HCM Issue 4 2021

Page 61

The fi tness industry in China is growing rapidly, and the long-term outlook is positive

PHOTO: JR-50/SHUTTERSTOCK

KEY TAKEAWAYS The report includes a section detailing COVID-19’s impact on the Chinese fitness industry and lessons learned from the pandemic. Key takeaways include:

Overall, the report shows an industry that is rapidly growing and, despite the pandemic, a positive long-term outlook. “China’s fitness market is becoming more and more attractive to investors both at home and abroad,” said Alan MacCharles, Deloitte China commercial strategy and research partner. “In order to deep dive into the Chinese fitness industry and understand the market dynamics and future trends, we are honoured to be commissioned to conduct research and analysis on the Chinese fitness industry and to author this report.”

Kirsten Walsh is associate publisher at IHRSA Download the report: www.ihrsa.org/publications Key contact: Adrian Xu, Deloitte China email: adxu@deloitte.com.cn

With the domestic pandemic being brought under control, over 90 per cent of gyms and fitness studios have been gradually reopened.

Traffic remains at 70-80 per cent of pre-pandemic levels.

The full recovery of the industry remains uncertain, depending on the control of further outbreaks.

From a long-term perspective, the pandemic has increased people’s awareness of health and fitness on a national scale.

The fitness industry, as a core sector of the health industry, will continue to grow and diversify – the long-term outlook is positive.

The pandemic has accelerated the digitisation of the fitness industry and as gym operators roll out online content and services to maintain and expand customer relationships, consumers are becoming more familiar with home fitness and online fitness.

In recent years, the industry standardisation level has continuously improved as the market adjusts itself. The Matthew effect has gradually emerged, and the decentralised market is transforming to a relatively concentrated market. COVID-19 has accelerated industry reshuffling.

After the epidemic, fitness brands will focus on improving in these five areas: business model, store expansion, product and service offerings, maintaining members, and online operation.

©Cybertrek 2021 Issue 4 2021

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