Boutique fitness center is a small gym, which focuses on exercise in groups and is specific in one or two fitness areas. Boutique fitness is preferred by the millennials due to availability of experienced trainer, small batch size, and the environment of similar minded people. Meeting similar minded people with same goal,performing similar activities, and same routine enhances socialization, and creates an energetic atmosphere. These small gyms have small areas of (800- 3200 sq. ft) with promising atmosphere, energetic and experienced trainers, and motivating music, which makes people push their limits in exercise.
COVID-19 Scenario Analysis:
With the closure of all the social space, the gyms and fitness equipment manufacturers have seen a decline in the revenue. Almost all the subscription of gyms and fitness centres have been on hold and the cash inflow is still.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers,and Impact Analysis
Surge in the subscription of boutique gyms is seen as the millennial of today are more attracted toward the aura, community, and atmosphere rather than the price paid. Along with the experienced trainers people find a positive atmosphere in the boutique fitness center.These factors drive the growth of the global boutique fitness market.
However because of small size these boutique gyms are expanding but once the market gets saturated boutique gyms will face cut-throat competitions and the subscription prices will fall. Contrarily, awareness among millennials about health, body shape,and the rise in standard of living offersgrowth potential for the market.
The global boutique fitness market trends are as follows:
New product launches to flourish the market
With digitalization new services have been launched by the key market players. They have taken necessary initiative to make the services through use of the internet. Barry’s launched a new service Live Stream at Home Class where they provide 5 different packages for different people.
These services are designed for first timers $20 for 2 class, and other 4 are daily, weekly, monthly, and private group training consisting of 5 member team who reach the clients house and provide training. Moreover, these boutique fitness centers offer discountswhen the services are subscribed for the first time and for the ones who opt for long duration.
Surge in hotelsindustry and corporate offices
The boutique fitness center owners are trying to enter new market as there will be varying demand once the number of boutiques operating increases. So, the market leaders have determined new industry where they can stretch the subscriptions. Exhale Spa has its 11 out of 27boutique fitness gyms inside hospitality chains, which make it easier for them to attract both segment customer. The local customers can reach the boutique any time and being inside a hotel enhances the tourist to use the boutique and earn hefty revenue. Also, some hotels include the service in their bundled package and charge a premium from the customers.
In addition, the boutiques provide classes at $20-$36 per day, which the tourist and first time visitors never regret to spend as it helps them to associate with a new community and different atmosphere. Corporate offices nowadays are looking toward employee welfare and are providing every type of fun activities, eatables, and other facilities that an employee needs, which makes it easy for the boutiques to join big corporate houses.
Key Benefits of the Report:
This study presents the analytical depiction of the global boutique fitness industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global boutique fitness market share.
The current market is quantitatively analyzed fto highlight the global boutique fitness market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global boutique fitness market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Boutique Fitness Market Research Report:
What are the leading market players active in the boutique fitness market?
What the current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What future projections would help in taking further strategic steps?
Boutique Fitness Market Report Highlights
By Industry Vertical
Key Market Players
Studio SWEAT, Orangetheory Fitness, SoulCycle, Fitness Within, CONBODY, F45, Peloton, Fitwall, Exhale Spa, CycleCast, Cyclebar,Flywheel Sports, Life Time Fitness