2023 is looking good with all the positive growth that’s happened in the past 12 months within the fitness industry. In fact, research shows that the boutique fitness industry is expected to grow an incredible 450% by 2028 – and that means we can start putting the pandemic behind us to focus on moving forward, and adapting with the trends.
Let’s shed a light on what we can expect from the market in the coming year.
Clients Will Be Looking To Maintain Or Expand Their Spend
Despite cost-of-living expenses on the rise and consumers doing away with what they can live without, on top of their list is keeping a stronghold on their wellbeing outlays. This means they value their health and make it a priority, so around 80% (of more than 11,000 consumers across 16 countries) plan to maintain or even expand their health and fitness spending in the next 12 months (Accenture Report) – that’s despite 66% saying they were already feeling a financial pinch.
This is great news for the health and fitness space, with indications that despite economic instability globally, consumers believe their wellness is more important than ever (2022 Mindbody Wellness Index: Fitness Report) and are more likely to want to use body composition devices like the Evolt to keep an eye on progress throughout the year.
