Page 68

JOHN CANARICK

SO, THE COMPETITION IS NOW HERE…

AND WHO’S TO SAY IT ALWAYS HAS TO BE

AT A PREMIUM PRICE POINT?

WHY SHOULDN’T SOMEONE ALSO COME IN WITH

A CHEAPER AT-HOME OPTION?

Canarick says the battle is on for the number two slot in the home fitness market, after Peloton

Specifically, I’m talking about group exercise, which I believe is a better way to work out for many of us. Meanwhile, in the boutique segment, there’s a lot of content out there with the growth of competition – specifically with the proliferation of boutique franchises. At some point, we’ll see some closures of boutiques in urban markets where property rates are very expensive. Then there’s Peloton, which has completely re-shaped what it means to do fitness at home. Connecting hardware to content is just in its early stages in this market and Technogym has already announced it’s getting into this game. I imagine SoulCycle will eventually do something too. That premium market is going to get competitive, and over the next five years there’ll be a battle for number two: Peloton is so far ahead, I can’t imagine anyone being a threat to its business, but it won’t be as easy any more. 68

healthclubmanagement.co.uk May 2019 ©Cybertrek 2019

So, the competition is now here… and who’s to say it always has to be at a premium price point? Why shouldn’t someone also come in with a cheaper at-home option? All that said, I believe we humans still desire ‘live’ experiences – whether it’s because we work out with friends or because we need motivation and accountability. The club market is, therefore, okay – Peloton just ups the ante, especially for the premium-end facilities. They have to do a better job at making customers want to come in now. They have to deliver a better experience: if it’s the same thing people can get at home, they’re probably not going to bother going to a club. For now, though, I think Peloton is just increasing the average number of times people work out a week. When they can’t get to the gym, they do a 30-minute class from home, and that’s just awesome for health and wellness. ●

Profile for Leisure Media

Health Club Management May 2019  

Health Club Management is the magazine and online community for decision-makers in the global health club, fitness and gym industry.

Health Club Management May 2019  

Health Club Management is the magazine and online community for decision-makers in the global health club, fitness and gym industry.