Welcome to the Gym (pronounced Jim)!
2021 Revenue Gyms & Fitness Centres UK. (Stalker, F. 2023)
It is important to grasp the current gym/ fitness industry situation in the UK. Since 2011, the annual revenue for this industry had been steadily increasing, up until it was stumped by the Covid 19 virus in 2020. The pandemic unfortunately forced gyms to close and the revenue dropped by just over a billion pounds - from £2.5 billion (2021) down to £1.4 billion (2022) (Stalker, F. 2023). The forced closures allowed for an implementation of stay at home directives which caused a steep increase of sales for at home workout and fitness equipment. Total gym equipment sales increased by an astonishing 1000% and even more impressive, exercise bikes saw an astounding 2000% increase to sales (Stalker, F. 2023). Gough believes this rise to be the result of individuals seeking a way to maintain and improve their physical and mental health while being stuck at home.
Even though there was an extraordinary increase in at home equipment sales, the gym industry has bounced back. Since re-opening to the public, gyms have maintained and improved a strong client base across the UK. With IBISWorld predicting an annual revenue of £2.5 billion by 2029.
References
Statista & Gough, C. (2021). Increase
in sales of home gym equipment in the United Kingdom (UK) in 2020, by
category.
Stalker, F. (2023) Gyms &
Fitness Centres in the UK. London: IBISWorld. Available at: https://my.ibisworld.com/uk/en/industry/r93.130/at-a-glance
(Accessed: 02/10/23).
Polyakova, O & Ramchandani, G (2020). Perceived service quality among regular users of gyms
in public sports centres in the UK. Available
at: https://doi.org/10.1080/23750472.2020.1853594
(Accessed: 02/10/23).
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