by Matteo Cerruti, group exercise director, Holmes Place Health Clubs
Millennials are the largest generations yet—they’re estimated to be 2.5 billion strong globally and are moving into its prime working and spending years. This generation is shaping the way brands position their products or services to match the way millennials make their buying decision. Companies focused on engaging with them appropriately will differentiate themselves in the market place and forge long-term relationships with these special customers.
Retention remains the largest challenge of the fitness industry and we know that longer tenured members have bottom-line implications in the stability and growth of the fitness facilities. According to the 2016 IHRSA Health Club Consumer Report, millennials view their club membership as a short-term investment mainly due to competing career and/or family obligations, and also because younger adults are often more transient in nature.
Holmes Place Health Clubs—a 90-club business spanning 10 countries in Europe—has several millennial-geared strategies that fitness facilities can implement in their programming to secure lasting relationships, prevent early cancellations, and improve member retention.