homefitness
According to AMA Research, the health and fitness market is experiencing change, driven by the equipment used and the growth of low-budget gyms. Bryony Andrews explores the market for in-home fitness equipment, and the opportunities it could hold for sports retailers
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MA Research’s report, which covers the commercial and home fitness equipment markets for the
period spanning 2014-18, states that: “The health and fitness industry has demonstrated modest growth over the past 5 years or so, mainly reflecting a difficult economic climate. It is estimated that the UK market for health clubs - including both the private and public sector - was worth almost £4bn in 2013, while the fitness equipment market, covering both commercial and in-home applications, is worth over £350m.” Volume sales of home fitness equipment
tend to be low – once bought, consumers do not usually need to replace expensive products like free weights and exercise machines. However, in terms of real sales, home fitness equipment can be a good way for retailers to diversify their offering and increase their revenue. The report found that trends and influencing
factors in the fitness sector have included a slowdown in the development of private fitness facilities, due to increasing competition and
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new exercise trends and product development. The average price of gym memberships is rising, and whilst Britain has now emerged from the recession, they still demand sustainable, affordable ways to keep fit.
The home fitness sector has been under
pressure from depressed income levels in the past few years, and with more disposable cash now available, UK consumers are more likely to be converted to a one-off, large purchase of home exercise equipment, which is arguably a more cost-effective fitness investment that the on-going price of a gym membership. As well as the positive effects of easing
pressure on living standards, the market has benefited from an increased awareness of fitness as an essential component of a healthy lifestyle. This has occurred in a variety of ways: a growth in GP and specialist referrals; an increasing focus in the media on sport, fitness and the rise in obesity levels, and campaigns focused around getting young people active. “In addition,” AMA reported, “product development and the increasing integration of technology with fitness products are stimulating market growth. The outlook for fitness equipment in the medium term is positive. [It is a] mature market, so growth rates will be limited; however, there is strong underlying demand for health and fitness facilities and fitness equipment.”
on fitness A focus
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