Mindbody and Classpass 2024 Predictions Report advises that wellness is a top priority for global consumers
Exciting opportunities lie ahead for the fitness and wellness industry to grow, presenting new ways for brands to innovate and grow.
As reported by the newly released second annual Mindbody + Classpass 2024 Predictions Report, consumers now consider health, fitness and wellness to be an essential area for spending and that expenditure on these services and outcomes will continue to grow despite the global squeeze on disposable incomes.
The report charts consumer sentiment and outlines views from industry leaders regarding the wellness trends to expect in 2024, predicting six key trends for the year ahead are:
- Strength training will retain its popularity
- Beauty and wellness community events will become increasingly popular
- Consumers will expect science-based, performance-proven products and services
- The importance of sleep hygiene will continue to grow
- Consumers will combine temperature therapies
- Older adults and boomers will head to fitness facilities in greater numbers
The Mindbody + Classpass 2024 Predictions Report also compiles findings from a number of industry reports published over the past 12 months.
These include The Accenture Consumer Pulse Survey 2022, which analysed responses from 11,000 consumers in 16 countries, revealing that despite two-thirds (66%) of survey respondents saying they felt squeezed financially, 80% intended to maintain or increase their spend on areas related to health and fitness.
In relation to the prediction that "boomers will go boutique", the report says "in the coming years, we predict a growing number of boutique fitness offerings designed specifically for this vibrant age group.
"More than half of baby boomers say they prioritise wellness now more than ever and over a third see strength training as more important than other wellness activities."
This view was endorsed by Leah Seacrest, Vice President of Operations at USA-based franchised studio operator Regymen Fitness, who advised “there was a time when those aged 55+ might’ve been considered in the sunset stage of their life.
"But now they’re active, and want to continue to be active. They want quality of life, and they know exercise is part of that."
Rachelle Reed, Chief Health and Science Officer, at USA-based SWEATHOUZ added “more and more, consumers are looking for preventive wellness strategies that not only have short-term benefits but also long-term benefits.”
Click here to view the Mindbody + Classpass 2024 Predictions Report.
Related Articles
28th August 2023 - Premier Fitness Supply launches wholesale gym equipment partner program
24th August 2023 - Accor and Peloton partner to incentivise health and fitness for guests travelling in Australia
16th August 2023 - Wexer partners with the MELT Method to expand its wellness solutions offerings
9th August 2023 - Jetts Fitness named second in ‘Best Places to Work in Australia’
1st August 2023 - Overwhelming response for HYROX Australian fitness competition
28th July 2023 - Life Fitness announces new Chief Executive appointment
19th July 2023 - Walking, swimming and fitness centre training are the most popular activities Australians do regularly
19th July 2023 - China’s biggest online fitness platform Keep Inc begins trading in Hong Kong
27th June 2023 - Australian wellness franchise City Cave launches first USA location
14th July 2023 - New ARV COVID-19 recovery report charts upward trend in post pandemic facility attendances
6th July 2023 - AUSactive invites industry input in predicting hottest fitness trends for 2024
24th June 2023 - Qatar’s Global Wellness Summit secures sustainable tourism advocate as keynote speaker
20th June 2023 - Les Mills among World Wellness Weekend participating organisations
1st June 2023 - Installation of innovative Myrtha System now 40% complete at Palmerston’s Swimming and Wellness Hub
12th May 2023 - Fluition to launch transformative wellness retreats
4th April 2023 - Court orders Mindbody founder Rick Stollmeyer to pay US$48 million over breach of duties to shareholders
3rd February 2023 - Global Wellness Summit report identifies 12 Wellness Trends for 2023
14th January 2023 - Les Mills identifies three key fitness trends set to shape 2023
2nd January 2023 - ACSM predicts wearable technology as the top fitness trend for 2023
9th December 2022 - ClassPass and Mindbody look back at fitness and wellness trends for 2022
28th July 2022 - Mindbody and ClassPass Mid-Year Wellness Trends Report explains a changing business landscape
6th April 2022 - Mindbody launches Mindbody Capital to help fuel recovery of the wellness industry
23rd March 2022 - Mindbody reveals global agreement to back boutique fitness chain TRIB3
21st February 2022 - ClassPass champions a selection of Australian innovative and inspiring fitness and wellness studios
14th October 2021 - Mindbody to acquire ClassPass and announces $500 million strategic investment
14th January 2020 - ClassPass secures further US$70 million investment