Gyms have continued to be among the biggest losers from the pandemic from a business standpoint. Closures across the globe in March led to a bump in fitness app installations and May showed a major increase in virtual workout sessions.
While the surge makes sense even for temporary use, what’s more telling is the significant increase in at-home fitness equipment sales. That jump has led to a shortage of workout equipment. Bowflex said they are sold out through the remainder of the year.
All that comes as 59% of respondents to a TD Ameritrade survey said they wouldn’t renew their gym memberships. Gyms have been slowly opening back up across the U.S., but just 17% of U.S. consumers say they feel safe going to the gym.
Home Fitness Stats:
— Health and fitness app installations in March grew 67% compared to 2019.
— User sessions in May increased 61%.
— Daily sessions were up 16% in July.
— Online orders for fitness equipment increased 220% in May and 122% in June compared to 2019.