Scroll down your Instagram account, turn on the TV, open a magazine, go into a metro station… and chances are you will come across fitness ads, light recipes, fad diets, slimming teas, and tips on how to be healthy and fit. Consumers around the world are attempting to change their health habits.
A reflection of this trend is that Europe remains the largest health and fitness market followed by US with a 60M mass of users subscribed to gyms, +59K clubs and around €26B revenue.
Do not get it wrong, numbers do not mean this is an easy industry. Indeed, market trends keep evolving to new ways of consumption:
- Tendency to go online offering additional value: guided classes, consultations.
- Little loyalty, there is a big retention challenges for gym clubs: 50% of the members are lost each year & around 47% would consider cancelling for alternative exercise options*
- Big demand for flexible access and not be tied into a contract
- Pay-as-you-go gyms increase in popularity over longer contracts
Make the move, be digital!
Here they go our tips to not falling behind:
- Follow the market: as we see the fitness landscape is evolving to provide high-end services and satisfactory experiences (personal trainings, customized options, apps, diet and food services…). Payment is innovating to make user experiences quick, seamless and attractive. You can provide a paperless membership process to accept payments, saving time and frustration for members.
- Keep innovating: new products and classes, and new trends are coming each year. Influencers play a key role in this movement, stay on trend and explore new fitness options.
- Be flexible: flexibility on demand. The industry is shifting, users are running away from those typical lengthy membership contracts. Many gyms are offering flexible packages with short term contracts, with transparent prices and the option to add additional services “paying as you go”.
- Open yourself to new opportunities: fitness management softwares such as KeepCool, Resamania or AppSolufit, are increasing in number as an “easy” way to expand outside the big cities where the demand is growing.
- Be agile and customer centric: adapt your offer to your target group and include a user friendly sign up process with clear prices.
- Stay ahead of the curve in security matters. Safety and security are still top of mind for users.
Offer the best user experience
This is where SlimPay can help you. We can support you creating the best user experience with a smooth onboarding process, improving the payment experience and being flexible:
- Paperless mandates with online signature of mandates and documents
- Offering the perfect payment mix:
Do you want to know more? Contact us!