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How will the largest generational group since the baby boomers impact the health club and fitness industry ? This presentation shares a view of how Millennials are impacting the business.

How will the largest generational group since the baby boomers impact the health club and fitness industry ? This presentation shares a view of how Millennials are impacting the business.

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  • 1. May 2012The New Consumer:How Millennials Will Impact The Fitness Industry @bryankorourke1 Generational Impact bryankorourke.com
  • 2. May 2012The New Consumer:How Millennials Will Impact The Fitness Industry AKA also known as “echo boomers” “next generation” “generation y” “peter pan” “millennials”2 www.bryankorourke.com
  • 3. The New Consumer: May 2012How Millennials Will Impact The Fitness Industry3 www.bryankorourke.com
  • 4. Question The New Consumer: How Millennials Will Impact The Fitness Industry WHO Are They ? May 20124 www.bryankorourke.com
  • 5. May 2012The New Consumer:How Millennials Will Impact The Fitness IndustryWho Are Millennials ?a) born between early 80’s and late 90’sb) children of the “baby boomers”c) highly influenced by technologyd) the largest generation since boomerse) all of the above5 www.bryankorourke.com
  • 6. WHO ? Beliefs The New Consumer: How Millennials Will Impact The Fitness IndustryAge 16-34 AlsoA State of Mind May 20126 @bryankorourke www.bryankorourke.com
  • 7. The New Consumer: May 2012How Millennials Will Impact The Fitness Industry http://pewresearch.org/millennials/quiz/ www.bryankorourke.com7
  • 8. Question The New Consumer: How Millennials Will Impact The Fitness Industry its important folks @bryankorourke8 @bryankorourke www.bryankorourke.com
  • 9. Question The New Consumer: How Millennials Will Impact The Fitness Industry Will history teach us nothing ? Sting | Nothing Like The Sun9 www.bryankorourke.com @bryankorourke
  • 10. The New Consumer: May 2012 How Millennials Will Impact The Fitness Industry Strauss and Howe’s provocative theory of American history as a series of recurring 80 to 100-year cycles. Each cycle has four "turnings"- a High, an Awakening, an Unraveling, and a Crisis. History Includes Many Examples Of How Generational Trends Have Impacted Businesses10 @bryankorourke www.bryankorourke.com
  • 11. The New Consumer:Largest Generation Yet How Millennials Will Impact The Fitness Industry Millennials Spend $170 Billion A Year May 201211 @bryankorourke www.bryankorourke.com
  • 12. May 2012The New Consumer:How Millennials Will Impact The Fitness IndustryGenerational Traits1. Intense Use of Technology;2. Poor Economics & Delayed Rites Of Passage;3. Culturally More Diverse;4. More Narsacistic Than Boomers12 www.bryankorourke.com
  • 13. The New Consumer:What Do THEY Think ? How Millennials Will Impact The Fitness Industry May 2012 @bryankorourke13 http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdfwww.bryankorourke.com
  • 14. The New Consumer:1. Self Expression How Millennials Will Impact The Fitness Industry May 201214 @bryankorourke http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdfwww.bryankorourke.com
  • 15. The New Consumer:1. Self Expression How Millennials Will Impact The Fitness Industry Trust Pew Research revealed that Millennials believe “you can’t be too careful with the people you deal with,” and 72 percent feel that most people can’t be trusted. May 2012http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf www.bryankorourke.com15 @bryankorourke
  • 16. 2. Information The New Consumer: How Millennials Will Impact The Fitness Industry May 201216 @bryankorourke www.bryankorourke.com http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf
  • 17. 2. Information The New Consumer: How Millennials Will Impact The Fitness Industry "Its not about your company. Its about me helping my friends." -8095 Live participant May 201217 @bryankorourke www.bryankorourke.com http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf
  • 18. The New Consumer:3. Action How Millennials Will Impact The Fitness Industry May 201218 @bryankorourke http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf www.bryankorourke.com
  • 19. 3. Action The New Consumer: How Millennials Will Impact The Fitness Industry Word of Mouth ..... On CRACK May 201219 @bryankorourke http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdfwww.bryankorourke.com
  • 20. 4. On-Off Line, MOBILE The New Consumer: How Millennials Will Impact Reverberation The Fitness Industry May 201220 @bryankorourke www.bryankorourke.com http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf
  • 21. 4. On-Off Line, MOBILE The New Consumer: How Millennials Will Impact Reverberation The Fitness Industry On average, Millennials have twice as many core friends online as they do offline. There’s no longer a delay between a thought or experience and the ability to communicate it, anyone who has an opinion is able to voice it instantly. And, unlike most digital interactions, mobile- platform conversations are private and untrackable, yet even more personal and powerful. May 201221 @bryankorourke www.bryankorourke.com http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf
  • 22. 4. On-Off Line, MOBILE The New Consumer: How Millennials Will Impact Reverberation The Fitness Industry May 201222 @bryankorourke www.bryankorourke.com http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf
  • 23. The New Consumer:4. On-Off Line, MOBILE How Millennials Will Impact Reverberation The Fitness Industry The Gap Between Reverberation And Commerce Is Closing Fast May 201223 @bryankorourke www.bryankorourke.com http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf
  • 24. How Do Club Operators The New Consumer: How Millennials Will ImpactAdjust & Compete ? The Fitness IndustryMillennial consumers will requirerethinking health club business models May 2012 www.bryankorourke.com24 @bryankorourke
  • 25. May 2012The New Consumer:How Millennials Will Impact The Fitness IndustryWhat Percentage Of Core HealthClub Members in US AreMillennials ?a) 10%b) 15%c) 20%d) More Than 30% May 201225 www.bryankorourke.com
  • 26. How Do Club Operators The New Consumer: How Millennials Will ImpactAdjust & Compete ? The Fitness Industry Millennials Make Up 1/3 Of Core MembershipMay 201226 www.bryankorourke.com @bryankorourke
  • 27. How Do Club Operators The New Consumer: How Millennials Will ImpactAdjust & Compete ? The Fitness Industry Its All About YOUR The Product - Service Customer ExperienceIs The Brand27 @bryankorourke May 2012 www.bryankorourke.com
  • 28. How Do Club Operators The New Consumer: How Millennials Will ImpactAdjust & Compete ? The Fitness IndustryProgramming -Affinity | Caring New Group Fitness Social Activities May 201228 @bryankorourke www.bryankorourke.com
  • 29. How Do Club Operators The New Consumer: How Millennials Will ImpactAdjust & Compete ? The Fitness IndustryFlexible Pricing |Groupon | Deals avoid this perception at all cost“this age group is lessemployed thanothers, often having todelay certain rites ofpassage like movingout of their parents’home or starting acareer.” May 201229 @bryankorourke www.bryankorourke.com
  • 30. How Do Club Operators The New Consumer: How Millennials Will ImpactAdjust & Compete ? The Fitness IndustryMarketing Are you engaging with customers in the digital and social space ? Are you shifting from direct mail ? May 201230 @bryankorourke www.bryankorourke.com
  • 31. How Do Club Operators The New Consumer: How Millennials Will ImpactAdjust & Compete ? The Fitness IndustryTechnology Is your website mobile ? Are you using text marketing ? What is your technology platform ? May 201231 @bryankorourke www.bryankorourke.com
  • 32. How Do Club Operators The New Consumer: How Millennials Will ImpactAdjust & Compete ? The Fitness Industry Learn More - Get This FREE Report32 @bryankorourke www.bryankorourke.com
  • 33. How Do Club Operators The New Consumer: How Millennials Will ImpactAdjust & Compete ? The Fitness Industry Learn More - Get This FREE Report33 @bryankorourke
  • 34. The New Consumer: May 2012How Millennials Will Impact The Fitness Industry34 www.bryankorourke.com
  • 35. May 2012The New Consumer:How Millennials Will Impact The Fitness Industry @bryankorourke35 GGFA Webinar THANKS bryankorourke.com