Industry Analysis & Industry Trends
Gym membership has grown rapidly in the past five years as consumers have become increasingly health conscious, bolstering revenue for the Gym, Health and Fitness Clubs industry. However, the emergence of budget-conscious gym members has transformed the industry's landscape, and the provision of low-cost, contract-free memberships has hampered profitability among gyms unable to maintain high customer retention rates. Over the next five years, demographic changes are expected to expand the industry's potential market, and increased consumer spending will boost sales of higher-value services. As a result, industry revenue growth is projected to accelerate through 2020... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Gym, Health and Fitness Clubs industry is in the growth life cycle stage, because consumers continue to be interested in exercise to boost their fitness and health. During the 10 years to 2020, industry value added (IVA), a measure of an industry's contribution to the overall economy, is expected to grow at an annualized rate of 3.0%. Comparatively, GDP is anticipated to grow an annualized 2.5% over the same period.
Since many consumers were budget conscious, some purchased low-cost gym memberships with fewer amenities, hampering industry profitability and constraining industry revenue growth... purchase to read more