ASIA-PACIFIC'S LEADING BUSINESS NETWORK AND ECOSYSTEM FOR HEALTH, FITNESS & WELLNESS
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State of APAC Industry
Presentation to
Ross Campbell
ASIA-PACIFIC’S LEADING Founder & CEO
BUSINESS NETWORK AND FIT Summit
ECOSYSTEM FOR HEALTH, 12 April 2021
FITNESS & WELLNESS
w w w . t h e f i twww.thefitsummit.com
summit.com The health, fitness and wellness network in Asia-Pacific. / 1
ABOUT THE AUTHOR – ROSS CAMPBELL
01 Corporate Entrepreneur – Co-Founder and CEO, Energy Council – world’s largest business network
for oil, gas and energy. Successful exit post Asia expansion. Career epiphany.
02 Co-Founder and Managing Director, The Jungle – a MMA and HIIT focused studio in Singapore’s
CBD (mixture of group exercise, PT and small group training).
Ambassador, lululemon – working with them on business engagement and community outreach in
03 Singapore.
04 Founder and CEO, FIT Summit – the business network for fitness, wellness, corporate wellness
and hospitality (mainly focused on Asia-Pacific).
05 Co-Founder and Secretary, Singapore Fitness Alliance (SFA) – a non-profit industry association
that represents Singapore’s fitness and wellness industry.
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 2
THE BIG PICTURE
THE BIG PICTURE – GLOBAL MACRO THEMES
01 + signs of rebound recovery, with pent up demand and a more health conscious consumer, but speed &
scale of rebound is dependent upon a trilogy of government (promotion), consumer & industry confidence
02 Hybridisation = Omni-Channel = Phygital – huge leaps in consumer education, awareness and
adoption of virtual, coupled with accelerated industry innovation and investment – but real ROI?
Growing positive investor sentiment in the long-term future of our industry – evident by recent
03 share price performance, acquisitions, and capital raises (PE, VC, strategics, public funds)
04 Huge drive towards greater collaboration, knowledge sharing, alliance creations, advocacy and
government lobbying – however to mixed effect and is for many a long-term play – role post COVID?
05 Brand culture/affinity and community engagement have never been more important for customer
retention and engagement, and inevitably soon for talent recruitment in a talent drained market
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 4
BIG BOX CLUBS
BIG BOX CLUBS – BIG LOSSES TO BIG WINS?
01 Postponement of short-term and mid-term bricks and mortar projects (recalibration of cost structures,
break-even projections, CBD sites and prioritization of capital deployment)
02 Focus on short-term survival, member retention post membership freeze, new revenue streams
and rebuilding cash reserves once reopened
Reconfiguration of large spaces to meet new operating environment – possible divestments, or,
03 sub-letting of excessive real estate
04 Considerable investment into digital and technology (member engagement, experience and
retention), as well as new holistic, omni-channel offerings – stay still and die
05 Considerable investment to streamline costs (expenditure, structures, processes, headcount) and
future proof business from future black swan events – requiring new mindsets and innovation
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 6
FRANCHISE
F R A N C H I S E – M A R K E T O U T L O O K & A N A LY S I S
01 Most major franchise groups have now adopted and continue to invest in virtual (and thus hybrid)
offerings and platforms
02 In reopened markets – franchise sales and franchise member sales have been very encouraging.
Franchisor confidence also now greater than pre-COVID
In closed/depressed markets – many franchisees are now in distress, landlord and rent
03 dependent, and emotionally and/or financially depleted. Continued closures and sales expected.
Comprehensive franchise support systems, structures and groups, have never been more
04 important to the franchisor and the franchisee – sounds obvious right??
05 Australia and Singapore continue to be staging points for international business expansion into
and across the APAC region – competition will ramp up in 2021 and again in 2022
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 8
F R A N C H I S E – G R O W I N G A PA C C O M P E T I T I V E L A N D S C A P E
Traditional Players APAC Players Expanding Int. Int. Players Expanding
ANYTIME FITNESS 12RND/UBX GOFIT BARRY’S
F45 BARRE BODY JETTS CLUB PILATES
GOLD’S GYM BELIEVE FITNESS KX PILATES PHYSIQUE57
ORANGETHEORY BODY FIT TRAINING PLUS FITNESS PLANET FITNESS
SNAP FITNESS FIRE FITNESS SPARTANS BOXING PURE GYM
UFC GYM FITSTOP XTEND BARRE TAPOUT
WORLD GYM GENESIS ZADI TRAINING TRIB3
+ StretchLab
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 9VIRTUAL FITNESS
T H E R A C E F O R V I R T U A L D O M I N AT I O N ( H O M E & AWAY )
01 The question is not, should I go virtual, but, how much do I need to invest, especially given my
member base and location (but what can we learn from US vs AUS/NZ) – content remains king!
02 Most manufacturers and solutions providers are building out new consumer and operator features
(LF, Technogym, Freemotion, Myzone, Merrithew, MYX) – content library depth?? Asian??
Streaming platforms (Uscreen,Intelivideo, SALUT, Trainerize) emerge alongside growing ever
03 content platforms (Wexer, Les Mills OD, Forte, R Fitness, Wellness Solutions, Apple +, FoD, Obe)
04 Mindbody, ClassPass, Virtugym, Gympass and other large techcos now building out capability to
promote and host virtual fitness and wellness classes by operators and content providers
05 The race for at-home connected fitness has begun in APAC: Keep and FITURE in CN, Peloton to AUS
in H2 2021 / Vitruvian launching / KARA Fitness / Expect Tonal, Mirror, Zwift, Hydrow & Tempo to move
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 11APPS, PLATFORMS, TECH
T H E F U T U R E O F A P P S , P L AT F O R M S & T E C H N O L O G Y
01 We are in playing in an ecosystem of apps, platforms and technologies that span multiple mediums,
sectors, demographics and geographies
02 Wearables becoming holistic platforms complimented by hyper-personalized content – Whoop,
Apple Watch, Google (Fitbit), Myzone, Oura, Polar, Garmin
Adoption and main stream use of digital health platforms and physical assessment technologies
03 (Evolt, InBody, Tanita, MyfiziQ, Prenetics)
04 Artificial Intelligence (AI) based platforms now gaining momentum and track record success –
Keepme, Aaptiv, Healthifyme, Freeletics, FitnessAI
05 Augmented Reality (AR) and Virtual Reality (VR) businesses being created but not yet scaled and
still experimental, i.e. HOLOFIT by FIT-VR, but still far away from mainstream adoption
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 13T H E F U T U R E O F A P P S , P L AT F O R M S & T E C H N O L O G Y www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 14
COMPETITIVE LANDSCAPE
W H O I S W H E R E I N T H E A PA C M A R K E T ?
01 TECHNOGYM – Growing APAC team. New Product Education and Training Exec in SG. Retail store
launch in BKK. Shares regained most pre-covid value. Poor distributors in Asia.
02 MATRIX – Strong APAC Team. Growing reputation. Strong performance in other business areas in
2020, massage chairs (Synca). Shares trading well on TPE. Cardio and group push. iFIT partnership.
PRECOR – APAC Mgmt still US based. Incredible focus on Peloton acquisition, completed 1 April.
03 Post deal integration still unsure. R&D into non-bike areas? Expect wave of activity soon.
04 CORE H&F – Hiring of Dan Codling. APAC Mgmt still US based. Strong performance in other areas in
2020 (MYX). Little/no exposure outside of commercial (hosp/spa/corp). Schwinn is key. New X & Z bikes
05 FREEMOTION – Renewed focus on APAC and ME. Launch of iFit – big push. Hiring of Jeff
Esswein. Unique content generation. Possible IPO of ICON H&F (Nordic Track doing well)
OTHERS – eGym, gym80, Vitruvian, Intenza
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 16APPS, PLATFORMS,
COMING TECH
TO YOU NOWL E T ’ S L O O K AT T H E C RY S TA L B A L L
01 Mindfulness, mediation and mental wellbeing – an almost unlimited number of programmes,
technologies and offerings to be developed, especially in the b2b and employee wellbeing space
02 Rapid adoption and commercial usage of rest and recovery technologies (Therabody, Hyperice,
Hydromassage, Cryotech) and services to continue across health, sports, spa and fitness
The rebuilding of the boutique and independent market – decimated by the pandemic. Those that
03 have survived: some best-in-class and future proof, some walking dead – communities wins big
04 The recovery of the big box players to produce new product lines that access new markets (box in
box, small box and mid box formats), as well as virtual only and hybrid, holistic offerings
05 Continued investment, deal flow and divestments as new players from different industries enter
the wider market with capital, ambition, data scientists and new ideas
BIGGEST WINNERS = HEALTH INDUSTRY & FRANCHISES
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 18Ross Campbell
Founder and CEO
ross@thefitsummit.com
t: +65 8268 9834
Saraniya (Sara) Dhurga
Head, Events and Content
sara@thefitsummit.com
t: +65 9380 3864
Jolin Ma
Head, Partnerships
jolin@thefitsummit.com
t: +65 9170 7665
Daylin Limonte
Head, Marketing & Communications
day@thefitsummit.com
t: +65 8132 7534
P R O U D LY W O R K I N G Blair Campbell
Head, Industry Development
WITH YOU, FOR YOU (Fitness/Wellness/Hospitality)
blair@thefitsummit.com
t: +62 82145273519
L to R: Blair, Jolin, Sara, Daylin, Ross
www.thefitsummit.com The health, fitness and wellness network in Asia-Pacific. / 19You can also read
