The Data Is in, 2024 Is Shaping up to Be the Year of Failed Fitness Resolutions

It’s February 2024, and it’s time we took stock of those New Year’s fitness resolutions. To do this, Facteus, a leader in credit card transactions and alternative data, crunched the numbers and provided insights into the evolving patterns of fitness. As a whole, the data shows that the fitness industry faces a significant transformation, marked by changing consumer trends and shifting preferences. Facteus examined transactional data from 14 notable gyms, fitness services, and streaming services, including: 

• 24 Hour Fitness
• Alo Moves
• Anytime Fitness
• Blink Fitness
• ClassPass
• Club Pilates
• DownDog App
• F45 Training
• Future Fitness
• LA Fitness
• Peloton
• Planet Fitness
• Pure Barre
• Zumba Fitness

Several intriguing findings emerged from the data, shedding light on shifting consumer behaviors and preferences. Notable among these findings are:

• Gen Z’s Decline in Gym Spending: Gen Z has shown a decreased spending trend in 2024 compared to previous years. In contrast, other age groups have increased their gym expenditures, suggesting a generational shift in fitness habits.
• Downtrend in New Year Gym Memberships: Over the past three years, there has been a significant decline in New Year gym memberships, indicating a possible shift in the traditional peak season for fitness resolutions.
• Planet Fitness and its Steep Decline: Among the 14 tracked companies, Planet Fitness has experienced a staggering 79% drop in spending from 2022 levels, a clear indicator of changing consumer preferences.
• Pure Barre and Future Fitness Bucking the Trend: Interestingly, Pure Barre and Future Fitness stand out as the only entities among the tracked companies to witness an increase in spending.

Next, they looked at the Year-Over-Year spending. The data for 2023 and 2024 was indexed to 2022 levels and revealed telling trends across various fitness businesses:

• 24 Hour Fitness saw a 17% increase in 2023 but then a 24% decrease in 2024.
• Alo Moves experienced consistent declines, with -26% in 2023 and -29% in 2024.
• Anytime Fitness, Blink Fitness, and Club Pilates all faced significant decreases over the two years.
• ClassPass, however, saw a notable increase of 90% in 2023, though it slowed to 25% in 2024.
• DownDog App remained stable in 2023 but then fell by 18% in 2024.
• Future Fitness showed a positive trend, with increases of 26% and 36% in 2023 and 2024, respectively.
• LA Fitness and Peloton saw declines in both years.
• Pure Barre’s turnaround has been remarkable, recovering from a 71% decline in 2023 to an 8% increase in 2024.
• Zumba Fitness faced steady declines.

Overall, the total fitness businesses examined experienced a 10% decline in 2023 and a further 19% in 2024.

Facteus’ data has unveiled a multifaceted view of the fitness industry, suggesting a nuanced narrative. The observed decline in gym memberships, notably during the New Year rush, hints at a potential pivot towards adaptable, home-based, or specialized fitness regimens. The flourishing performance of providers such as Pure Barre and Future Fitness underscores a burgeoning preference for tailored fitness experiences.

Moreover, the divergent trajectories observed between Gen Z and other demographics imply a potential generational recalibration of fitness and health attitudes. Gen Z’s diminished spending could stem from a broader spectrum of fitness alternatives, including digital and home-based workout options, which evade traditional gym expenditure metrics.

The fitness industry in 2024 is navigating through a period of transformation. The data indicated that flexibility and innovation may be key to thriving in this new fitness landscape, and businesses must adapt to these changing trends, focusing on diversified offerings and personalized experiences to meet the evolving demands of a diverse consumer base.