Fitness has exploded into a nearly $100 billion global industry as more people become obsessed with their health
Irene Jiang / Business Insider
- Consumers are engaging with fitness and wellness companies more than ever before, in an attempt to foster community and adapt health-oriented lifestyles.
- Today the global fitness industry is valued at nearly $100 billion. The International Health, Racquet and Sportsclub Association found that boutique fitness is the fastest growing brick-and-mortar exercise category - between 2013 and 2017 membership at boutique studios grew by a whopping 121%.
- Business insider spent the last several weeks trialing some of the most out-of-the-box exercise trends and talking to fitness experts on the future of the industry.
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Fostering community has increasingly become a selling point for fitness studios and gyms. In turn, consumers are aligning their fitness venues of choice with their personal identities more than ever before. Case in point: The massive outcry against SoulCycle and Equinox after consumers learned of owner Stephen Ross' ties to President Donald Trump."At the end of the day, the consumer is not just buying the product. They want to make sure that a company's values align with their own values," Ryan Junk, president of Cycle Bar, told Business Insider's Bethany Biron. I don't think that's a bad thing, personally think it's a great thing because it actually holds business owners and entrepreneurs accountable to more than just profit."At the same time, gym brands like Planet Fitness and Lifetime Fitness are finding ways to capitalize on the ongoing retail apocalypse - by renting out empty store space in strip malls around the country and opening new locations to accommodate a growing number of memberships. Several of these companies are also profiting from partnerships with food and beverage companies, such as Crunch Fitness which partners with Smoothie King on deals for members.
"Our mission as a company is to inspire people to live a healthy and active lifestyle," Smoothie King's chief marketing officer, Rebecca Miller, told Business Insider's Kate Taylor.
With all of this in mind, Business Insider is sharing a series of stories on these topics and more this week.
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