We talk an awful lot about combining sport nutrition vending with leisure centre and gym operations. And why not? Both kinds of facilities are perfect for vending machines that offer nutritional alternatives to soft drinks and chocolates. In this week's post though, we have some hard numbers to share. We have data that shows just how attractive sport nutrition vending is for organisations focusing on a millennial audience.
Elite Daily's Annakeara Stinson reported on January 25th about a recent study released by a British sports and nutrition company, a study that looked at what millennials in the UK spend their money on. It turns out that millennials are less concerned about paying for university or putting money into a retirement plan than they are spending their hard-earned money on health and fitness.
According to the study, the average millennial spends about £155 per month on health and fitness-related products and services. Doing the maths shows that lifetime expenditures on health and fitness will reach roughly £112,000 for the average millennial. Compare that to the cost of an average four-year course at a university – just about £98,440 – and you can see just how much money we are talking about.
Specific Health and Fitness Expenditures
By now you might be wondering exactly what, in the health and fitness arena, millennials are paying so dearly for. Fair enough. Let's start with gym memberships. The survey shows that about 36% of UK millennials pay for gym memberships. That is more than twice the number of older people. Millennials are also spending quite a bit on:
- nutritional supplements
- professional nutrition plans
- workout clothes and accessories.
It's important to note that the survey shows that millennials are not necessarily interested in long-term gym memberships. They want access to on-demand choices that allow them to pursue their health and fitness goals according to their own schedules. This is key to understanding why sport nutrition venting is perfect for the millennial audience.
Vending is, by nature, an on-demand sort of thing. It is all about impulse buying. Millennials are more likely to purchase sports nutrition snacks out of vending machines if it means not having to worry about bringing those snacks with them to the gym or leisure centre. They do not want to have to think about snacking beforehand. So if there are a couple of machines just outside the changing room, millennials will buy from them.
Time to Take the Plunge
If your gym or leisure centre is not yet offering sport nutrition vending targeted at a millennial audience, we encourage you to give it some thought. Now is the time to take the plunge. We know millennials spend a lot of money on health and fitness; it is simply a matter of giving them every opportunity to do so.
We invite you to consider sport nutrition vending even if you don't operate a gym or leisure centre. Anywhere people gather is a good place for vending opportunities.
Sources:
Elite Daily – https://www.elitedaily.com/p/what-do-millennials-spend-money-on-a-study-says-they-spend-more-on-fitness-than-college-8002557
