Fitness Market Analysis Essay
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Industry: How many fitness centers? What’s their revenues? Profit margins? Is it growing? Concentrated or not? Market: PMB, attendance, consumer spending, Statistics Canada (average spending) General Trends: Growing? Health trends?
Key Competitors: other popular gyms in the area (Nautilus, Progym, energy cardio)
The Fitness Market
The fitness market is very large and keeps growing. This market is targeted at anyone who wants to be in shape and is looking to live a healthier lifestyle. In 2009, consumers spent on average 186$ on fitness facilities and the median expenditure per household was 390$.
We notice a positive trend of fitness center attendance during the past 10 years. Since 2003, there has been an increase in participating in a physical activity throughout the population of Quebec. Even though this change is small, it is a good indicator that people are looking to workout more. If we notice other health behaviours in Quebec we will notice the same positive trend of wanting to live a healthy lifestyle.
There has been a drop in the smoker population: dropping from 26.4% in 2003 to 23.8% in 2010.
People are also consuming more fruits and vegetables (5 times a day) an increase from 45.4% to 51.1% (2003-2010). Even the population’s life expectancy increased by 2 years to 81 from 2003 to 2008. All these statistics give us a good understand of our population’s health behaviours allowing to conclude that that the fitness center market has a high potential for profit because people are looking to stay fit and live healthier and longer.