In this episode, we discuss why the active aging (50+ age group) market provides the greatest opportunity for fitness businesses.
Matt has pulled some really good data we discuss. We talk about what the metrics, the economic metrics, are showing us.
We also talk about what our personal experience has been with this crowd. We've been here 28 years and we've seen some real traction with this particular population for lots of different reasons.
Forget about fitness. Like if you're in any business, you can't ignore the fact that this group has the most money and they are growing in numbers and people are living to be quite a bit older because of medication and other things. You're going to see this population continue to grow and they're going to want to stay active.
This 50 plus market indeed makes for a massive opportunity - We're really good at it and we're really good at scaling it.
Why should people look at active aging? What's the future of this market? Is it as boring as people think? Stay tuned to find out.
Key Points of Discussion:
- Group training more scalable than one-on-one servicing (5:52)
- There are more than 75 million people in the 50+ group right now (6:23)
- People learning you lose a significant amount of muscle after you turn 30 (8:09)
- They want to be able to go snow skiing and do all these things (8:09)
- You have to be more technical to train someone who’s over 50 (9:30)
- I find this age bracket more compelling than I do “only” six-pack abs (10:25)
- This group has got these tangible goals, like: “I want to move better.” (13:04)
- 70% of the disposable income and only 5-10% of marketing dollars there! (13:31)
- 80% of all savings alone are in this group (15:04)
- Believe it or not, they spend more time than millennials online (15:23)
- They spend $7 billion online a year (16:33)
- Older clients are going to stay longer and pay more (21:09)
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Additional Resources:
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