Millennials Impact On The Fitness Industry

1

The New Consumer:How Millennials Will Impact The Fitness Industry

@bryankorourkebryankorourke.com

May 2012

Generational Impact

2


“echo boomers”“next generation”

“generation y”“peter pan”

“millennials”

May 2012

AKAalso known as

www.bryankorourke.com

3


May 2012


The New Consumer:How Millennials Will Impact

The Fitness Industry

4

Question

WHO Are They ?

May 2012www.bryankorourke.com

5


a) born between early 80’s and late 90’s

b) children of the “baby boomers”

c) highly influenced by technology

d) the largest generation since boomers

e) all of the above

May 2012

Who Are Millennials ?




@bryankorourke6

WHO ? BeliefsAge 16-34 Also A State of Mind

May 2012www.bryankorourke.com

7


May 2012

http://pewresearch.org/millennials/quiz/


@bryankorourke8

Question The New Consumer:How Millennials Will Impact


@bryankorourke

its important folks


@bryankorourke

Question The New Consumer:How Millennials Will Impact


Will history teach us nothing ?Sting | Nothing Like The Sun

9 www.bryankorourke.com

@bryankorourke10


May 2012

Strauss and Howe’s provocative theory of American history as a series of recurring 80

to 100-year cycles. Each cycle has four "turnings"- a High, an Awakening, an

Unraveling, and a Crisis.

History Includes Many Examples Of How Generational

Trends Have Impacted Businesses




@bryankorourke11

Largest Generation Yet

May 2012

Millennials Spend $170 Billion A Year


12


1. Intense Use of Technology;

2. Poor Economics & Delayed Rites Of Passage;

3. Culturally More Diverse;

4. More Narsacistic Than Boomers

May 2012

Generational Traits




@bryankorourke13

What Do THEY Think ?

May 2012http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf www.bryankorourke.com



@bryankorourke14

1. Self Expression




@bryankorourke15

1. Self Expression

May 2012

Pew Research revealed that Millennials believe “you

can’t be too careful with the people you deal with,” and 72 percent feel that most people can’t be trusted.

Trust

http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf www.bryankorourke.com



@bryankorourke16

2. Information




@bryankorourke17

2. Information

May 2012

"It's not about your company. It's about

me helping my friends."

-8095 Live participant

http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf www.bryankorourke.com



@bryankorourke18

3. Action




@bryankorourke19

3. Action

May 2012http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf

Word of Mouth .....

On CRACKwww.bryankorourke.com



@bryankorourke20

4. On-Off Line, MOBILE


Reverberation




@bryankorourke21


May 2012

There’s no longer a delay between a thought or experience and the ability to communicate it, anyone who has an opinion is able to voice

it instantly. And, unlike most digital interactions, mobile- platform conversations are private and untrackable, yet even more

personal and powerful.

On average, Millennials have twice as many core friends

online as they do offline.

http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf

Reverberation




@bryankorourke22



Reverberation




@bryankorourke23


www.bryankorourke.comMay 2012

http://edelman8095.tumblr.com/ | www.edelman.com/insights/special/8095/8095whitepaper.pdf

Reverberation

The Gap Between Reverberation And

Commerce Is Closing Fast



@bryankorourke24

How Do Club Operators Adjust & Compete ?

Millennial consumers will require rethinking health club business models


25


a) 10%

b) 15%

c) 20%

d) More Than 30%

May 2012

What Percentage Of Core Health Club Members in US Are Millennials ?


May 2012



@bryankorourke26


Millennials Make Up 1/3 Of Core Membership


May 2012



@bryankorourke27


The Customer

Experience Is The Brand

Its All About YOUR Product - Service




@bryankorourke28


New Group Fitness

Social Activities

Programming - Affinity | Caring




@bryankorourke29


Flexible Pricing | Groupon | Deals

“this age group is less employed than others, often having to delay certain rites of passage like moving out of their parents’ home or starting a career.”


avoid this perception at all cost



@bryankorourke30


Marketing


Are you engaging with customers in the digital and social space ? Are you

shifting from direct mail ?



@bryankorourke31


Technology


Is your website mobile ?

Are you using text marketing ?

What is your technology platform ?



@bryankorourke32


Learn More - Get This FREE Report




@bryankorourke33


Learn More - Get This FREE Report

34


May 2012


35


@bryankorourkebryankorourke.com

May 2012

GGFA Webinar THANKS

Millennials Impact On The Fitness Industry

Business

Transcript of Millennials Impact On The Fitness Industry