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Editor's letter: Big (fit) tech

We’re entering the age of the wellness mega-corp, with the ultimate goal for investors being to dominate health and wellness markets in every channel. Prepare to expect the unexpected in this convergence of health, fitness and wellness

Published in Fit Tech 2021 issue 1

The fit tech market continues to hurtle along, with major players building out their portfolios. Google’s acquisition of Fitbit and Peloton’s of Precor being recent, high profile examples.

Although each buy-out, merger or launch varies in scope and sequencing, the intended destination appears to be similar, regardless of the starting point.

Fundamentally, we’re seeing investors converging in a battle for the wellness consumer and control of the health agenda. Apple, Google, Peloton, Samsung and others are locked in a race to build out businesses which dominate all parts of the consumer health, fitness and wellness marketplace.

In a recent issue of Fit Tech magazine, for example, we talked to Samsung’s Sharon Hegarty about how the brand is creating a fully joined-up lifestyle portfolio. “We envisage a world in which somebody’s smart home and personal tech can support and react to their fitness regime,” said Hegarty. “Be it through suggesting a shopping list for meal planning, setting the lighting for a yoga session or optimising sleep quality.”

Samsung is not alone in this kind of wide-ranging ambition, as brands work to create frictionless wellness offerings which deliver for consumers in all areas of life – potentially extending to government and private health contracts eventually.

Although digital is the starting point for many fit tech investors, we all live location-based lives, so there will inevitably come a time when brick and mortar investments of some kind become part of these portfolios.

We ultimately expect to see big fit tech acquiring everything from gym aggregators, medical insurance companies and corporate wellness providers, to gym chains, high-street retail and home wellness tech providers.

The way things are shaping up, it’s likely many of these big fit tech businesses will end up a similar shape, once the key elements of their growth plans are in place.

Awareness of this trend will shape the way smaller and medium-sized companies invest, as they innovate and position for acquisition to complement the needs of investors who are pushing forward with consolidation.

This eco-system looks set to create fertile ground for development and growth at every level of the fit tech sector, in a world that will be obsessed with health for generations.

Liz Terry, editor, Fit Tech
[email protected]
@elizterry
Sign up here to get Fit Tech's weekly ezine and every issue of Fit Tech magazine free on digital.
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features

Editor's letter: Big (fit) tech

We’re entering the age of the wellness mega-corp, with the ultimate goal for investors being to dominate health and wellness markets in every channel. Prepare to expect the unexpected in this convergence of health, fitness and wellness

Published in Fit Tech 2021 issue 1

The fit tech market continues to hurtle along, with major players building out their portfolios. Google’s acquisition of Fitbit and Peloton’s of Precor being recent, high profile examples.

Although each buy-out, merger or launch varies in scope and sequencing, the intended destination appears to be similar, regardless of the starting point.

Fundamentally, we’re seeing investors converging in a battle for the wellness consumer and control of the health agenda. Apple, Google, Peloton, Samsung and others are locked in a race to build out businesses which dominate all parts of the consumer health, fitness and wellness marketplace.

In a recent issue of Fit Tech magazine, for example, we talked to Samsung’s Sharon Hegarty about how the brand is creating a fully joined-up lifestyle portfolio. “We envisage a world in which somebody’s smart home and personal tech can support and react to their fitness regime,” said Hegarty. “Be it through suggesting a shopping list for meal planning, setting the lighting for a yoga session or optimising sleep quality.”

Samsung is not alone in this kind of wide-ranging ambition, as brands work to create frictionless wellness offerings which deliver for consumers in all areas of life – potentially extending to government and private health contracts eventually.

Although digital is the starting point for many fit tech investors, we all live location-based lives, so there will inevitably come a time when brick and mortar investments of some kind become part of these portfolios.

We ultimately expect to see big fit tech acquiring everything from gym aggregators, medical insurance companies and corporate wellness providers, to gym chains, high-street retail and home wellness tech providers.

The way things are shaping up, it’s likely many of these big fit tech businesses will end up a similar shape, once the key elements of their growth plans are in place.

Awareness of this trend will shape the way smaller and medium-sized companies invest, as they innovate and position for acquisition to complement the needs of investors who are pushing forward with consolidation.

This eco-system looks set to create fertile ground for development and growth at every level of the fit tech sector, in a world that will be obsessed with health for generations.

Liz Terry, editor, Fit Tech
[email protected]
@elizterry
Sign up here to get Fit Tech's weekly ezine and every issue of Fit Tech magazine free on digital.
More features
people

Andy Etches

Founder and sports director, Rezzil
Rezzil was able to have an injured player learning his new manager's philosophy, positioning and playing style – all from a seated position

Digital retention top performers

Three digital fitness platforms tell Fit Tech how they work to achieve higher levels of customer retention

Virtual wellbeing check

Feelings of pressure, isolation and performance anxiety are commonly experienced by athletes, however it isn’t always easy for clubs to identify those who are struggling. Richard Lucas, founder of GoVox, explains how technology can help

Clubs without walls

Venueserve Fitness is working with the Health Club Collection to drive its digital customer engagement

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Researchers in China have designed a tiny device that can scavenge wind energy from the breeze you make when you walk or run
interview

Rodrigo Jesus, Salus Optima

Everything we do is evidence based and scientifically proven. Our technology is grounded in science and we have dozens of scientists and experts who collaborate with us in human performance
Editor's letter

Big (fit) tech

We’re entering the age of the wellness mega-corp, with the ultimate goal for investors being to dominate health and wellness markets in every channel. Prepare to expect the unexpected in this convergence of health, fitness and wellness

Sky x Fiit

Fiit has secured a deal with TV giant Sky, to make its virtual workout platform available through the subscription-based Sky Q service. With 20 per cent of Fiit users now accessing the app through Sky, Fit Tech speaks to Fraser Stirling and Daniel Shellard to find out more
interview

Blurring the lines

Les Mills has launched a suite of digital solutions to help gyms future-proof by expanding their reach in the booming online fitness space, while complementing their live offerings. Steph Eaves talks to Les Mills International’s CMO Anna Henwood to find out more
people

Devi Mahadevia

Facebook director of sports and fitness partnerships
With Facebook paid online events, publishers can charge viewers to attend a video livestream on their Facebook pages or a third party video service

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FunXtion and GoodLife Fitness are collaborating to help Canadians stay fit in the gym and at home
interview

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HID Global
HID Global