Daily we are inundated with a barrage of advertisements that target how we look and ways to look better. The fitness industry reaches into our wallets frequently with ads for weight loss, gyms, equipment, dieting, supplements, clothing and tech-related items. It is a billion-dollar industry. One of the primary reasons people join a fitness center is to tone up, lose weight, build muscle and improve health and well-being.
Fitness centers are not the only resources the consumer seeks for health and well-being; companies promote well-being and diversified products directed toward the consumer. Did you know that rapid weight loss commercials are at least 57% of media advertisements? In some cases, weight-loss ads claim that you can lose eight to ten pounds per week with their products.
The diet industry takes in about sixty billion dollars per year, and the sad part is the failure rate averages about 90% for participants. The reason is that there is no long-term sustainability. Minerals, botanicals, vitamins and supplements are another huge industry with average spending of thirty-five billion. Millennials spend significant money each year on vitamins and supplements, including protein shakes and vitamins, averaging $56 to $80 per month.
It is not uncommon to see ads targeting the miraculous results of taking vitamins and supplements. As of 2022, there are over a hundred thousand fitness and health clubs in the U.S. Before the pandemic, more than sixty-two million people visited health clubs with an average attendance of 108 days per year. Twenty-four-hour fitness is the largest privately held chain in the U.S., with more than 400 clubs. The most expensive gym in the U.S. is EXOS, costing thirty thousand dollars per year, located in Phoenix, Arizona.
The average cost of a gym membership is $58, $78 for higher-end gyms, but it can vary depending on the size of a city. Budget-friendly gyms include Planet Fitness, Golds Gym and L.A. Fitness.
Before joining a gym, one of the top considerations is location, followed by equipment, value, cleanliness, amenities, group fitness classes and atmosphere. The online virtual fitness industry is a rising star due to the pandemic. The availability of apps and smart devices for home workouts and mobility are skyrocketing the market to an expected 79 billion dollars by 2026.
A mounting 14.5 billion dollars was spent on exercise equipment in 2020, with aerobic and exercise equipment being popular items for the home offering cardio and resistance training. Today’s home gym comprises more than dumbbells and a pull-up bar with the convenience of working out safely at home.
Popular items such as the Nordic Trac, Peloton Bike, vertical climbers, smart home gyms and Mirror Pro have found their way into homes. Technology also prevails with home exercise equipment, apps, smartwatches and tracking devices to monitor our exercise progress.
Finally, the apparel industry, which includes shoes and clothing, generated 167 billion in sales in 2018 and is expected to reach a global market of 248 billion by 2026. The amount of revenue that the fitness industry takes in is mind-boggling, and now I can see why so much advertising targets this market. As a final footnote, North Carolina ranks 30 in the U.S., with 76.9% of residents who exercise.
The number one state is Colorado, with 83.8%. The U.S., Germany and the United Kingdom have the highest number of fitness club memberships.