Every day we are bombarded with ads targeting how we look and how we look better. The fitness industry hits our wallets frequently with advertisements for weight loss, gym, equipment, diet, nutritional supplements, apparel and technology related items. It is a billion dollar industry. One of the main reasons why people join a fitness center is to strengthen muscles, lose weight, build muscle, and improve health and well-being.
Fitness centers are not the only resources a consumer looks for for health and well-being; Companies promote luxury and diversified consumer-oriented products. Did you know that commercials for rapid weight loss account for at least 57% of media advertisements? In some cases, weight loss ads claim that you can lose eight to ten pounds per week with their products.
The diet industry makes about sixty billion dollars a year, and the sad part is the average failure rate of about 90% for participants. The reason is the lack of long-term sustainability. Minerals, botanicals, vitamins and supplements is another huge industry with an average spending of thirty-five billion. Millennials spend big money each year on vitamins and supplements, including protein shakes and vitamins, averaging $56 to $80 a month.
It’s not uncommon to see ads targeting the miraculous results of taking vitamins and supplements. As of 2022, there were more than 100,000 fitness and health clubs in the United States before the pandemic, and more than 62 million people visited health clubs with an average attendance of 108 days per year. 24 Hour Fitness is the largest private chain in the United States, with more than 400 clubs. The most expensive gym in the United States is EXOS, its cost is thirty thousand dollars a year, and it is located in Phoenix, Arizona.
The average cost for a gym membership is $58, and $78 for high-end gyms, but can vary depending on the size of the city. Budget-friendly gyms include Planet Fitness, Golds Gym, and LA Fitness.
Before joining a gym, one of the most important considerations is location, followed by equipment, value, cleanliness, facilities, group fitness classes, and atmosphere. The online virtual fitness industry has become a rising star due to the pandemic. The availability of apps and smart devices for home workouts and mobility has led to a sudden rise in the market to an expected $79 billion by 2026.
$14.5 billion was spent on exercise equipment in 2020, as gym and exercise equipment become popular items in the home providing cardio and resistance training. Today’s home gym features more than dumbbells and a pull-up bar with the convenience of working out safely at home.
Popular items like Nordic Trac, Peloton Bike, vertical climbers, smart home gyms and Mirror Pro have found their way into homes. Technology also reigns supreme with home exercise equipment, apps, smartwatches, and trackers to monitor our workout progress.
Finally, the apparel industry, which includes footwear and apparel, generated sales of 167 billion in 2018 and is expected to reach a global market of 248 billion by 2026. The amount of revenue generated by the fitness industry is staggering, and now I can see why so many are targeted. of advertisements for this market. As a final note, North Carolina ranks 30th in the United States, with 76.9% of the population exercising.
The first state is Colorado with 83.8%. The United States, Germany, and the United Kingdom have the largest number of fitness club members.
