnkd.in/eMzda9UY.

The Fitness Phenomenon: Why Gym Chains are Getting Back in Shape 🏃🏻♂️ Despite its vast population, Southeast Asia has historically seen low gym penetration rates, particularly in countries like Indonesia, where gym membership is valued at around USD 300 million. However, Indonesia is now approaching an inflection point driven by an increasingly health-conscious, middle-income population ready to invest more in wellness. Moreover, the pandemic significantly impacted the fitness landscape, pushing people towards at-home workouts. As the world returns to normalcy, there's a resurgence in demand for brick-and-mortar fitness studios, emphasizing the need for gyms that offer more than just equipment but also community and professional guidance. Indonesia's fitness market has traditionally been divided between premium mega gyms and local mom-and-pop outlets, leaving a gap for affordable, mid-tier options. This gap is now being addressed by new players like Anytime Fitness, FTL (Faster Than Light), and FITHUB. These chains offer premium facilities, group classes, and experienced trainers at accessible prices, catering to the country's middle class. Investments in the fitness industry are growing, with mid-tier gyms proving to be a lucrative business. They offer dependable revenue streams through long-term memberships and have relatively low capital expenditures. The fitness industry's growth is further bolstered by high consumer confidence and the influx of local and foreign investments. As Indonesia's disposable income rises, the fitness industry is set to thrive, with mid-tier gyms playing a crucial role in making fitness accessible to the masses. This trend is transforming the fitness culture in Indonesia, promoting health, community, and overall well-being. Curious about the future of fitness in Indonesia and the growth of gyms? Check out our newsletter for detailed insights and fascinating perspectives on this emerging trend. #OCBCVentura #FitnessClub #MonthlyNewsletter