Bulletin

Tech companies help gyms limber up for reform

mobile

With the UK economy returning to growth, the keep-fit industry is keen to tap into additional consumer spending. But consumers are now demanding either cheaper options or fun specialist workouts, challenging the models offered by traditional gyms such as Virgin Active and LA Fitness, which sign members up on long-term contracts to single clubs. According to researcher Mintel, some 32% of gym users in the UK prefer to pay per visit, while 39% would like to pay a flat annual fee and 22% want to pay only for the facilities they use. But the internet and social media are now helping consumers to become better informed, and new businesses are acting as middlemen, linking users with a range of small studios. Homegrown start-ups such as Payasugym allow consumers to buy shorter-term entry to studios around London at steep discounts, while passes to some of the UK's biggest gyms regularly feature on Groupon. 'There is so much happening around the gym industry,' says Fitness First's Mark Hutcheon. 'It's forcing the gym sector and the owners in it to radically change the model.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

Other Articles

GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin
GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin

Where Next?