The findings shouldn’t come as a surprise as gyms have struggled to keep patrons, with 59% of Americans saying they would not renew their gym memberships even after the pandemic is over, per TD Ameritrade. Since May, multiple gym chains — and countless boutique studios — have filed for bankruptcy, including Gold’s Gym, 24 Hour Fitness and Town Sports International.
As gyms stay mostly empty, connected fitness and at-home equipment is growing quickly — punctuated by Apple announcing its own upcoming digital fitness service. Earlier this month, Peloton reported a 172% year-over-year quarterly revenue growth, while companies like Zwift and Tonal have received $450 million and $110 million, respectively, in new investment rounds.
Personal Struggles:
58% of personal trainers have lost some or all of their income.
23% of trainers were laid off or furloughed.
6% have yet to find new jobs.
97% plan to continue training clients after restrictions end.
