A report from consulting firm McKinsey shows that health and fitness have increased in importance for most consumers. According to the firm, COVID-19 has and continues to impact the importance of this trend in 2022.
The data suggests that whilst the market is growing, it is still essential for operators to continue to innovate. The Global Wellness Institute forecasts the global wellness economy, including fitness, to reach nearly US$7trn in value by 2025.
Despite online fitness ranking highly in sports and fitness trends, bricks and mortar fitness businesses are here to stay, predicts Eric Falardeau, a partner in McKinsey’s Montreal office.
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