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Adam Healy, the general manager of Waverley Oaks Athletic Club, shares how to best communicate and navigate membership price increases. The rate of U.S. inflation leaped to a 40-year high of 8.5% in March 2022 and caused a domino effect of price increases across the country. With supply prices rising, lower revenue coming in due to canceled and frozen memberships, and the hiring shortage, many gyms are feeling the pressure to increase their membership dues.
William Konstand, the president of TAG Digital Marketing, share the marketing efforts your big box fitness center should be focusing on. Top operators of gyms and fitness brands are unique, and all do business in different ways. One thing they do seem to agree on though — especially in the past six months — is the U.S. gym market is about to be overwhelmed as Americans flock back to fitness centers.
The pandemic has changed how we view our daily routines, and with people working from home, the fitness industry is evolving and the hybrid business model, a combination of in-person and online services, is here to stay. According to Allied Market Research, the global online and virtual fitness market is expected to reach $59.23 billion by 2027. That works out to be a compound annual growth rate of 33.1% from 2020 to 2027.
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