Factors Affecting Fitness Membership Prices
A Hybrid Sports Discipline
Due to the restrictions during the Covid-19 pandemic, fitness centers had a difficult time. While some salons are entirely closed, some have limited membership numbers. Online fitness classes, which came to the fore in this period, became one of the concepts brought by the pandemic. While many fitness trainers today say they will return to the purely physical gym, some say they will always keep the online option.
According to studies, while large fitness centers did not change their membership prices, there was an average of 20% increase in face-to-face classes in smaller gyms described as boutiques. The biggest reasons for this are the capacity restrictions due to the epidemic and increased operational expenses. However, membership prices for online classes dropped by about 20%. Moreover, the demand for this new model is relatively high. In other words, digitalization is a phenomenon with broad implications for the fitness industry, and it seems that a hybrid online/face-to-face training model will be adopted over time. That, of course, affects fitness membership prices.
Increase in Equipment Market
While the global fitness equipment market was valued at approximately $9 billion in 2020, this number is expected to increase to more than $5 billion by 2028. The most valuable product category is cardio equipment in the global fitness equipment market, which is expected to reach more than 14 billion dollars in 2028. For this reason, one of the primary reasons for the year-based price increases in fitness memberships is the increasing value of the equipment used in the halls.
Population Density is an Important Factor
One of the most critical factors affecting the demand for a fitness club is population density. Large gyms usually prefer locations with at least 60,000 and more than 100,000 people. From this point of view, since the demand is high in the halls where the population density is high, the prices may be at an average level inversely proportional to the demand.
Packages and Add-ons
Some fitness centers may include package offers on pricing. These packages may provide discounts for long-term memberships and increase the price in the case of personal training sessions or VIP privileges. For this reason, you should plan the process you plan to do fitness well and choose the suitable package for you.
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