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2020 Fitness Industry Technology Council Trend Report

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The Fitness Industry Technology Council and its board of directors share their views about the impact of technology on the fitness industry in 2020 and for the next decade.

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2020 Fitness Industry Technology Council Trend Report

  1. 1. F I T C 2 0 2 0 F I T N E S S T E C H N O L O G Y T R E N D R E P O R T | W W W . F I T T E C H C O U N C I L . O R G 2020 FITNESS INDUSTRY TECHNOLOGY TREND REPORT F I V E U N D E R LY I N G T R E N D S T H AT W I L L D R I V E T H E W E L L B E I N G & F I T N E S S I N D U S T R Y I N 2 0 2 0 A N D T H E D E C A D E A H E A D +
  2. 2. 2 0 2 0 F I T N E S S I N D U S T R Y T E C H N O L O G Y T R E N D R E P O R T + INTRODUCTION F I T N E S S I N D U S T R Y T E C H N O L O G Y C O U N C I L Our mission at FIT-C is to promote the responsible and effective adoption of technology in order to enhance user experience, business models, and as a result grow the overall marketplace for fitness, wellbeing, and betterment product and services. Each year we share a report based on feedback from our board of directors, partners, supporters, and colleagues to help professionals and brands to consider key trends that will increasingly impact the market and the business models serving the market. Please visit us at, subscribe to our newsletter, and listen to our Fitness + Technology Podcast. Our content is free. We are a 501(c) 6 non-profit and thank our many supporters and board of directors for their leadership, contributions, and insights. Bryan K. O’Rourke Chief Executive FITTECHCOUNCIL.COM @FITTECHCOUNCIL
  3. 3. ABOUT FIT-C E S T. 2 0 0 8 For twelve years the fitness industry technology council has been working with innovators in the fitness industry to promote the responsible and effective adoption of technology to enhance user experience, improve business models, and grow the marketplace. Over forty global brands provide their support, including fitness operators, equipment manufacturers, associations, executives, and technology developers for their insights, contributions, and collaboration. We thanks those brands and their leadership. Every year we release our key trends report for free to the world and provide resources to support increased adoption of innovative technologies. We hope you like it. If you would like to get involved let us know and follow us @fittechcouncil on most digital networks. We are a 501(c)6 non-profit that has the support and involvement of leading global betterment, wellbeing, and fitness technology brands. We spend all of our funds on educating and supporting the adoption of technology to enhance user experience, improve business models, and growth the marketplace. We’ve helped thousands of people and brands. A Non-Profit Consortium Over 30,000 fitness professionals and decision makers receive our monthly newsletters, with tens of thousands listening to our Fitness + Technology Podcast weekly. Our videos and presentations around the world also share thought leadership. Information Resources Our board of directors include global technology leaders: Kelly Card of ABC Financial, Ted Vickey of FitWell, LLC, John Ford of eGym, Craig Miller of Planet Fitness, Sharad Mohan of Trainerize, and Bryan O’Rourke of Vedere Ventures. We thank them for their leadership and contributions. Leading Board Of Directors FITTECHCOUNCIL.COM @FITTECHCOUNCIL
  4. 4. + 2020 TRENDS N O T J U S T A B O U T T E C H N O L O G Y As the Gartner Hype Cycle attests there are many “technologies” emerging, from VR, to AI and from voice to quantum computing. The list is long. What is “new” isn’t going to impact business models and markets in the next 12 months but might in 24-36. Just consider home voice devices and platforms like Google Home and Amazon Alexa; those came out of nowhere. Each year many “trends” are identified using generic terms with misunderstood implications. “Wearables” as an example are just sensors and their current use cases are still evolving; what does that exactly mean when terms like these are identified as a key trend ? We try to be more contextual in our report so that it can hopefully be more useful in redefining UX and enhancing business models and strategies. FITC attempts to contextualize technology based on underlying megatrends, the way consumers and organizations view the world, and how those customers and business models are evolving. It is not just about technology, it is about how we work, live, exercise, eat, learn, socialize, purchase, and more. It’s not just about fitness; it is about a larger ecosystem of wellbeing and betterment.
  5. 5. F I T C 2 0 2 0 F I T N E S S T E C H N O L O G Y T R E N D R E P O R T | W W W . F I T T E C H C O U N C I L . O R G THE FIVE UNDERLYING MEGATRENDS T E C H N O L O G Y I S A B I G PA R T O F T H E G R O W I N G E C O S Y S T E M O F W E L L B E I N G W H I C H I S C H A N G I N G F A S T A S A R E S U LT O F T H E S E F I V E M E G A T R E N D S I M PA C T I N G A L L I N D U S T R I E S . T E C H N O L O G I E S S E R V E A S A S Y M B I O T I C D R I V E R C H A N G I N G B E H AV I O R S A N D C R E AT I N G M O R E O P T I O N S , A LT E R N AT I V E S , A N D C H O I C E S G I V E N T H E S E T R E N D S . ConsumersGlobalism Demographics Technologies Economics An interconnected multi- cultural world creating new markets, cross boarder competition, and innovation. Changing demography with an aging population, the decline in brith rates, and heightened cross generational dynamics. Increasingly empowered and knowledgable buyers have higher expectations of everyone and everything. Always on and connected with more intelligence along with distrust and ethics being a bigger concern. Sustainability and the fourth industrial revolution recreating industries, jobs, production, capital and payment.
  6. 6. F I T C 2 0 2 0 F I T N E S S T E C H N O L O G Y T R E N D R E P O R T | W W W . F I T T E C H C O U N C I L . O R G 2. Business Model Reinvention 3. Connected Personalized Experiences 5. A Strategic Landscape 4. The Battle For Trust 1. Frictionless Commerce 2020 FITNESS INDUSTRY TECHNOLOGY TRENDS T H E F I V E T R E N D S T O K E E P A N E Y E O N I N 2 0 2 0 A N D B E Y O N D
  7. 7. F I T C 2 0 2 0 F I T N E S S T E C H N O L O G Y T R E N D R E P O R T 1 FRICTIONLESS COMMERCE S I M P L I C I T Y I S K E Y T O E X C E P T I O N A L E X P E R I E N C E S T H AT M A K E T H E C O M P L I C AT E D E A S Y A N D H E L P B U S I N E S S E S I N T E G R AT E I N T E R A C T I O N S T O C R E AT E M O R E VA L U E T O M E M B E R S O V E R T I M E . Apps that influence behaviors, like Noom are only the start. Technologies like Wexer, MYZONE and Motosumo that take information, content, and interfaces to support change and to inspire will enhance fitness experiences. Motivational & Inspirational Commerce The way we enjoy experiences will be impacted by how we interface with technologies. Experiences will be beyond the scope of what we are use to including voice, AR, VR, MR, sensors, data, and apps. Great fitness brands will use these tools to amplify human and human like interactions and emotions that transcend technology. Transcending Technology Frictionless experiences are all about what customers want, when they want it, and how they want it. The new term “ODAVAD", On Demand Anywhere Virtual Anytime Digital, is the new definition of frictionless. Consumers Are Demanding Change New venues and the integration of technologies are enabling new conveniences and ways to more easily consume fitness; from Peloton and Tonal at home or Equinox on the go, to FreshMealPlan for customized home delivered nutrition. Convenience Is The New Currency
  8. 8. F I T C 2 0 2 0 F I T N E S S T E C H N O L O G Y T R E N D R E P O R T 2 BUSINESS MODEL REINVENTION Lifetime Fitness launched Life Time Work, a co-working concept that combines health club experiences with exceptional workspaces. RSG, is building a healthy but decadent dessert business. Equinox is developing hotels. More brands are differentiating. New Services Weight loss application Noom is garnering larger share, Peloton may be an existential threat. New hybrids are entering the market. Gaming platforms will offer more alternatives. The market for fitness is getting more competitive. New Competitive Entrants The user experience is no longer confined by time or place. It is a continuum of touch points that incorporate wearable devices, mobile applications, in club experiences, all integrated seamlessly. In Club & Outside The Club Lulu Lemon, Gym Shark, are a few examples of brands that are making fitness offerings part of their models, thus creating new hybrid models which combine nutrition, recovery, apparel, digital, and fitness in new ways. Hybrid Combinations T R A D I T I O N A L F I T N E S S B U S I N E S S M O D E L S A R E B E I N G C O M P L E T E LY R E I N V E N T E D . P U R E D I G I TA L , AT H O M E , F A C I L I T Y B A S E D , A N D N E W H Y B R I D S W I L L D E L I V E R N E W F I T N E S S S E R V I C E S I N N E W W AY S .
  9. 9. F I T C 2 0 2 0 F I T N E S S T E C H N O L O G Y T R E N D R E P O R T 3 PERSONALIZED SERVICE Community based business models can create high value using technology platforms. The most successful brands will understand, engage, listen to, and love their communities who are becoming creators, advocates, and collaborators.. Communities Today and into the future personalization and the expectations around it will evolve to brands anticipating needs to make the consumer not only happy but to make them feel the brand understands who they are. Personalization The right blend of digital and in club experience that is seamless, personal, and differentiates is key. Orange Theory emails you when your workout is done and tells you how you did. MyZone provides in club displays and in-app motivation. Creating Experiences Is Key Mobile first is key. Brands need to have integrated mobile applications that not only deliver great information, support, and experiences, but incorporate wearable data and in club services. Mobile First L E V E R A G I N G D ATA A N D C O M M U N I T I E S W I L L R E Q U I R E M O R E O P E N C O N N E C T I V I T Y. S M A R T O R G A N I Z AT I O N S W I L L R E LY O N N E W U S E R A N D PA R T N E R C O L L A B O R AT I O N S T O R E - I N V E N T A N D I N N O VAT E . Sharad Mohan
  10. 10. F I T C 2 0 2 0 F I T N E S S T E C H N O L O G Y T R E N D R E P O R T 4 THE BATTLE FOR TRUST Marketing is not a separate function from product or service. How a brand acts is how they are marketing. Fancy messages, images, and bate and switch tactics are going to be punished by consumers. Brands must be and act for what they stand for. Marketing Is About Doing What You Stand For GDPR in the EU is only the beginning as regulators are examining the abuse of data that companies like Google and Facebook have been up to. Cyber-crimes. hacking, and abuse of private information is going to increasingly turn off people and governments. Privacy Is Going To Become A Bigger Deal There are fewer and fewer short-cuts. In the battle for trust, you have to embrace purpose and truth and work for the long-run by adopting long-term strategies based on sound business principals. Taking short cuts leads to diminished trust. Earning Trust Requires Thinking Long-Term Trust is at a historic low according to the Edelman Barometer. Consumers do not trust marketing and do not believe what most brands tell them. They are awash in information that is questionable. Brands must be truthful and earn trust to win. Brands That Truly Care Will Win W I T H G R E AT E R A C C E S S T O I N F O R M AT I O N W E W I L L B E A B L E T O B E T T E R E N G I N E E R O U R W E L L B E I N G .
  11. 11. F I T C 2 0 2 0 F I T N E S S T E C H N O L O G Y T R E N D R E P O R T 5 A STRATEGIC LANDSCAPE The fitness marketplace greatest growth opportunities are in markets that are currently being underserved. Aging and inactive populations will be part of significant growth in the next decade. Services will need to evolve to be more relevant to these consumers. Reaching New Markets In a world of diminishing resources, rising costs of pollution, and irresponsible past practices consumers want to see smart sustainable technology practices. Technologies are helping Adidas and Parley for example create shoes from recycled plastics. Expect more of these initiatives that re-invent sustainably. Sustainability Rethinking and redefining strategies will be essential in the coming years as rapid change continues to impact the fitness industry. Competitors must more keenly define their value propositions and thus rethink how they will compete. Redefining Strategy Industries are becoming arenas and internal players and external ones think, Amazon and Google, will be compete in the future. Additionally, past competitors could be future partners and current partners could become competition. Rethinking Business Relationships N E W D E L I V E R Y M E T H O D S A N D N E W A P P R O A C H E S W I L L L E A D T O T H E N E E D F O R B R A N D S T O T H I N K M O R E S T R AT E G I C A L LY.
  12. 12. F I T C 2 0 2 0 F I T N E S S T E C H N O L O G Y T R E N D R E P O R T “ L E T T H E F U T U R E T E L L T H E T R U T H A N D E VA L U AT E E A C H O N E A C C O R D I N G T O H I S W O R K S A N D A C C O M P L I S H M E N T S . T H E P R E S E N T I S T H E I R S , T H E F U T U R E , F O R W H I C H I R E A L l y W O R K E D I S M I N E . ” NIKOLA TESLA W A N T T O U N D E R S TA N D H O W Y O U R O R G A N I Z AT I O N C A N TA K E A D VA N TA G E O F T H E S E T R E N D S A N D I N N O VAT E A R O U N D T H E M ? P L E A S E L E T U S K N O W I N F O @ F I T T E C H C O U N C I L . O R G