High income earners left gyms during the pandemic and haven’t returned
Download the full report: Comparing Gym Performance with Foot Traffic and Credit Card Transaction Data.
Under $40k earners are the most recovered group in terms of gym membership spending compared to 1Q19, -9%. Across the same cohort of national gyms, middle income earners ($40k-$100k) are spending 16% less on gym memberships than pre-pandemic. Over $100k earners are spending about 22% less in the same period. This suggests that higher income earners’ exercise habits changed the most during the pandemic.
This underperformance among high income earners could be explained by the rise in high-priced at-home fitness brands like Mirror and Peloton that put users on subscription plans after purchasing expensive equipment. Others may have simply purchased non-subscription equipment, like free weights, that makes a trip to the gym less relevant.
Download the full report, Comparing Gym Performance with Foot Traffic and Credit Card Transaction Data, to see which gyms are winning post pandemic and post New Years Resolution season.
