With the outbreak of covid-19 epidemic in 2020, more people paid attention to the importance of daily exercise for the quality of life, residents’ fitness awareness gradually improved, the demand for home sports and “cloud fitness” was stimulated, and the activity of online fitness app users increased significantly. The broadcast volume of fitness videos soared during the epidemic, prompting all kinds of gyms to speed up the online layout, enhance the viscosity of existing customers and promote the brand effect through live broadcasting, video training, community communication and other forms. The continuous advancement of China’s urbanization process and the continuous increase of urban population have promoted the upgrading of consumption, superimposed the impact of the epidemic, and people pay more and more attention to health. Fitness has become a way and consumption for more and more people to decompress and improve their health. Policies are also helping the development of the fitness industry. For example, the State Council has launched the national fitness plan to provide guidance for deepening sports reform and improving participation in fitness activities; The General Administration of sport of the people’s Republic of China issued the “14th five year plan” for sports development, encouraging the development of “Internet + fitness” and “Internet of things + fitness” models, and optimizing the integration of Wuxi Online Offline Communication Information Technology Co.Ltd(300959) . With the development of the times, people’s fitness methods have also changed. Big data, artificial intelligence and extensive digitization are constantly changing people’s fitness methods, and people’s dependence on online services is gradually increasing. Driven by the improvement of Internet penetration and the digitization of fitness industry, China’s online fitness market has achieved rapid development. Home fitness is gradually becoming an alternative to gym fitness, and people’s demand for online fitness content is increasing. China’s mobile Internet infrastructure is relatively perfect, and mobile phones have been widely used in daily life, which makes it easy for people to obtain online fitness content, further promoting the growth of China’s online fitness population. The fitness community of online fitness platform creates social and interactive space for users and continues to attract fitness people. Online fitness has made great progress with its advantage of “staying at home”. Based on this, this report aims to solve the following two questions: 1) what is online fitness and what is the key difference between online fitness and offline fitness? 2) Why are we still optimistic about the growth trend of online fitness industry?
\u3000\u30001. What is online fitness and what is the key difference between online fitness and offline fitness?
I. online fitness refers to fitness through online content such as fitness app, video and live broadcast, as well as online purchase of fitness equipment, fitness clothing, health food and other related sports products. The key difference from offline fitness is that online fitness provides users with fitness services such as eating, clothing and exercise through network channels, while offline fitness mainly through gym Offline sales of fitness equipment and food provide fitness services for users. With the development of advanced technologies such as big data and artificial intelligence and the digitization of the fitness industry, online fitness has developed rapidly and is gradually becoming an alternative to offline fitness.
\u3000\u3000II. The online fitness market includes online fitness members and fitness content, as well as the income generated by the online sales of intelligent fitness equipment, fitness equipment and clothing, and health food; Accordingly, the offline fitness market includes the income generated from the offline sales of offline fitness members and fitness courses, as well as intelligent fitness equipment, fitness equipment and clothing, and health food. From the above definition of Wuxi Online Offline Communication Information Technology Co.Ltd(300959) fitness market, it can be seen that both include the income generated by the sales of intelligent fitness equipment, fitness equipment, clothing and healthy food. The online fitness market is sold through network channels, while the offline fitness market is sold through offline physical stores; At the same time, the two have their own unique parts: the unique part of the online fitness market is online fitness members and fitness content, mainly including structured courses, video courses, live courses, fitness training plans, etc; The unique part of the offline fitness market is fitness members and fitness courses, mainly referring to fitness members of offline gyms and related fitness courses.
\u3000\u30002. Why are we still optimistic about investment opportunities in the online fitness industry when the growth of traditional Internet traffic has peaked?
I. although the traditional Internet is facing the dilemma of peak traffic growth, there are still large investment opportunities in the online fitness industry from the perspectives of fitness crowd and online fitness crowd penetration, average annual expenditure of fitness crowd, increased fitness Consumption Willingness, obvious online trend of fitness industry and so on. In terms of the penetration rate of fitness crowd and online fitness crowd, in 2021, the penetration rate of Chinese fitness crowd was 21.5%, while that of the United States and Europe were 48.2% and 41.2% respectively. In 2021, the penetration rate of Chinese online fitness crowd was 45.5%, while that of the United States was 67.9%; In terms of the average annual expenditure of fitness people, in 2021, China was 2596 yuan / person, while the United States reached 14268 yuan / person; In terms of fitness consumption intention, according to the Research Report on mass fitness behavior and consumption in 2021, the average annual total consumption of mass fitness in 2021 increased by 35% compared with that in 2020, and the fitness consumption intention was further enhanced; In terms of online fitness industry, according to the data of the 2020 China Sports Industry Summit, more than 75% of China’s fitness population are using online fitness apps, of which more than 90% are following video sports and clock in at home. At the same time, according to the 2021 Research Report on Mass Fitness behavior and consumption, 70% of respondents exercise with the help of sports software app.
\u3000\u3000II. From the above data, China’s online fitness crowd and the average annual expenditure of fitness crowd still have large growth space. Combined with the increasing willingness of people to pay for fitness, the obvious trend of online fitness industry and the catalytic factors such as the government’s continuous introduction of relevant policies to encourage the development of fitness industry, the online fitness market has considerable growth potential in the future.
Risk tip: the decline of macroeconomic growth affects the fitness consumption expenditure, the fitness demand changes from online to offline, the risk of intensified industry competition, and the risk that the information and data used in the research report are not updated in time
