Our In-Studio Predictions For 2024
As fitness and wellness consultants, we always have our ear to the ground, or our foot in the pedal, on the mat or even on the barre. Many of us on the team also teach yoga, Pilates and bootcamp classes. All of this is to say that when we sit down to assess the trends we see coming in 2024, we take it very seriously.
Our biggest prediction for 2024 is that expenditures for wellness will continue to rise. According to the Global Wellness Institute, expenditures on wellness are positively correlated with happiness. We see the wellness world moving beyond brick-and-mortar spaces and increasing drastically in the workplace as well as in real estate. (Think Canyon Ranch amenities in your local neighborhood. Can you imagine? đ)
In the studio, these are the predictions we see:
Strength Training Takes a Front Seat
No longer just an âoff-dayâ activity, consumers are wanting to make strength exercise a part of their daily routine. According to the Mindbody Predictions Report, 60% of consumers currently incorporate weight or strength training into their routine. We see this number continuing to rise. Be mindful, however, clients are not wanting to beat their bodies up. They want sustainable, strength options that will help them move well, age well and feel great.
The Importance of Recovery
Your clients are finding ways to recover in-between sessions and are looking for tools to manage their whole-body health. Think cold plunges, sauna, float therapy and assisted stretching modalities. These offerings are a bonus for studios that can accommodate the extra equipment; if you're limited in space, get creative. Seek out partnerships that will allow you to deliver these experiences even if it's on a pop-up basis.
The Culture Equation
Your clients are coming to you to not only exercise, workout or practice, they are also joining group classes to build connection. We see 2024 pushing this even further, so be advise bringing in opportunities for community-building throughout the day. This means not just focusing on events, but also ensuring you've created an inviting space for clients to mingle before/after class, and building in time in the schedule for them to do so.
Consider the Generations
We predict a huge rise in Boomer attendance as well as Gen Z and Millennials. Boomers are looking for ways to age well, and group fitness provides them with not only the tools but also a built-in support network. For this demographic, we recommend focusing on workshops and the nurture sequence during the intro period to get clients engaged and involved in your various offerings.
Gen Z and Millennials now make up 80% of health club members (Les Mills). What are they looking for? They want curated experiencesâthink: spin classes followed by a cold plunge, meditation workshops. They are looking for more than a workoutâthey are joining studios to address their physical, mental and emotional needs. And finally, they want to be rewarded; be sure that you have your milestone visits and rewards in place!
Flexibility is Paramount
And we mean this in more ways than one. Your clients are looking for flexibility classes and are choosing experiences that either deliver stretching classes as a stand-alone, or bring specific stretching/flexibility into their other modalities. Clients also want to be able to have a flexible schedule and we're finding that most studios are seeing their largest growth in the more limited memberships, i.e. the 6x/month membership.
So much more is to come in 2024. Our number one piece of advice for studio owners is to take a moment to return to your vision. How can you incorporate these needs while staying true to your ethos?
Telomere Consulting provides business consulting and marketing services to studio owners in the boutique fitness and yoga space. The Telomere team helps you navigate business strategy from conception to implementation. We provide end-to-end marketing support and would love to hear from you. Click here to book your free intro call. We want you to treat your business the way you treat your body â making the right choices now to optimize its potential for a long and healthy life. Visit us here to learn more.
