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HOW COVID-19 CHANGED THE WAY WE WORK OUT
By Sheryl Nance Nash
The fitness world is among the top industries impacted by the pandemic. Gyms, as well as yoga, karate, and Pilates studios were required to shut down for months and when they reopened, restrictions limited how many people could be on the premises. The disruption was devastating.
The International Health, Racquet & Sportsclub Association (IHRSA), reports that U.S. fitness industry revenues dropped 58% in 2020. Nearly 20% of fitness facilities permanently closed, eight major fitness companies like Gold’s Gym and 24 Hour Fitness filed for bankruptcy, and more than one million industry employees lost their jobs.
The shakeout reshaped the fitness landscape. For many, home sweet home not only morphed into the office but the gym. According to published reports, health and fitness equipment revenue more than doubled, to $2.3 billion, from March to October of 2020, according to NPD retail data. Sales of treadmills soared 135% while those of stationary bikes nearly tripled, depleting inventories. In a recent survey from research firm Prodege, 63% of those surveyed said they now do most of their workouts at home.
