Some companies, like gyms and athletic-apparel manufacturers, are struggling. Others, like makers of at-home workout equipment and providers of online fitness services, are thriving. Here are six fitness categories that are taking over or falling apart thanks to pandemic.
For Peloton, the pandemic has been profitable. The at-home fitness company announced its first-ever quarterly profit, which was bolstered by a 172 per cent surge in sales and more than 1 million people subscribing to its streaming classes.
The company offers a mirror that turns into an interactive home gym. When turned off, it acts as a full-length basic mirror. The company offers a mirror that turns into an interactive home gym. When turned off, it acts as a full-length basic mirror.
Boutique outfits have been the fitness industry's biggest driver of growth for much of the past decade. The latest study by the International Health, Racquet & Sportsclub Association found that premium clubs made up the fastest-growing brick-and-mortar exercise category and pushed the industry to an almost $100 billion estimation this year.
The increase in buyers to gym equipment stores comes as gyms like Goodlife Fitness and Fit4Less announced on Monday that they will be closing down their Canadian stores in an attempt to help reduce the local spread of the COVID-19 pandemic.
With many gyms and studios closing up shop to adhere to social distancing measures during the COVID-19 pandemic, trainers and studios around the world are now taking to social media to livestream their workouts (meaning you can access them for up to 24 hours; some gyms are also saving the streams for later viewing)—for free.