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Paul Rabil avatar
Paul Rabil
Happy short week. More WFH...and I’m about to tell you why to keep betting on at-home fitness and tech... Athletes continue to virtually train and the WFH community will bike and use fitness apps well into 2021 and beyond. One of the PLL’s corporate partners is Gatorade. As part of their Super Bowl virtual campaign, they’re working with fitness subscription co’s to share in a fun, at-home experience with their partners. And it’s not just Gatorade. A strong gymco B2B sales strategy has always been paved on the ground with small and large businesses wanting to be additive to their employees health/wellness culture — in 2019 pre-pandemic, 84% of large employers offered workplace wellness programs like gym reimbursements. Since the pandemic, the employee benefit has shifted to virtual — and not just with Peloton and Apple products. Equinox, ClassPass and Gympass are all joining the party. Major co’s like Estée Lauder, JPM, and PayPal have signed up for digital fitness benefits for their employees. According to TD Ameritrade, 59% of Americans said they weren’t planning to renew their gym membership once the pandemic ends. Damn. The wave of virtual fitness began to flourish in 2019 — though still considered largely a D2C business. As of Jan 2021, however, 10% of total sales have shifted D2B. More? Global Market Insights predict the virtual workout industry to go from $5B in 2019 to $30B by 2026 🤯 off the press and 14 months in the making, Google announced it has officially completed its $2.1B acquisition of Fitbit. Bet: $PTON Tech: $AAPL $GOOGL Oppty stock: $NLS Maybe not: $PLNT 📲💪🏋️‍♂️💰
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