Marven Yacoub’s Observations on the Fitness Industry Story throughout the COVID Pandemic

One year ago, there were noteworthy shifts in the fitness sector during the pandemic; the causes, movements to alternate solution workout regimens, and the use of technology. It is vital to keep the industry’s future unpredictability in mind. According to Marven Yacoub, there have been other lockdowns, various vaccines, a Joe Wicks obsession in the UK, and the collapse and rebirth of Peloton since then.

At-home-fitness culture

The pandemic compounded and hastened developments in the fitness business unprecedentedly; the gym, like the office, has been relocated to the house. According to Marven Yacoub, the at-home-fitness culture evolved when gym-goers were left with no other options. In such a time of physical and emotional gridlock, the general public sought ways to remain productive while caring for their bodily and mental wellbeing.

Joe Wicks and others showed how to exercise at home with the help of new technology like Zoom, Strava, and online classes by significant players like Equinox. Fitness has followed in the footsteps of entertainment in subscription-based and on-demand platforms.

Marven Yacoub suggests trying some of the unique classes and treatments on the market, such as an “urban sweat lodge,” a prison-style workout taught by former prisoners, and full-body cryotherapy. He’s not convinced that sweating or freezing my path to a sound body is good.

Nonetheless, it became clear early on that they had to offer their clients a sense of community. He places a high value on self-improvement and accomplishing personal fitness objectives by over-exercising to achieve a specific body type.

Creating a sense of community is becoming an increasingly important selling factor for fitness studios and gyms. As a result, Marven Yacoub believes that customers are associating their exercise venues of choice with their identities more than ever. Consider the outpouring of rage directed towards SoulCycle and Equinox after customers discovered owner Stephen Ross’ ties to President Donald Trump.

The consumer isn’t just buying a product. They want to be sure that its values are compatible with their own. Marven Yacoub believes this is not a terrible thing; instead, he thinks it is beautiful since it holds business owners and entrepreneurs more accountable to profit alone.

According to Marven Yacoub, numerous businesses benefit from collaborations with food and beverage firms, such as Crunch Fitness, which works with Smoothie King members. Simultaneously, gym businesses like Planet Fitness and Life Time Fitness are cashing in on the ongoing retail apocalypse by renting out empty storefronts in strip malls. In addition, new facilities are being opened to accommodate an expanding number of memberships.

Consumer Behavior Trends

As people move toward healthier lives, the fitness industry is reaping roughly $100 billion in profits worldwide.

According to Marven Yacoub, there are more options than ever before for staying active and getting your pulse pumping than merely hitting the elliptical. On the other hand, companies such as Peloton have proved market dominance with recent IPO programs such as ClassPass. It has inspired customers and studio owners to try out different boutique fitness models, resulting in a sprinkling of one-of-a-kind classes.

According to the International Health, Racquet, and Sportsclub Association, Boutique fitness is the fastest growing brick-and-mortar workout category, with membership at boutique studios expanding by 121 percent between 2013 and 2017. According to the IHRSA, a boutique fitness studio is a home to 40% of health and fitness club members.

The most crucial point to remember:

According to Marven Yacoub, consumers connect with health and lifestyle companies more than ever to develop communities and adopt health-oriented lives.

Globally, the fitness business is currently worth approximately $100 billion. According to the International Health, Racquet, and Sportsclub Association, Boutique fitness is the fastest growing brick-and-mortar workout category, with membership at boutique studios expanding by 121 percent between 2013 and 2017.

Marven Yacoub has spent considerable time evaluating some of the unique training trends and conversing with fitness experts about the industry’s future.

For more information about Marven Yacoub visit: https://www.issuewire.com/marven-yacoub-how-fitness-industry-will-evolve-in-2022-1724760822273042