Redefining the fitness market, new business opportunities combined with hardware and software under the catalysis of the epidemic

2023 年 02 月 16 日

Xinyuan Capital Investment mobi Mobi Sports reprint source源:

Just like the famous words of Marc Andreessen, the founder of Netscape Netscape and well-known venture capital a16z, software is eating the world. Software is eating the world. Learn from our most personal smartphones, TVs, and cars. Now there are more and more vertical fields. The power of software and hardware integration, such as smart fitness accelerated by the wave of the new crown epidemic, is the best example in the near future化的「智能健身」就是近期最好的實例。

Fitness is actually a fairly mature industry. Various fitness products and fitness equipment companies have existed all over the world. However, after combining the original cold hardware and software networks, this market has begun to undergo some changes. Peloton, whose share price has risen by more than 300% in the past year, is undoubtedly the hottest representative of the smart fitness industry最火熱的代表。

Source: Peloton

Unlike traditional fitness equipment, which focuses on the design and manufacture of hardware, Peloton initially started from the perspective of software. In the view of John Foley, founder and CEO of Peloton, the most valuable thing in this industry is not the equipment but the content. It’s hard to understand. Just think about today’s consumers who want to take a fitness class. The key to their choice is actually the teacher, not those hardware devices that are similar to each other.」,而不是那些大同小異的硬體設備。

The reason why Peloton also invests in the design and manufacture of hardware is mainly based on user experience considerations, but the real core value of their operation is actually a fitness platform that integrates software, hardware and content.身平台。

This means that Peloton's customers have never purchased just one device, but a complete set of personalized services with interactive community characteristics. What's more, Peloton also accepts consumers to purchase software and content services separately, which is why many people will Peloton can be described as Apple plus Netflix in the fitness industry. It can also be said that the rise of Peloton has not only changed the appearance of the traditional fitness market, but also introduced new business models and created new value for this market.商業模式,並創造出新價值。

But in fact, Peloton is not the only one. With the global fitness population and the overall market output value continuing to rise, many players have entered the fitness market from the software and network industry in recent years, and they have also shined because of this wave of epidemics, such as the Chinese smart fitness leader Keep. The Mobi movement of Yuan Capital Investment is a good indicator case好的指標案例。

Similar to Frey’s own experience and needs when he founded Peloton, Terry Tian, the founder of Moby Sports, was also driven by his personal interest in sports.動。

In 2014, Terry Tian just came out of the previous venture and was looking for a new entrepreneurial topic. This time, he discovered from his own needs that the experience brought by most sports equipment in the market is not very good, and these equipment manufacturers do not know that users have poor experience. The user will never know who their users are. When they see this gap, Moby Sports appears.了莫比運動的出現。

 SourceMoby Sports 

 Compared with Peloton, Moby's product line is wider. In addition to treadmills, there are also elliptical motorized bicycles and Moby's most famous rowing machine. But no matter which product it is, the key is that these devices have corresponding smart apps that provide services such as social media. Group competition mode, professional training mode, live interactive mode, etc.模式、實景互動模式等。

Of course, some people must want to ask whether the popularity of Peloton or Mobi Sports is closely related to the epidemic that makes people unable to go to the gym as they like, so will the craze continue after the epidemic slows down?還能持續嗎?

First of all, the development of the overall fitness market is on an upward trend, especially in the Chinese market. Deloitte’s 2019-2020 China Gym Market Development White Paper released in November 2020 pointed out that the penetration rate of China’s fitness population is only about 4% based on a sample of 18 cities. Compared with the penetration rate of the US fitness population The penetration rate is about 20%. The European average penetration rate exceeds 7.8%. It can be expected that with the increase of everyone's disposable income and the rise of health awareness, there will be an accelerated growth process.將會迎來一個加速成長的過程。

In addition to the continuous growth of the general environment trend, this group of emerging smart fitness players have the opportunity to follow the trend. There is a big difference between smart fitness and the traditional fitness market. Users have a higher degree of mastery and closer interaction, and are no longer limited to one-time commodity transactions. For example, Peloton’s total number of users has exceeded 3.6 million in the first quarter of this year, and its user retention rate is as high as 92. have a fairly high viscosity其用戶具備相當高的黏性。

Therefore, when the epidemic gradually slows down in the future, the incentives of health and safety catalyzed by the epidemic may indeed decrease, but the convenience, fun, privacy, and high efficiency of smart fitness will not be affected and will continue to exist.」等特點卻不受影響,仍將持續存在。

It can be expected that smart fitness will continue to change the appearance of the traditional fitness industry and even further expand the territory of the overall fitness market版圖。