Five Commercial Retail Fitness Trends to Watch
In the U.S. there are more than 36,000 health clubs, gyms and fitness centers, and across major markets, they have seen a growth rate of 2.8 percent since 2013. While many predict a continuation of this growth, the future may look a little different than we’ve seen in the past decade. Here are five commercial retail fitness trends to watch.
Non-traditional gym tenants: baby boomers and millennials continue to impact fitness trends however millennials are focused on the future. They are looking for a distinct experience when it comes to fitness. Non-traditional fitness retailers, such as cross-fit, group training, boot camps, yoga studios are gaining popularity. Additionally, we may see other programs that prepare customers for fitness events, like triathlons, Tough Mudder events, fun runs, etc. influencing commercial retail fitness centers.
Aging customer base: As a significant percentage of U.S. population ages, they are turning to rehabilitation and other wellness services to prolong and enhance their quality of life. Commercial fitness retailers may want to consider their location strategy. In the future, we may see more health clubs partnered with mixed-use and lifestyle services, and located near active adult residential communities, hospitals or assisted living facilities.
Hybrid establishments: its not uncommon to find a smoothie bar or a small café where you can purchase a protein bar, located within the fitness center. However, millennials are putting more and more demand on nutritional health and we may begin to see hybrid stores offering energizing and healthy meals. This hybrid concept may help national and regional fitness chains stay relevant to the younger generations who are willing to pay for a one-stop-concept that provides custom classes, fitness training as well as meal planning and dietary support.
Fewer freestanding locations: the retail sector has taken a hit from companies opting for less brick and mortar, or going out of business, landlords of shopping centers are looking to make a deal. Fitness centers and gyms, especially the smaller more boutique shops have been able to take advantage of lower rents. Larger brands who want to expand their footprint may look to retail space with an in-line or anchor space, verses a free-standing space, if it means a significant savings in rent.
Technology: it seems that these days technology is at the helm of every industry and commercial retail fitness is no exception. Millennials have embraced technology that allows them to track their fitness and health goals, with the help of wearable technology like a Fitbit or Apple watch. But what if their personal trainers could access their daily activity logs and provide remote fitness coaching? This concept could be a game-changer for the future of fitness. Older generations could benefit from these types of technology advancements, allowing doctors to monitor their health and physical activities in real time.
For more than forty years, the Knipp name has been helping landlords and investors with their real estate development needs. We invite you to visit us online at www.KnippContracting.com or www.KnippCommerical.com and view our online portfolio.
Whether you are looking to renovate your existing commercial building, or break ground on a new commercial real estate project, our team of experienced experts are ready to help you with all your construction and real estate development needs. We look forward to hearing from you soon!