National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Brick-and-Mortar Fitness Gets Its Second Wind
Brick-and-mortar fitness, a darling of retail landlords prior to COVID-19, was written off two years ago as a casualty of the pandemic, to be largely replaced by virtual fitness. That forecast didn’t age well, though, as a new white paper from Placer.ai demonstrates.
“Interest in health and wellness is on the rise,” the white paper states. “The fitness, health, and gym club industry in the United States already reached $36.6 billion USD in revenue in 2022, and consumer demand shows no sign of slowing down.”
Although the pandemic temporarily halted offline fitness growth as home workouts became the norm, “the pandemic also pushed many to embrace health-promoting behaviors and make significant lifestyle changes – which is now leading to a major lift in gym foot traffic,” says Placer.ai.
The role of digital and connected fitness is increasing in importance, the white paper points out. However, “After so much time spent isolating, people are now seeking out in-person experiences and interactions – and in the current economic climate, gyms can serve as a budget-friendly activity and social outlet.”
Pictured: Planet Fitness in Carson, CA.
- ◦Economy
