Health and wellness is changing fast. 11 years ago, people were working out 40 minutes per week. Now that’s up to 60 minutes. 50% increase. 30 million people with gym memberships in 2000. 55 million now.
Fitness is a young category. Didn’t become a craze until the 70s with jogging as highlighted in shoe dog. Perception of cigs and Diet Coke has changed too.
Group fitness classes have candles on the alter and somebody talking to you with a pulpit for 45 minutes. The parallels are uncanny. In the 70s and 80s you wore a Star of David or a cross. Now you wear a soul cycle tank. That’s your identity. That’s your religion.
Percent of Americans with “a great deal/quite a lot” of confidence in organized religion has declined 68% since 1975. But people still want guidance, ritual, identification, community, reflection, spirituality, ceremony, and music.
In the 60s, 47% of households had 2 people working. 40 years later 67% of households… 125 billion per year at Costco. 25% is Kirkland white label.
Characteristics of modern brands:
- Guided by a purpose
- Internet culture — not internal structure
- Deliver an experience
- Trust through transparency — not authority
- Progress through iteration
- Create a community
Three companies who integrate both:
- hardware + software = user experience
- brand + retail = direct to consumer
It’s easy to forget how young the fitness category is. It was born during the “jogging craze” in the 1970s.
In 2000, 30 million Americans had gym memberships. Today, that’s up to 55 million. 67% increase. 11 years ago, the top 20% of Americans worked out an average of 40 minutes per week. Today, that’s up to 60 minutes. 50% increase.
The American household is changing too. In the 60s, 47% of households had two people working. Today, that figure is about 67%. America is becoming less religious. Number of Americans with “a great deal/quite a lot” of confidence in organized religion has declined 26% since 1975. The decline of religion has left a void. People still want guidance, ritual, identification, community, reflection, spirituality, ceremony, and music.
For many people, including myself, fitness fills that void. With candles on an alter and somebody talking to you from a pulpit for 45 minutes, group fitness classes feel like a religious experience.
The best modern brands build trust through transparency, create a community, progress through iteration, and are guided by purpose. These are the highlights of this excellent talk by John Foley, the CEO of Peloton at a Recode conference.
Peloton is one of three companies that integrates both:
- hardware + software
- brand + retail
The other two are Apple and Tesla.
Look out for Peloton. And watch the health & wellness space.