It’s about ‘how do I have more energy? More clarity?” “What you’re going to see from us and others is how help people live with the extremes. People want a unique experience, and they’re willing to pay for it.”Īnd, catering to the growing demand for wellness services, Spevak said Equinox is already focusing on optimization and longevity:
When asked about looming economic uncertainty, Spevak said the business posted record profits during the Great Recession in 2008, and he expects Equinox to perform well in a downturn.Įven after raising dues to counter a higher cost of doing business-wages for talent retention, new programming, etc.-Spevak said there has been “no resistance,” adding: “I think the Peloton trend speaks for itself right now… people crave community.” Key insights: Addressing at-home fitness, Spevak took a shot at competitors: But, the recovery is uneven - according to Mindbody, only 35% of fitness businesses are back to pre-pandemic sales levels. What’s trending: In-person fitness is rebounding. Equinox will have recovered 90% of its pre-pandemic members by year’s end.In September, monthly membership sales hit an all-time high ahead of opening its first new location in over a year.
Club memberships sales reached record levels six out of the last seven months.The latest: According to Equinox CEO Harvey Spevak, the luxury gym chain’s pandemic recovery is nearly complete. In search of community and holistic wellness, consumers are heading back to the gym.
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