THE NEUTRAL ZONE
In light of recent stay-at-home measures being implemented by states, many Americans are finding other ways to exercise outside of the gym. This sudden and massive shift from brick and mortar gyms to home virtual workouts is likely an indicator of how the public could ditch gym memberships for working out in the comfort of their homes.
A strong indicator of consumers’ commitment to working from home is Peleton’s one month surge in memberships, launching their stock to an 86% increase month over month. Many are taking a liking to the comfort, privacy, and accessibility of working out from home, and the demand for virtual fitness and yoga classes is steadily increasing. Even professional sports teams have been adjusting to this new normal.
Gyms, however, are staring down a bleak future. According to a recent survey polling gym regulars, 46.7% of gym-goers reported that they would not be returning to their gyms when they reopen. Big-name gyms such as Gold’s Gym and 24-Hour Fitness have either filed for or are currently considering bankruptcy. Brick-and-mortar gyms will have many obstacles to overcome when they do re-open, such as enforcing strict social distancing guidelines and ensuring customer safety, as many still believe returning to gyms is far too risky.
Gold’s Gym files for bankruptcy protection, CEO assures bodybuilding chain isn’t going out of business – Fox Business – 5/5/20 “No one had a playbook for this, the virus affected us very deeply, we had to take immediate action,” Zeitsiff told FOX Business on Tuesday. “Choosing to close those clubs and going through this financial restructuring is going to ensure we come out a stronger company.”
As Home Workouts Rise During Coronavirus, Gyms Sweat – Wall Street Journal – 5/6/20 “I’m never going to sign up for a full brick-and-mortar gym with a monthly charge anymore,” says Mr. Seryak, who likes the low cost and convenience of his new workout. “I don’t need to coordinate, text somebody and say we’re gonna pay for this class—it’s just insanely easy.”
Gyms sweat out COVID-19 closure, press for early reopening – The Laconia Daily Sun – 5/5/20 “We are requesting preferably a May 18 opening,” Michael Benton, owner of Executive Health & Sport Center in Manchester, told a governor’s task force on Tuesday. He said gyms typically draft member bank accounts monthly to get the bulk of their revenue but haven’t been able to do so since a governor’s closure of non-essential businesses in March.
Every Mother is a fitness streaming platform for new and expecting mothers – TechCrunch – 5/6/20 Every Mother will offer fitness classes to combat one of the most common conditions that affects expecting mothers: diastasis recti, a condition that leads to a protruding waistline, urinary incontinence and back pain. The condition often worsens with traditional exercise, Rapaport said.
Yashar Ali on Twitter, 5/6/20: NYT on super-spreader businesses…least risky types of businesses with respect to spreading coronavirus and most risky types Sit-down restaurants, hair and nail salons, & gyms tend to be super spreaders. Amusement parks are less risky
Elahe Izadi on Twitter, 5/6/20: I am sorry to report but some people are getting hotter during the quarantine. […] (some thriving by letting hair go product free, skin go makeup free and filling time with virtual workout classes)
Marc Lobliner on Twitter, 5/6/20: Gyms here are operating 50% max capacity, which is basically normal. And there is nobody coming in and actually counting, so it’s basically YOLO
Luis Miguel Echegaray on Twitter, 5/6/20: Telling you right now, Emma. No more gyms for me. All about the home workouts! Also, my cooking is OFF THE HOOK NOW. It was always decent but now it’s out of this world. Also, more hugging (even if it’s an air-version)
Rebecca L. Salinas on Twitter, 5/6/20: I was contemplating buying an indoor bike but then I realized that my gyms/studios will reopen someday, and I wouldn’t *really* need it afterward. But even if my gym/studios reopen this month I’m not sure if I want to go back yet