AusLeisure

Exciting opportunities lie ahead for the fitness and wellness industry to grow, presenting new ways for brands to innovate and grow.

As reported by the newly released second annual Mindbody + Classpass 2024 Predictions Report, consumers now consider health, fitness and wellness to be an essential area for spending and that expenditure on these services and outcomes will continue to grow despite the global squeeze on disposable incomes.

The report charts consumer sentiment and outlines views from industry leaders regarding the wellness trends to expect in 2024, predicting six key trends for the year ahead are:

1. Strength training will retain its popularity
2. Beauty and wellness community events will become increasingly popular
3. Consumers will expect science-based, performance-proven products and services
4. The importance of sleep hygiene will continue to grow
5. Consumers will combine temperature therapies
6. Older adults and boomers will head to fitness facilities in greater numbers

The Mindbody + Classpass 2024 Predictions Report also compiles findings from a number of industry reports published over the past 12 months.

These include The Accenture Consumer Pulse Survey 2022, which analysed responses from 11,000 consumers in 16 countries, revealing that despite two-thirds (66%) of survey respondents saying they felt squeezed financially, 80% intended to maintain or increase their spend on areas related to health and fitness.

In relation to the prediction that "boomers will go boutique", the report says "in the coming years, we predict a growing number of boutique fitness offerings designed specifically for this vibrant age group.

"More than half of baby boomers say they prioritise wellness now more than ever and over a third see strength training as more important than other wellness activities."

This view was endorsed by Leah Seacrest, Vice President of Operations at USA-based franchised studio operator Regymen Fitness, who advised “there was a time when those aged 55+ might’ve been considered in the sunset stage of their life.

"But now they’re active, and want to continue to be active. They want quality of life, and they know exercise is part of that."

Rachelle Reed, Chief Health and Science Officer, at USA-based SWEATHOUZ added “more and more, consumers are looking for preventive wellness strategies that not only have short-term benefits but also long-term benefits.”

Click here to view the Mindbody + Classpass 2024 Predictions Report.

Related Articles

28th August 2023 - Premier Fitness Supply launches wholesale gym equipment partner program

24th August 2023 - Accor and Peloton partner to incentivise health and fitness for guests travelling in Australia

16th August 2023 - Wexer partners with the MELT Method to expand its wellness solutions offerings

9th August 2023 - Jetts Fitness named second in ‘Best Places to Work in Australia’

1st August 2023 - Overwhelming response for HYROX Australian fitness competition

28th July 2023 - Life Fitness announces new Chief Executive appointment

19th July 2023 - Walking, swimming and fitness centre training are the most popular activities Australians do regularly

19th July 2023 - China’s biggest online fitness platform Keep Inc begins trading in Hong Kong

27th June 2023 - Australian wellness franchise City Cave launches first USA location

14th July 2023 - New ARV COVID-19 recovery report charts upward trend in post pandemic facility attendances

6th July 2023 - AUSactive invites industry input in predicting hottest fitness trends for 2024

24th June 2023 - Qatar’s Global Wellness Summit secures sustainable tourism advocate as keynote speaker

20th June 2023 - Les Mills among World Wellness Weekend participating organisations

1st June 2023 - Installation of innovative Myrtha System now 40% complete at Palmerston’s Swimming and Wellness Hub

12th May 2023 - Fluition to launch transformative wellness retreats

4th April 2023 - Court orders Mindbody founder Rick Stollmeyer to pay US$48 million over breach of duties to shareholders

3rd February 2023 - Global Wellness Summit report identifies 12 Wellness Trends for 2023

14th January 2023 - Les Mills identifies three key fitness trends set to shape 2023

2nd January 2023 - ACSM predicts wearable technology as the top fitness trend for 2023

9th December 2022 - ClassPass and Mindbody look back at fitness and wellness trends for 2022 

28th July 2022 - Mindbody and ClassPass Mid-Year Wellness Trends Report explains a changing business landscape

6th April 2022 - Mindbody launches Mindbody Capital to help fuel recovery of the wellness industry

23rd March 2022 - Mindbody reveals global agreement to back boutique fitness chain TRIB3

21st February 2022 - ClassPass champions a selection of Australian innovative and inspiring fitness and wellness studios

14th October 2021 - Mindbody to acquire ClassPass and announces $500 million strategic investment

14th January 2020 - ClassPass secures further US$70 million investment

---

Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.