It’s always easy to be an armchair quarterback, throwing out assumptions and big ideas on what will happen in the future. But this time I think I’m on to something. The health and fitness markets have been hit hard during COVID, for obvious reasons….it’s been difficult to get customers to do anything indoors, especially get sweaty together.
According to Club Industry News, the Pandemic took out 22% of all of the gyms in the U.S. and over 1.5 million people lost jobs in the fitness industry. Major bummer stats and in dollars, that equated to almost $30 billion in lost revenue due to COVID. So part of this story is the comeback element, there kind of is nowhere to go but up from here, but there is also a bigger picture growth curve that has been on an upwards trajectory for the last fifty years, COVID was just a short term setback for the fitness space.