Table of Contents
Executive Summary
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- Overview of the fitness market and consumers
- “Everyone does excise” is a national strategic goal
- The ups and downs of the fitness industry
- Brief profile pictures of selected fitness consumer segments
- COVID-19 is fuelling market evolution
- ‘Fitness’ a higher priority
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- Figure 1: Top 3 leisure spending priorities after COVID-19, JULY 2020
- The in-home exercise sector is booming
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- Figure 2: Frequency of doing fitness activities pre and post COVID-19, June 2020
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- Figure 3: Fitness activities participation pre and post COVID-19, June 2020
- Out-of-home operators will slowly come back to growth
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- Figure 4: Leisure time allocation on sports and exercise after COVID-19, May 2020
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- Figure 5: Short-, medium- and long-term impact of COVID-19 on the fitness market and consumers, Sept 2020
- The opportunities
- Boosting fitness participation with emotional stimuli
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- Figure 6: Motivations for participating in sports and fitness activities, June 2020
- Decoding consumer demand for a “holistic fitness solution”
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- Figure 7: Methods taken to achieve fitness goal, June 2020
- Sports nutrition products cater to different consumer needs
- The threats
- Home workout space and atmosphere are major barriers to working out at home
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- Figure 8: Barriers for working out at home, June 2020
- Trading down is an issue for premium sportswear brands
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- Figure 9: Sports apparel/footwear brand awareness and penetration, June 2020
- What we think
Issues and Insights
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- Boost fitness participation with emotional stimulus
- The facts
- The implications
- Fitness plus music for de-stress
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- Figure 10: Examples of Sports fashion brands connecting fitness with music, China, 2020
- Develop a fitness routine for lifting confidence
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- Figure 11: Examples from Alibaba’s 1-minute challenge activities, China, 2019-2020
- Decoding consumer demand for a “holistic fitness solution”
- The facts
- The implications
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- Figure 12: Example of fitness clubs offering food and health services, China & UK, 2020
- Figure 13: Example of fitness clubs featuring physical rehabilitation and recovery classes, US, 2020
- Fitness to be integrated with technology and human expertise
- The facts
- The implications
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- Figure 14: Smart fitness services combined with human expertise offered by KuaiKuai Fitness and Café, China, 2020
Market Overview
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- “Everyone does excise” is a national development goal
- Consumers make “fitness” a higher life priority after COVID-19
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- Figure 15: Change of life priorities since COVID-19: exercising to enhance health and fitness, JULY 2020
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- Figure 16: Top 3 leisure spending priorities after COVID-19, JULY 2020
- Memberships increasing more quickly than number of gyms
- Gyms and health clubs embracing new business models
- The rise and falls of fitness clubs over the past two decades
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- Figure 17: Flexible class packages offered by LeFit via WeChat public account, China, 2020
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- Figure 18: Super Monkey’s “Super Banana Program” designed for fitness instructors, China, 2018
- Specialised boutique fitness clubs gaining momentum
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- Figure 19: Example of specialised sports/fitness clubs, China, 2020
- The emergence of “sharing economy” in the fitness industry
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- Figure 20: Example of “sharing fitness space”, China, 2020
- Future outlook considering the impact of COVID-19
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- Figure 21: Leisure time allocation on sports and exercise after COVID-19, May 2020
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- Figure 22: Short-, medium- and long-term impact of COVID-19 on the fitness market and consumers, Sept 2020
The Consumer – What You Need to Know
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- Physical health and de-stress are top motivators
- Holistic fitness solutions are in demand
- COVID-19 had minimal impact on sports/fitness participation
- Limited space and lack of atmosphere are barriers to in-home exercise
- Premium fitness apparel brands find it hard to retain consumers
Impact of COVID-19 on Sports Participation
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- Short-term impact: a small drop of workout frequency
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- Figure 23: Frequency of doing fitness activities pre and post COVID-19, June 2020
- “E-fitness” consumers increased significantly after COVID-19
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- Figure 24: Fitness activities participation pre and post COVID-19, June 2020
- Live-streaming may trigger interest in interactive training experiences
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- Figure 25: Fitness activities participation pre COVID-19, by new “e-fitness” consumers segments, June 2020
Profile of different types of fitness consumers
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- Introduction to the selected consumer segments
- Those who enjoy in-home exercising: “e-fitness” consumers
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- Figure 26: Penetration of E-fitness consumers, June 2020
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- Figure 27: Usage of fitness tracking products, by consumer segments, June 2020
- Those who enjoy interactive gym services: Group class lovers and PT Users
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- Figure 28: Penetration of Gym consumers, June 2020
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- Figure 29: Motivations of participating in sports and fitness activities, by consumer segments, June 2020
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- Figure 30: Usage of selected sports nutrition and health care services, by consumer segments, June 2020
- Those who exercise outdoors: Outdoor Runners and Hikers
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- Figure 31: Penetration of outdoor exercisers, June 2020
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- Figure 32: Overlap between outdoor exercisers and gym consumers, by consumer segments, June 2020
Motivations for sports and fitness participation
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- Improving physical health and relieving stress are top motivators
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- Figure 33: Motivations for participating in sports and fitness activities, June 2020
- Young people are result-driven while elders look for emotional stimulus
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- Figure 34: Selected motivations for participating in sports and fitness activities, by age, June 2020
Methods Taken to Achieve Fitness Goals
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- Exercise data tracking apps take the lead
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- Figure 35: Methods taken to achieve fitness goal, June 2020
- Sports nutrition products cater to different consumer needs
- Healthy salad meals and meal replacements for “weight-loss and muscle gain”
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- Figure 36: Selected methods taken to achieve fitness goal, by motivations: to lose weight; to build muscles, June 2020
- Sports drinks and whey protein powder for “improving workout performance”
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- Figure 37: Selected methods taken to achieve fitness goal, by motivations: To challenge myself, June 2020
- All need to have a “trendy” look
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- Figure 38: Selected methods taken to achieve fitness goal, by motivations: To be trendy, June 2020
- Wearable devices and physiotherapy services may tap into the “social fitness” trend
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- Figure 39: Selected methods taken to achieve fitness goal, by motivations: To enjoy time with my friends/family members, June 2020
Sports Apparel/Footwear Brand Awareness and Penetration
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- A glance at the leading, chasing and boutique players
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- Figure 40: Sports apparel/footwear brand awareness and penetration, June 2020
- Most brands face the issue of lapsing users
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- Figure 41: Sports apparel/footwear brand awareness and lapsing ratio, June 2020
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- Figure 42: Sports apparel/footwear brand purchased in the past year, by lapsed users from selected brands, June 2020
- Trading down is an issue for premium brands
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- Figure 43: Sports apparel/footwear brand purchased in the past year, by lapsed users from selected brands, June 2020
Barriers to Working out at Home
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- Home workout space and atmosphere are major barriers
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- Figure 44: Barriers for working out at home, June 2020
- High earners look for professional support while working out at home
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- Figure 45: Selected barriers for working out at home, by personal income level, June 2020
Meet the Mintropolitans
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- Early adopter of gym services and e-fitness
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- Figure 46: Fitness activities participation*, June 2020
- Technology plays a bigger role
- Demand for physical rehabilitation services increases
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- Figure 47: Methods taken to achieve fitness goal, June 2020
- Social wellbeing will rise in importance
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- Figure 48: Motivations for participating in sports and fitness activities, by consumer segmentation, June 2020
Appendix – Methodology and Abbreviations
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- Methodology
- Abbreviations
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