Fitness is taking fashion’s space in the high streets – but that is not the only sign of fashion increasing its footprint. This tells not just about e-commerce taking over, but also about consumer’s shifting spend.
This is good news for fitness and wellness – gyms and fitness studios from lower to high-end, personal trainers, healthier fast-food shops and many more.
People are ready to spend their money here and now, to experiences, in large masses, that would have been unheard ten years ago. Many of the services, that were previously preserved only for the well-off ones, are now within everyone’s reach – and high in demand.
How to blossom in the industry
- If you are already in fitness – keep going. Be aware of your competition, but be bold on doing your own thing. The segment is growing, and will still grow substantially – there is loads of space for different players in the field. Hot yoga, outdoor personal training, boot camps… There is simply space for everyone.
- Not in fitness? Well, think if you can get into it, or experiences
- Clothing + get the street style vibes. Get sporty influence. Can your garnment be worn post-workout? Can you create a sport clothing line? Tory Burch just did. NET-A-PORTER launched NET-A-SPORTER a good while back
- Sell more than the product. Think how the customer feels when they get it, and what they would like to feel. Have you built an experience around the product?
- Personalize. Can you provide customer’s initials in the product? Can you let them customize the product themselves?
- Tell your brand story. Tell about sustainability, craftmanship and heritage. Be honest.
If you stay on the stagnating business, you are fighting about shrinking wallet share with other players. If you expand your horizons and success in thinking and executing outside the box, you might even find a spare wallet.
Capitalize on growth.