Your fitness studio is so much more than just a space for fitness; it’s a hub of inspiration and transformation. Throughout 2023, your passion and commitment has helped to educate, inspire and transform clients’ lives.
We know it takes a lot of planning and hard work to run a successful studio, so we’d like you to take a moment to acknowledge the challenges overcome in the past year!
Succeeding means showing resilience, creativity, and unwavering dedication to your vision. It also means staying up to date with all of the latest trends — especially when operating within the fitness industry, which changes quickly and often quite dramatically.
Staying ahead of the curve is a necessity, and each time you embrace innovation is a stepping stone towards further growth and success. That’s why we’ve put together this article, so you can keep stepping along that path! Based on recent trends and the latest tech, we hope it helps your boutique fitness studio to navigate the exciting landscape of fitness and wellness as we enter 2024.
2023: The key takeaways
Delving into the past (or in this case, the right now) can serve as a valuable compass for navigating the uncharted territories of the future. Here’s what was big for fitness studio’s this year:
Social interaction is in high demand
According to research by Gitnux, over two thirds (67%) of users cite social interaction as one of their top reasons for attending boutique fitness classes. This is big news for brick-and-mortar studios.
It’s obvious that many members enjoy sharing a fitness journey with others for extra motivation, while others crave that ‘third space’ to hang out with like-minded people — particularly those who are part of the large workforce who now work from home post-COVID.
This statistic should be top of mind for your studio heading into 2024. Creating an engaging and supportive environment for users is vital for continued success, and it also highlights the unique benefits of boutique fitness classes over other forms of exercise — this could really help swing new members who’ve been on the fence about joining.
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A growing emphasis on holistic well-being
Holistic health is an approach to wellness that simultaneously addresses the physical, mental, emotional, social, and spiritual components of health. And, as a whole, the fitness industry has witnessed a growing emphasis on holistic well-being.
Around 50% of US consumers now report wellness as a top priority in their day-to-day lives, a significant rise from 42% in 2020. This more all-encompassing approach to health led to more fitness studios incorporating wellness services in 2023.
As the trend of holism looks set to stay, adding services such as meditation, mindfulness training, and habit coaching in 2024 could play a huge part in increasing the popularity of your studio.
Gen Z coming of age
Generation Z is the most recent generation to enter adulthood. This generation makes up 40% of the global spending population. As they come of age, their attitudes and behaviours toward health and fitness really began to take shape in 2023.
Gen Z has been exposed to technology and the internet from a very young age, making them highly tech-savvy and comfortable with online interactions. This has implications for how they find, engage with, and expect services from fitness studios.
At ABC Trainerize, we put together a full report exploring Gen Z’s preferences and motivations when it comes to staying fit and healthy. We recommend you check it out so that you know exactly how to appeal to Gen Z in 2024!
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2024 outlook – what can we expect?
According to Business Wire, the boutique fitness industry is experiencing remarkable growth – with the global market projected to reach a staggering $79.66 billion by the end of 2029!
The future of the fitness industry looks incredibly bright, but what trends are going to help fuel this remarkable growth over the next few years? Expect to see a lot more of the following in 2024 and beyond.
Adjusted pricing strategies
For fitness studio owners navigating the intricate landscape of business ownership, crafting a successful pricing strategy is paramount.
As we step into 2024, amidst rising operating costs due to inflation, a strategic reassessment of your pricing strategies is a must.
Precision in pricing not only fosters resilience, but also fortifies your business against unforeseen challenges. Striking the right balance is an art—it must be realistic yet motivating. Setting prices too high risks alienating potential clients, while pricing too low undermines the value of your studio and its services.
We know it’s a delicate process, but the solution is within reach. Our pricing guide for fitness studios will guide you to a pricing strategy that aligns with your fitness studio’s unique identity and positioning. As you embark on this journey, remember that your pricing strategy is not just about numbers; it’s a reflection of the value you bring to your community.
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Smart studios: how might AI impact fitness?
Once considered something futuristic from sci-fi movies, Artificial Intelligence (AI) has come on leaps and bounds in recent years — and it looks like, in 2024, it’s poised to revolutionize the fitness industry.
AI has the potential to profoundly impact how fitness studios are run, by streamlining administrative tasks and taking coaching to another level.
Analytics provided by AI can help studio owners understand member trends and optimize class schedules. AI Chatbots can also handle inquiries and bookings, providing seamless customer service. If you embrace the right tech, you can free up a lot more time in 2024 to focus on growing your studio!
When it comes to working out, AI can be a game-changer. AI can create personalized workout plans for each member based on their fitness levels, goals, and preferences, making the fitness experience more tailored and effective. This ultimately will mean they get the best possible workout at your studio every time — and happy customers are your best advertisement.
However, one thing that’s vital to consider when using AI is what it can’t do! Yes, it’s great for streamlining your business operations and optimizing workout regimens – but don’t lose sight of why your members chose your studio in the first place. They’re here for your reputation, your high-quality services and, most importantly, how you make them feel!
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More user-generated content
Over 80% of people believe UGC helps influence consumer purchasing decisions, compared to content created by brands (13%). As social media continues to play a central role in fitness culture, UGC will be a powerful tool for organic marketing in 2024.
UGC serves as authentic testimonials, showcasing real members’ experiences and success stories. This builds trust and credibility, attracting new clients seeking genuine feedback.
UGC can amplify your studio’s reach, attracting a wider audience through the authentic and relatable content created by your community. And, by fostering this sense of community, more members will share their workout videos, progress photos, or class experiences online.
Does your fitness studio has restrictions on phone and camera use? There are still several ways to leverage user-generated content without compromising the focus of members or violating privacy.
Try these tactics:
- Designated UGC zones: Create specific areas within your fitness studio where members are allowed to take photos or videos. This could be a designated corner with a branded backdrop or signage. Members can use this area for UGC without disturbing others who prefer a camera-free environment.
- Scheduled UGC times: Allocate specific times or classes for user-generated content. For example, during a certain class or workout session, members can be informed that photos or videos are allowed. This way, those who prefer not to be captured on camera can choose alternative sessions.
- Professional photoshoots: Hire professional photographers to capture shots with the consent of willing members. This allows the fitness studio to control the content and maintain a polished image without compromising the privacy of members. It also provides consenting members with cool workout photos to share on their social media platforms!
Embracing and curating UGC in 2024 can transform your fitness studio into a vibrant and dynamic hub, driving growth and loyalty among both existing and prospective members.
Key takeaways heading into 2024
The boutique fitness sector’s emphasis on community experiences and holistic wellness has gained traction worldwide. And, despite obstacles such as high operating costs, the industry is delivering on its promising growth potential.
It’s clear than by staying innovative and adapting to evolving trends like the ones we’ve outlined in this piece; boutique fitness studios can capitalize on the increasing demand for these experiences and continue to grow as businesses.
Remember, as your studio begins to embark on another year, it’s crucial to re-visit your pricing and to embrace innovation, technology, and the power of community.
Keep pushing boundaries, setting new goals, and inspiring those around you to reach their full potential. Here’s to another year of empowering others to prioritize their well-being and embrace a healthier, happier lifestyle!
How ABC Trainerize can help fitness studios thrive in 2024
It’s clear that embracing new tech can unlock so many opportunities for studios in 2024. But, with lots of different options with different capabilities out there, it can be tricky to know where to start.
Thankfully, you don’t have to look any further than ABC Trainerize! Here’s what our platform can do for you in 2024:
- Drive client engagement 24/7 with your very own Custom Branded App.
- Increase your studio’s revenue streams by creating on-demand programs and hybrid training models.
- Improve accountability by giving your members a place to track their progress.
- Save time, fill schedules, and help your staff train their clients seamlessly — no more messy desks and notebooks!
Want to learn more about becoming everyone’s go-to studio? Check out our offerings for studios and gyms today!
