TANK releases snapshot report on the state of the fitness industry
TANK, Melbourne-based creative agency has released a briefing on the state of the Australian fitness industry, Brand Communities and a New Brand of Fitness.
The key findings reveal the industry is now worth an estimated AUD$1.31 billion worldwide, representing growth of 4.8% in the last five years alone. Albeit, the report states that forecasts show a 0.7% revenue decline in the Australian industry – mainly due to a mass-market shift to a preference for the cheaper, 24-hour gym chains.
It shows that with over 4 million participants in fitness activities, the Australian fitness industry now includes a wide range of different business models ranging from personal trainers to multi-national franchises.
Jim Antonopoulos, Executive Creative Director TANK says, “Something we have noticed in the international playing field is an industry that is moving in a range of directions, shifting and evolving into something new, with some players going about it in their own unique way, experiencing unmatched growth and carving out their own piece of a very lucrative pie that will over time, redefine the future of the fitness industry.”
Highlights of the report include:
- Increased competition forcing brands to reinvent themselves
- Sports apparel brands making moves
- The sport of fitness and the rise functional fitness.
- ENDS -
Established in 1997, TANK has 17 years experience in brand communications, design and the implementation of integrated communication campaigns.
TANK are a leading Australian creative agency and consult to businesses and organisations with a view to developing and nurturing leading brands in a broad range of industries, including government, tourism, sport, manufacturing, health, property, community service, professional services, hospitality and education.