ThinkNow Smart Fitness: The Rise of Connected Fitness and Community
The pandemic has accelerated the shift from traditional in-person gym memberships to broader acceptance of at-home connected fitness equipment. But a recent ThinkNow study shows that the gym isn’t dead, and connected fitness has a long way to go. For our 2021 ThinkNow Smart Fitness Report, ThinkNow conducted a nationwide online survey of American adults ages 18 to 64 to understand consumer usage of internet-connected fitness equipment and perceptions of connected fitness brands. Room To Grow Twenty-five percent of respondents report owning connected fitness equipment. Ownership is highest among Non-Hispanic Whites and African Americans. Within the Total Market, ownership is highest among Millennials and increases drastically with income, and men are twice as likely as women to own smart exercise equipment. It’s important to reiterate that only one out of four respondents report owning connected fitness equipment, and 20% of those who do not currently own it are at least somewhat interested in purchasing it. This data suggests a tremendous opportunity for brands innovating in or entering the connected fitness space. Most Popular Connected Fitness Equipment However, differences emerge when we take a closer look at the types of connected fitness equipment consumers own. Exercise bikes and treadmills, artifacts of the 1970s and 80s fitness movement, have maintained their appeal over the years, getting “smarter” with each passing year. Traditional resistance weight machines, reminiscent of the bodybuilding craze, appear to be losing some ground to, more minimalistic forms of strength training, like resistance bands. Of the most popular brands of connected fitness equipment available, Peloton, Mirror, and NordicTrack are favored by respondents, while CLMBR, Tonal, and SoulCycle, rank in the bottom few. However, competition within this space is heated, with only a slim margin separating one brand from the next, especially as lines start to blur on product offerings. Mirror, for example, offers a variety of workouts, from cardio and strength training to Pilates and Tai Chi. Accessories include fitness bands and yoga blocks but no weights. They likely pride themselves on their minimal impact on home life. Tempo and Tonal, however, both positioning themselves as “smart gyms,” offers accessories like weights and smart handles to maximize workouts. NordicTrack has a suite of products, including exercise bikes and an interactive “mirror” similar to Tempo, with a vault of weights and accessories inside. And while Peloton is probably more known for its bikes, the company also offers boot camp style workouts, yoga, barre, among others, with no equipment required. The most significant threat to the success and continued adoption of connected fitness equipment is forward-thinking gyms innovating to stay competitive.
