Prognosis
Gyms Face Tough Year as Key January Growth Screeches to Halt
- Foot traffic at 10 big US chains was flat versus last January
- Gyms rely on January for as much as a quarter of yearly growth
A post-pandemic growth spurt for gyms in the US came to an abrupt halt in January, usually the busiest month of the year.
Foot traffic to major gyms was flat from January 2023, according to mobile phone location data for 10 chains tracked by Placer.ai. January visits rose more than 40% in each of the past two years at the clubs, which include both closely held ones like Equinox Holdings Inc. and listed ones like Planet Fitness Inc. and Xponential Fitness Inc.