FITNESS INDUSTRY AMIDST COVID-19
Amidst the coronavirus global pandemic, fitness has gained a lot of importance as health scares are
gaining more prominence. Especially considering our present routines are limited since most of us
are striving to stay indoors. Moreover, health has taken a forefront in terms of concerns granted how
the virus seems to be tolling quite the effect on our general well-being. Since parks and gyms were
affected by the restrictions imposed by the lockdown, people, especially for the quintessential urban
city dweller who now has no outlet to shed the “quarantine weight” they’ve picked up.
These are uncertain times for gyms and the fitness industry as a whole. Research shows that fitness
is usually perceived as a social activity – since psychologically, people find it more encouraging and
easier to maintain a routine in exercise when partaking in it in a group surrounding. Individually, it
may be found to be more difficult to maintain the same level of commitment. Although the whole
point of remaining at homes is to make sure people are maintaining their health a lot of people not
only find exercise physically rewarding but many fitness activities like yoga are also essential for
mental fitness – since it helps with sleep and depression.
Market research at True Code shows that the fitness industry was hit hard economically by the
pandemic rendering it into a situation akin to that of an existential crisis and along with it so did all
the associated industries – like gym products or dietary supplements. Staff were either laid off or
temporarily kept out of commission. Although under Unlock 3.0 guidelines, gyms and yoga centres
were allowed to reopen, the centres had to undergo changes to evolve and adopt to the present
socially distanced culture. Extra expenses are being accrued due to compliance to new guidelines
issued. Sanitisers, spacing out of equipment, the limit on the number of admissions at a time in a
centre, the issue of staffing all pose issues to surpass.
But as with those resilient, for those involved in the fitness industry, the light has started seeping
through. They’ve implemented slot booking to also ensure regulated attendance. In terms of gym
products, demand for separators are on the rise, keeping suppliers of gym products happy.
Separators are key for creating separate zones amidst the equipment. Innovative products such as
the ‘isolator’ which is essentially an exercise pod made for one, are coming out keeping with the
times. Others have ventured into the virtual side of things, and have opted to make do with
conducting virtual workouts and training. Digital fitness services are also on the rise now and some
have innovatively started with hybrid options where it becomes a mix of online and offline sessions.
The team at True Code believes that its now crucial that businesses now move forward by
incorporating such aspects to keep up with how the tide has turned.
For now, it has become an apparent need that those in the fitness industry start delving into further
options in terms of business models. Researchers at True Code state that the traditional is no longer
as lucrative as it once was in todays world. It is imperative that now detailed market research be
carried out to determine a profitable model to adopt. Since it is not a ‘one size fits all’ deal,
individual businesses need to be studied holistically on its respective numbers. Here, at True Code,
we like to ensure that businesses are encouraged and provided with the right models and research
required for them to tap into their potential. Especially in times like these, where every choice must
be calculated, through market research, the most viable and pragmatic option can be selected with
confidence and ease
