Fit Summit speakers share their insights into Asia’s fitness industry

Rich Hutson

It’s a very exciting time to be in Asia as there’s still considerable growth to come from within the fitness industry.

I think the boutique sector and big box budget clubs will see the biggest growth as they have the greatest opportunity. The budget clubs should make fitness more affordable to some of the lower income sectors and increase the penetration rates across Asia. Penetration rates are considerably higher in Australia, Europe and North America, and I don’t ever see Asia coming close to those numbers until more affordable options are available for lower income sectors.

Anabel Chew

In some Asian cities like Singapore, Hong Kong and Bangkok, there is a significant fitness footprint and boutique fitness is thriving and growing immensely. The entry of ClassPass into Asia has also fuelled the growth, awareness and demand for fitness and wellness classes.

There is much more opportunity in other cities around Asia, as people become more aware of the importance to live an active lifestyle. I think the quality of classes in Asia are levelling up very quickly, and I wouldn’t be surprised if the standards will match or even surpass fitness studios and gyms in the US, UK and Australia.

Simon Flint

While it’s highly fragmented, the fitness industry in Asia is still attracting a number of new startups, hobbyists and franchisees, due to the relatively low barriers to entry for a small box outfit.

It’s my personal view that there is sometimes an under-appreciation for the complexities around the health club industry and what it takes to be successful over the long term, and this can be evidenced in a number of outlet closures alongside an increasing number of openings.

On the positive side, there’s an ever-increasing interest in the consumer mind around health and longevity. On top of that, regional governments are becoming more aware of the importance of intervening in sedentary lifestyles.

Shan Ms

Gym penetration in India is very low. The Indian fitness market is very small compared to other global markets but is growing very fast thanks to increased awareness, disposable incomes and better supply of gyms. Developing markets in Asia will behave similarly to what we are seeing in India, but markets like Singapore, Japan and Korea are different – they’re at very advanced stages.

It’s a very price-sensitive market and consumers are value-conscious. One needs to enhance the value and make it more compelling for the user. With a compelling product, the right business model and good marketing, the market can grow.

In India, it’s about market creation – copying globally successful models won’t work. One needs to innovate heavily to reach the under-penetrated market.

Jack Thomas

The fitness industry in Thailand is a few years behind cities like London and New York, of course. But concepts are coming here quicker now than they used to. Where something that’s popular in America might have taken five or six years to hit Asia in the past, now it’s more like one or two years.

We’ve definitely seen an explosion in boutiques in the last few years. But in Singapore and Thailand it feels like that’s levelled out for now. I think some boutique operators are realising that it’s not an easy path to riches. Even though health and fitness is booming, it doesn’t mean you can just set up a business and it will automatically be successful. I think we’ll see some consolidation over the next few years. There’ll be a few players that will join forces.

Gita Sjahrir

The big issue right now in Asia is that studios are so competitive with each other. And that’s stupid. If you’re in the boutique fitness industry, you’re attracting a certain demographic. So why are we competing with each other, trying to bite off little pieces of the same pie, when we can just work together to grow the pie? It’s better to be part of an industry where there are lots of great players.

• To defragment the industry in Asia and be a catalyst for collaboration, knowledge sharing and growth.
• To facilitate new investment into the Asia industry.
• To help the industry optimally deliver innovative services, solutions and products into the marketplace.
• To partner companies to ensure their employees are benefiting from new breakthroughs in health, fitness and wellness.
• To assist government ministries and agencies to promote new health, fitness and wellness initiatives.
• To promote Asia as a hub for health, fitness and wellness and a new global centre of excellence and innovation.

This thought leadership and business development conference will take place on 25 September at the Mira Hotel, Hong Kong.

The event has been designed so owners, managers and investors in health, fitness and wellness brands can meet and do business.

On the agenda will be fitness, wellness and corporate wellness trends, investments, products, technology, market innovations, engagement strategies and partnerships. www.thefitsummit.com/events/asia

FIT Summit is the thought leadership and networking platform for Asia-Pacific’s health, fitness and wellness industry.

Its network includes multinational gyms, franchisees, boutiques and start-ups, apparel, equipment, nutrition and technology providers, sporting events, insurers, investment firms, consultancy groups, government bodies and corporate wellness.

www.thefitsummit.com

This conference, which will be held at the Alila Seminyak on 28 November 2019, will focus on the business of wellness, looking at retreats, fitness, wellness and spa facilities, business trends, international investment, consumer demand, technology, wellness tourism, and market innovation.

The event will include keynote presentations, panel discussions, interactive Q&As, a sunset cocktail reception and a second day of optional wellness activities, such as yoga, meditation, mindfulness and fitness classes.

The event will welcome 225 executives, 100 companies and will feature 25 Speakers.

www.thefitsummit.com/events/bali