The need for home fitness has never been greater
Figures show Covid quarantines have led to significant weight gain.
What does the data show?
Obesity is defined as having a body-mass index equal to or greater than 30.
In the chart above we see the share of adults who are obese in the countries Peloton operates in. The prevalence of obesity tends to be higher in richer countries, few richer than the markets Peloton has entered.
More than one-in-three (36%) of adults in the United States were obese in 2016 with Germany have the lowest share of obese adults in Peloton’s five countries.
Obesity is a complex issue, driven by many factors. Increased calorie intake and reduced physical activity have created a perfect storm leading to a public health emergency. Obesity is linked to increased risk for many serious diseases and health conditions.
Therefore, governments around the world are spending billions of dollars to tackle the problem.
Most calories per person, per day and how this compares to obesity
In the US, the average person eats significantly more than the recommended 2,000 calories a day for women and 2,500 for men. This is also true in all of the countries Peloton operates in.
Activity is decreasing
According WHO, more than a quarter of the world’s adult population (1.4 billion adults) are insufficiently active
Worldwide, around 1 in 3 women and 1 in 4 men do not do enough physical activity to stay healthy
Levels of inactivity are twice as high in high-income countries compared to low-income countries
There has been no improvement in global levels of physical activity since 2001
Insufficient activity increased by 5% (from 31.6% to 36.8%) in high-income countries between 2001 and 2016.
Globally, 28% of adults aged 18 and over were not active enough in 2016 (men 23% and women 32%). This means they do not meet the global recommendations of at least 150 minutes of moderate-intensity, or 75 minutes vigorous-intensity physical activity per week.
In high-income countries, 26% of men and 35% of women were insufficiently physically active, as compared to 12% of men and 24% of women in low-income countries. Low or decreasing physical activity levels often correspond with a high or rising gross national product.
The drop in physical activity is partly due to inaction during leisure time and sedentary behaviour on the job and at home. Likewise, an increase in the use of "passive" modes of transportation also contributes to insufficient physical activity.
Quarantine weight gain makes the problem worse
When the pandemic hit many countries went into lockdown. This encouraged people to stay at home, further reducing physical activity. Many countries reduced the amount of physical activity people could do. In the UK, we were limited to one hour of physical activity per day.
In the UK, a survey of 9,000 people, says Covid lockdowns and disrupted daily routines have made it challenging for people to eat healthy and keep fit.
Snacking and comfort eating were given as the main contributor by about half of those who said they were fatter.
More than 40% of adults in England have gained weight during the pandemic, with the average gain just over 3kg, more than 6 lbs.
Hybrid working is here to stay
“The hybrid model is here to stay and it’s actually a bit bonkers that it’s taken us this long to start doing it,” says Tony Crabbe, business psychologist and author.
Many companies have normalised home working and removed the need for employees to the return to the office. Most have adopted a hybrid approach, meaning the majority of the time will be spent away from the office, perhaps 3 days from home.
Therefore, our lockdown habits and reduced commuting are the way forward for the majority.
Are we returning to the gym?
This is a fascinating question and one that dictates long-term future of home fitness. If Peloton can replace gym memberships it’s market size is dramatically increased.
Convenience is a big factor here, not having to leave the home in order to workout maximises the time you can spend doing just that. You can also workout around your own schedule.
“I’ve learned to love using my own music (at my volume preference) and working out when I want. I love not being tied to a schedule since I work from home, it’s easy to fit it in when I can in between meetings etc.”
Peloton turns out to be a major cost saving versus going to the gym.
“I am saving money and getting more of a variety with Peloton. (Especially saving money because my husband and I both use the Peloton.)”
But not everyone agrees and for some the gym will remain:
“Nothing replaces in-studio yoga for me, especially when it's heated.”
The more specialist activities cannot be replaced by a Peloton membership. Another member commented that they use heavy barbells in the gym which they can’t use at home when weights dropped to the floor. We also should note that for many the gym is a social occasion where they meet others. It’s a mixed bag but the gym is certainly not for everyone and home fitness has significant advantages.
So why Peloton?
Convenience is a big factor.
Peloton owners indicate they’re far more likely to workout. It really stands out as a key reason to own home fitness equipment. Members can jump on when they want, without having to leave their home. Fitting in a workout around your schedule remove significant barriers.
Community and belonging
Encouragement from others is always a key factor in committing to something. Peloton’s community is like no other gym membership. There are hundreds of thousands of members talking with one another, sharing goals and wins and creating a fitness vibe which has parallels to a religion.
Instructors
I talked extensively about the variety and strength of Peloton’s instructors. Members love them and it keeps them coming back. Instructor maximise their reach with a huge Instagram followings. They maximise their appeal with apparel and music.
Summary
Globally we’re seeing a significant increase in the share of the population that are obese
People are eating significantly more calories than the recommended levels
They’re moving less
Quarantine has increased weight and decreased activity
Most of us will adopt hybrid working
Not everyone is returning to the gym
There’s never been a better time to be in the home fitness industry. The world needs it more than ever.