The rise of connected fitness
Working out from home has become the norm during the pandemic, with gyms being forced to shut and trainers going online, people have turned to digital fitness to get their fitness fix. Since reopening their doors, gyms have experienced mixed reactions, some have seen gym-goers return while others have had to permanently keep their doors shut due to the lack of class goers, but the world of digital fitness has continued to explode.
Major moves from some of the major players
Apple launched its fitness subscription service this week with the launch of Fitness+. The service offers users workouts across a range of disciplines, with it centring around the brand's smartwatch
Zwift, the indoor cycling app, became a billion-dollar business with its latest round of investment, showing its impressive growth in 2020 as a result of an increase in users, smart partnerships and big events
Tonal, the 'world's most intelligent home gym' that offer users a flat-screen TV, a workout bench and resistance bands, for around US$3,000, raised $110m this week, adding some big names such as Steph Curry and Michelle Wie to its already impressive list of investors
Peloton, as we reported last week, announced it has seen a surge in subscribers and has added two more products to its offering, hoping to bring in more users, with CEO Jon Foley stating 'we are just getting started'
Lululemon is starting to integrate Mirror, the 'nearly invisible home gym' which it purchased in June for $500m, into the Lululemon family with big plans being expected for the start of 2021
Also not forgetting that the likes of FITT, ClassPass and others have launched or improved their own digital offerings
No signs of slowing down and more opps ahead
With new lockdown restrictions being introduced and no indication of a mass return to the office anytime soon, the rise of digital fitness shows no signs of slowing down. The increase in offerings only bears well for the consumer, as competition will drive prices to become more affordable, in turn making it more accessible for more people to get involved.
With the continued rise in working out from home, there is also a huge opportunity for other brands to get involved in the space, in helping to make it a better experience at home - from designing the perfect home gym to tech that creates a more immersive experience. Nevermind a space for the home office, house buyers will now be on the lookout for a space for their home gyms.