New Years resolutions are in full swing, but it remains to be seen whether consumers are willing to sign up for gym memberships amidst the Omicron spread.
Consumers’ fears of getting infected and potential mask mandates could squeeze major chains like Planet Fitness, Equinox, Soul Cycle, Life Time Fitness and 24 Hour Fitness, according to a report.
The industry took a huge hit during the pandemic when some 9,100 gyms — or nearly a quarter of the industry — closed for good and gym usage declined by 50 percent, according to an Axios report.
Several large brands filed for bankruptcy since the pandemic began, including Gold’s Gym, 24 Hour Fitness, and Town Sports International (which includes New York Sports Clubs), while Flywheel liquidated and closed all of its studios.
Consumers turned to at-home workouts and equipment over the past couple of years and could easily revert to those options if government regulations impose mask mandates as California already has through Jan. 15.
The new rule, however, allows for an exception at gyms “if a mask cannot be worn due to heavy exertion.”
But consumers were only recently getting back into shape at gyms, according to data from from Placer.ai, showing that visits to gyms had nudged back up into positive territory in November and December when members increased their visits by 1 percent in each month over the same period in 2019.
At the time Planet Fitness chief executive Christopher Rondeau said: “The business is performing extremely well,” and that he expected the “New Year to be pretty spectacular.”
That was on Nov. 4, about a month before Omicron arrived in the US.
Planet Fitness did not immediately respond for comment.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
