Fitness industry, hurt by COVID shutdowns, works to bounce back | Beaufort County Now | The government-imposed lockdowns of last year wrecked the global economy, and the fitness industry was among the businesses hurt most by the closures.

Coronavirus Disease 2019 (COVID-19)
    Publisher's Note: This post appears here courtesy of the Carolina Journal. The author of this post is John Trump.



    The government-imposed lockdowns of last year wrecked the global economy, and the fitness industry was among the businesses hurt most by the closures.

    But a new study finds the industry is "poised for incredible growth ... with fitness trends undergoing a seismic shift away from gyms and towards outdoors, home fitness, and digital options."

    RunRepeat, which specializes in shoes for athletes and studies the fitness industry, examined the state of that industry post-pandemic. To get the numbers, RunRepeat, its website says, researched and analyzed hundreds of studies and compiled them into an overview of more than 15 fitness industry statistics, including worldwide gym memberships, online fitness and apps, and sales of fitness trackers and fitness equipment.

    "The industries hit the hardest by the pandemic were the gym, health club, and boutique fitness studio industries," RunRepeat says, including a drop of 58.30% in the first year of the pandemic.

    The industry saw a 32.45% decline in revenue in 2020, and it's expected to rebound to 0.55% pre-pandemic levels by year's end, the study finds.

    "In 2021, (gyms and health clubs) are projected to still be down 22.5% from their pre-pandemic revenue levels in 2019. Meanwhile, online/digital fitness, fitness apps, fitness equipment, and fitness tracker markets all experienced significant growth due to the pandemic," including a 40.61% growth in revenue last year, projected to be up 66.32% by the end of 2021, in comparison to their pre-pandemic levels

    "From 2021 to 2028, the online/digital fitness industry is projected to have the highest growth rate of 33.10% per year," the study says.

    The global pandemic is the biggest disruption the fitness industry has ever faced, wrote Nick Rizzo of RunRepeat.

    "The COVID-19 pandemic has directly affected the fitness industry in 2020 as many gyms and fitness centers were forced to shut down operations to reduce the spread of the virus," the study concludes. "The fitness industry suffered a huge decline in revenue, but is expected to start to recover in 2021 and the succeeding years as people put more emphasis on their health and well-being."

    In North Carolina, Gov. Roy Cooper, a Democrat, closed gyms in March 2020. He allowed them to reopen months later, at starkly limited capacity, and gyms in many towns, including Raleigh and Cary in Wake County, still require facemasks.

    About 25% of gyms in the U.S. were expected to close by the end of last year, an earlier RunRepeat study found. Further, the gym and health club industry lost an estimated $14 billion from mid-March to Aug. 31, according to data compiled by the International Health, Racquet & Sportsclub Association.
Go Back

HbAD0

Latest Op-Ed & Politics

So far this year, Gov. Cooper has pledged over $930.7 million in tax incentives to just 22 corporations, including $845.8 million over four decades to Apple
Candidate filing for the 2022 statewide primary and rescheduled municipal elections begins at noon on Monday, December 6, and ends at noon on Friday, December 17.
In May, the UNC School of Medicine revised its Guidelines for Appointment, Reappointment, and Promotion.
While a bill that would legalize sports betting across North Carolina passed a House committee last week, odds are heavily against it passing the full General Assembly before the session ends.
James W. Frick had a head full of Carolina common sense. Born in New Bern, in 1924, he was raised in a Catholic orphanage and graduated from Notre Dame.

HbAD1

Tristen Wallace began his college days at the University of Oregon with dreams of eventually playing in the NFL. But shortly into his college career, he was accused by two women of rape and expelled.
State Sen. Tom McInnis, R-Richmond, has moved his permanent residence from Richmond County to his second home in the Pinehurst area of Moore County to run for the newly-drawn state Senate District 21, which will include all of GOP-rich Moore County, and much of Cumberland County.
Former Border Patrol Chief Rodney Scott, who was forced out of his position by the Biden administration earlier this year, issued a stark warning during an interview, saying that the greatest threat that the U.S. is facing is the current administration withholding information from the public.
Amanda Knox fiercely defended teenager Kyle Rittenhouse, who was found not guilty last month on all charges related to a fatal shooting that took place in August 2020.
Last year, Forbes published a headline, “Americans rank a Google internship over a Harvard degree.” It seems higher education is quickly losing hold of its value proposition as the best way to prepare for a job or advance in one’s career.
''independent redistricting commissions'' actually more corrupt

HbAD2

A N.C. company looking to bring a lithium mine to Gaston County is facing pushback from environmental groups, despite a deal already in place to use the mine’s products for electric vehicle batteries.

HbAD3

 
Back to Top