Virtual Fitness – The Start of a New Trend
Technology is changing the way many companies and their consumers do business. Quick, convenient digital experiences are disrupting what used to be acceptable service standards. People are swapping taxis for Uber, CDs for Spotify and it is no longer necessary to leave your home to set up a first date with a stranger.
This digital revolution has changed the way we behave and with that expectations have shifted in regards to manners and the desire for instant gratification. At what point in time did it become acceptable to use your smart phone at the dinner table, in a meeting or while having coffee with a friend?
As these changes pervade the Fitness industry, how is your attitude to change determining the future of your business or department?
12,000 clubs globally have some form of virtual fitness solution, this number is expected to double by 2017*. That represents 6% of the 187,000** fitness facilities globally and shall be close to 13% in 2017. Europe and the US are leading the curve in this regard and Australia is also ahead with what we estimate is already 300 clubs with a Virtual solution.
The diffusion of Innovation Model made popular by Everett Rogers in his 1962 book “Diffusion of Innovation” (Now in its’ 5th edition) is the process by which an innovation is communicated over time among the participants in a social system
I would suggest that the change technology evokes regarding the way the market consumes, behaves and resets is far more rapid at this point in time than previously.
Should you bring new technologies into your business to gain market leader advantage? I believe that most club professionals are looking to iterate their offering with the latest and best tested solutions. Sometimes being in the innovator (first 2.5%) space can be used to create a unique market position, however it can lead to complications as early iterations of products may not be rigorously tested or quite ready.
At the present Virtual fitness has transitioned out of the Beta stage and shall shortly transition from the early adopter phase to early majority. Certainly the time to investigate Virtual Fitness its’ benefits, pitfalls and research is now.
Les Mills Asia Pacific is running Virtual Fitness seminars in major cities. The insights covered shall investigate the present market state, the opportunity and refer to three research studies. The sessions shall be informative and educational, why not take your lead team along and see how this trend shall affect your members in the future.
Find all upcoming seminar dates here
Matt Spandow, Business Partnership Director
*Wexer Study 2015
** IHRSA report 2016