| A poll by Forbes found 39% of consumers set improved fitness as one of their New Year's resolutions for 2023. Less than half of those folks will stick with it for the full year, though. Fitness trends are highly seasonal: There's the New Year's resolution bump that happens in the winter months, then a notable drop-off in the spring, summer, and fall months... like clockwork. That seasonality is clear as day in LikeFolio trend data: 
At least... That's how it was until COVID changed everything. Starting in 2020, going to the gym fell out of favor as folks isolated at home – again, clear as day in the chart above. Rather than heading to the gym, folks started working out at home. Look at that spike in working out at home chatter we picked up between March and June 2020: 
Peloton (PTON) had a field day. Its expensive at-home exercise bikes, complete with interactive workout streams to keep you connected while isolated, were highly desirable – and suddenly worth the price. Investors piled in and sent PTON shares to new heights – surpassing the hundred-dollar mark by the end of 2020, then surging to a fresh peak nearing 200 in January 2021. But the federal COVID-19 Public Health Emergency declaration officially ended on May 11. We've entered a fresh post-pandemic era. Consumer preferences have shifted – in some cases, drastically. Health and wellness trends are in. Travel is back. Social activities are filling up our calendars. Perhaps most exciting of all: Memorial Day's fast approach means it's pool season. And those exercise habits that many consumers jump-started at the start of the New Year? Time to see how those are holding up... In this post-pandemic era, LikeFolio data reveals three critical shifts in exercise trends that tell us fitness stocks are in for a shakeup... 1. Consumers Are Over Working Out at Home You saw above how working out at home mentions spiked drastically during COVID. It's safe to say... consumers are officially "over" their home gyms. Mentions of working out at home have dropped off 8% year-over-year and 10% quarter-over-quarter. 
2. Guided Fitness Classes Are Growing in Popularity Instead of hitting the Peloton, folks are increasingly headed to the gym – more specifically, for guided fitness classes where they can work out in groups to quell that social urge and get professional-level guidance at the same time. LikeFolio trend data is currently recording an 8% uptick in mentions around guided fitness classes year-over-year. 
3. Consumers Are Refocusing on Weight Training Along with interest in guided fitness classes, consumers seem to be refocusing on weight training – mentions are trending 10% higher year-over-year as of this writing: 
At-home fitness players like Peloton are in for more trouble – while boutique fitness class providers like this one are seizing the opportunity... Click here to continue reading | 
No comments:
Post a Comment