How To Get Ahead of the Competition In A Growing Fitness Industry
It’s no secret that health & fitness is the hot growth industry to capitalize on these days. With countless food companies churning out healthier alternatives, clothing companies all about ‘athleisure’, and small business owners opening trend-forward boutique gyms and studios at breakneck pace, consumers have more options at their fingertips than ever before.
While this is a win-win for many, the industry boom also translates to increased competition and price slashing for studio/gym owners, often necessary to bring in and retain clientele. In addition, options like ClassPass are making customer loyalty an even bigger challenge. So, in today’s fitness climate, is it possible to drive sales and increase retention at the same time? The answer is yes…if you do it the right way.
Let’s take brands like SoulCycle and Barry’s Bootcamp, for example. These wildly successful businesses create incremental revenue streams by renting out spin shoes (required for class) or offering premium smoothies you can order pre-class (and have waiting for you when you walk out). These value-added models directly drive sales that can lead to up to a 20 percent sales lift for each client visit, while simultaneously enhancing customer experience and differentiating themselves from the competition, both critical to retention.
While not every studio/gym owner can build a smoothie bar or offer state-of-the-art facilities, one simple add-on to increase sales and enhance experience is to carry personal care items, like body wipes. Sweaty workouts that don’t come with an on-site shower option can drive customers away. ShowerPill Body Wipes are an easy solution, especially since they retail around $2 per each individually wrapped, extra-thick wipe. So if you’re charging $20 a class, you’re looking at an incremental 10 percent increase in sales for each client visit when they purchase a wipe. Now that sounds like a win-win.
Like they say, you only get one chance to make a first impression. So why not set yourself apart from the competition with the little touches that customers remember…and keep them coming back for more?