Throughout much of 2020, businesses have faced temporary trading restrictions due to the outbreak of coronavirus. While the COVID-19 pandemic has impacted every industry, the health and fitness sector has seen varying effects.
Gyms, leisure centres, spas and health resorts were subject to long-term enforced closures, which resulted in disrupted cash flows for many businesses. Despite this, the increased demand for at-home fitness services enabled these companies to diversify. As innovative gym owners quickly introduced online workouts and training sessions, many firms have been able to generate a secondrevenue stream in these trying times.
According to the 2019 State of the UK Fitness Industry Report, the health and fitness sector was booming prior to the outbreak of COVID-19. Worth more than £5 billion and seeing record numbers of gym members, there was an increased demand for health-related services and products. What’s more – this growth was projected to continue throughout 2020 and beyond.
Will the Fitness Industry Continue to Grow?
The true economic impact of COVID-19 remains to be seen, but early indicators suggest that the health and fitness sector will bounce back more quickly than many people expected. Sadly, smaller gyms and fitness firms may be unable to weather the storm and there are likely to be closures within the industry.
However, people’s approach to fitness during periods of nationwide lockdown has given the industry a new lease of life. Despite the unprecedented restrictionsplaced on citizens, many people turned to fitness and exercise as a way to cope with the effects of the pandemic. As well as using their permitted daily outing to walk, jog or run, a significant number of people committed to new at-home fitness regimes. In fact, sales of home fitness equipment soared while the nationwide lockdown was in place.
Of course, not everyone embraced exercise during this period. With limited opportunities to get outdoors, some people succumbed to the ‘quarantine fifteen’, and gained weight while their usual routines were interrupted. However, even this is proving to have a surprising effect on the industry. As lockdown restrictions are being eased, people are re-committing to their fitness and weightloss goals.
In short, the pandemic and subsequent lockdown has done little to dissipate interest in the industry. Conversely, people are keener than ever to take control of their health and minimise the risk of suffering complications if they do contract COVID-19. Whether people want to maintain the fitness level they’ve achieved during lockdown, shed the ‘quarantine fifteen’ or simply get healthier, the demand for fitness services, health products and sports nutrition appears to be at an all-time high.
How Can You Boost Your Company’s Profitability?
While demand for health and fitness products and services may have grown, there’s no doubt that most businesses will have experienced some form of financial loss due to coronavirus. Savvy business owners who diversified and introduced new, at-home services may have replaced some of their cash flow butit’s likely their income will have been negatively affected at some point or another.
However, there’s an easy way for businesses to capitalise on the increasing demand for health foods and sports nutrition. By installing a Nutrivend machine on site, you can meet the needs of a fitness-focused population. With a vast selection of leading brands, you can be sure that a well-stocked Nutrivend machine will offer a wide range of options for everyone. From beginners at the gym to fitness fanatics and athletes, the comprehensive product range within Nutrivend machines ensures you can meet varying demand.
Furthermore, a Nutrivend machine allows you to boost your revenue without substantially increasing your costs. With no need to pay extra staff or install costly equipment, Nutrivend machines allow you to access a second revenue stream quickly and easily.
What Does the Future of the Fitness Industry Look Like?
The changes made in response to the pandemic are unlikely to disappear as quickly as they arrived. While gyms, health facilities, spas and leisure centres arenow permitted to re-open, the demand for virtual fitness services is still there. With businesses able to increase their profitability by maintaining these additional services, it’s highly likely that online workouts and training will continue to be available for the foreseeable future.
Of course, the current local lockdowns and the possibility of a second wave of coronavirus means that businesses could face unexpected trading suspensions inthe future. However, business owners are more prepared for the possibility of closures this time around. In addition to this, many health and fitness companies have already established virtual platforms and online services which facilitate a seamless transition to at-home fitness services.
While there’s no doubt that the COVID-19 pandemic has affected the health and fitness industry, the innovation of business owners and manufacturers, combinedwith the increased demand from the public, has ensured that the sector remains primed for growth in the future.
