With an increasing amount of ‘pop-up’ gym classes, fitness events and wellness retreats, is the future of fitness becoming more about the experience?
A quarter of the UK’s adult population are aged below 35 and research is showing that millennials love live experiences. In fact, more than 3 in 4 millennials (78%) would choose to spend money on an experience or on an event, rather than buying something desirable, and 55% of millennials say they’re spending more on events and live experiences than ever before.
So, what is it about live experiences and fitness events that interests the millennials so much?
Social Media and the ‘Fear of Missing Out’ on Fitness Events
Social media drives motivation for many millennials today, because ‘if you didn’t take a photo and post it online, did it really happen?!’ And what is more snap-friendly than a HIIT class at the top level of the Shard, a disco yoga class in a nightclub, or the chance to grab a selfie with your favourite athlete? The opportunity to document your fitness experience online has a huge appeal to millennials.
The Harris Poll found that factors such as a craving for recognition (for example, how many likes someone gets on their Instagram post), and a “fear of missing out” (FOMO) help drive millennials’ cravings for experiences. As social media platforms continue to grow, so does the FOMO. As you scroll through your social media feed, seeing events you missed out on or not getting that all-important ‘tag’ in a friend’s Instagram post or story matters much more than it would have done 5 years ago.
Millennials will engage with events that are particularly relevant to what is ‘on trend’ at the time or with experiences that reflect their personality. Consequently, it is crucial for fitness and nutrition business owners to understand what they are interested in at any given time. This is also where the importance of influencer marketing comes in. If you find the right ambassadors then you will reach the audience that also share those same interests – an ideal marketing tool for your brand. If you think you could use some help in finding those ideal ambassadors then feel free to get in touch.
“Many millennials have less disposable income than previous generations at the moment and this is making them all the more precious about how they spend their money. Satisfaction comes from spending it on experiences with other people and this economy is booming.”
Read more research from the article here.
Are Fitness Events the Future?
Events and experiences offer more than purely just a workout – they cannot be replicated in your day to day life. Millennials are looking for something memorable, possibly something they have never experienced before and are constantly on the look-out for the newest food and fitness crazes to document online.
Research shows that prioritising experiences over materialistic goods when it comes to spending money is a good thing, in theory. Experiences which you can connect to emotionally lead to higher levels of satisfaction, positive mental health and happiness than if we were to prioritise possessions. However, this does assume that these experiences are being embraced fully (rather than purely for social media!)
In summary, if your health, fitness or wellness brand isn’t branching out to offer extra experiences or live events then you could be missing out on marketing to the millennials! Consider where your brand could position itself in the fitness event market and set up a smaller-scale event as a trial – if it works, aim to increase the size and attendance the following year and watch your brand evolve!
Some of the Latest Fitness Events to Attend:
London Jungle Runners – Woodland runs with wireless headphones – a silent disco!
Disco Yoga – Pile on the glitter and shine like a glitter ball!
AyoJam – Afro-Carribean dance fitness phenomenon coming to the UK for a limited time only
Love Fit Festival – The ultimate summer wellness festival
The full research survey can be downloaded from the Technogym website here.