AusLeisure

The newly-released Mindbody and ClassPass 2022 Mid-Year Wellness Trends Report has shared a range of predictions for the exercise, fitness and wellness industry revealing “a common thread of optimism” with “endless opportunities for growth”.

Focussed on the US market, the Report explains what the future holds in the business landscape after COVID-19, making predictions in five key areas. 

Prediction: Return to in-person experiences
With February 2022 seeing the ClassPass platform record the most reservations since February 2020 with users booking at 10% higher rates than pre-pandemic times, the report suggests that consumers are returning to in-person experiences (which the Report refers to as IRL [in real life], explained as "something real and outside the digital world of communication, gaming or virtual reality") at rates that, in some areas, surpass pre-pandemic levels. 

Mindbody data reveals that 82% of Mindbody app users are utilising the platform exclusively for in-person bookings, while just 14% are seeking virtual offerings.

For those participating in virtual fitness, those classes can serve as a great feeder to in-person experiences. 35% of Americans started going to an in-person fitness class they discovered through virtual fitness.

The Report advises that this return “to in-person experiences presents growth opportunities for the wellness industry. Almost a third of Mindbody fitness customers plan to expand their business into more locations in the next by December 2022.”

Prediction: The metaverse will expand
The Report predicts that adoption of augmented reality (AR) and virtual reality (VR) will continue its rapid growth, suggesting growth of more than US$125 billion globally by 2024 with 32% excited about AI's ability to provide personalised fitness suggestions through apps and additional technology. 

The Report found that 55% of Americans who aren't currently enrolled in a gym or studio say getting in better shape first would help them feel less intimidated. An increasing number of such people are using AR/VR equipment to work out at home, which can allow gym-goers to get comfortable with their fitness level in anticipation of joining a gym or studio.  

It also finds that ‘Gymtimidation’ is a factor for those who haven’t made their way back to the gym with 55% of Americans who aren't currently going to a gym or studio saying getting in better shape first would make them less intimidated.

Prediction: Personalisation will be an expectation
Citing a recent report from the respected McKinsey Global Institute, more than 70% of consumers expect to have personalised interactions with the brands they invest in and a second McKinsey report that shows consumers are increasingly willing to give their personal data to receive more personalised wellness treatments and services, the Mindbody/ClassPass Report suggested that “wellness businesses can use the information they gather through algorithms to implement dynamic pricing”.

It also noted “there is a concern for consumer's privacy when paired with personalization, so there must be total transparency between brands and their clients about the data they collect for personalised treatments and products. 

Explaining how it uses this personalisation Bryan Myers, President and Chief Executive of The Hydration Room commented “personalisation has been the driving force behind our business strategy since day one. 

“Our health and wellness are inherently individual. What is going to work for you might not always be the case for anyone else. With personalisation and customisation, you receive a much more engaged customer: one who visits weekly, is eager to try new services, and becomes a champion of your brand online and in-person.

“Of course, this all leads back to customer service - making sure you have dedicated employees who are willing to put in the time to educate your customers. That will always yield a reward.”

In the years ahead, Myers adds “personalisation, in order to help clients achieve results, is more than a business strategy - it is a business imperative. Without it, clients are apt to move on until they find someone willing to help them lay out a roadmap more clearly and personally.”

Prediction: Company culture will be more important than ever
With businesses globally having trouble finding staff, flexibility and company culture are identified as key to attracting and retaining high-quality talent while, in addition, 40% say corporate wellness programs motivate them to prioritise wellness more, which can help prevent burnout.

The Report also notes that the definition of wellness is changing with people experience wellness in different ways. 

It advises “one person might want to unwind with a calming yoga class or a massage, one person might unwind by getting their nails done, another might prefer to hit a sweat-inducing class.

“Wellness encompasses physical health, mental health, spiritual health, and more. In fact, 24% of Mindbody app users said they are likely to occasionally splurge on treatments including massages, infrared saunas, and nutritional health coaching to support their overall wellness routine.”

Prediction: Consumers will continue to seek more from their wellness experiences
The Report advises that consumers are more focused on wellness than ever and are expanding their definition of wellness to encompass a whole lot more than just being in shape suggesting that “this is likely to be a lasting effect of the pandemic, as Americans share the pandemic has negatively affected their mental (49%) and physical health (40%).

“These days, wellness means reducing stress, feeling confident, and finding a sense of community and belonging. It spans mental, physical, and spiritual dimensions - and, according to recent Mindbody research, consumers in the USA, UK and Australia are all prioritising mental wellness above all other facets of wellness.

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