The low cost gym segment isn’t a new one – it’s been around for decades. Nevertheless, it’s important to understand the appeal it has to consumers.
There are at least six underlying factors that have driven the growth of this segment.
- Changing consumer
- Consumer sentiment toward legacy clubs
- Sporadic attendance to legacy clubs
- Digital infrastructure
Let’s look at the changing consumer for a moment. They are becoming less obsessed with buying brands merely as a means to demonstrate social status. Many now prefer to discuss their bargains found in the local low-cost store, broadcasting it on Twitter and Facebook. It’s a badge of honor to pay less; it demonstrates wisdom.
However, consumers won’t broadcast their bargains if they don’t think they received value in return. An inferior product does not lead to long-term success – a lesson learned by gyms in all segments. Not surprisingly, the low cost gym segment knows that high-quality fitness equipment is central to that success.
They’re motto could be: “Do less, but do it well.”
To learn more about how low cost gyms are appealing to consumers attitudes, click here to read a recent report on this growing segment.