This week, on the Fitness + Technology podcast, Bryan O’Rourke shares his presentation live from Beyond Activ in New York. Beyond Activ is a leadership, investment, and business development event for owners, managers, and investors of health, wellness, fitness, and hospitality brands. Bryan was invited to present and host a panel on franchise innovation and growth with Emily Seaman, Head of Marketing from Momence, Bradford Smith, Chief Development Officer from PureGym, Eric Keller, VP of Support at Self Esteem Brands, and Justin Vartanian, Senior VP of International Division at Planet Fitness.
You can access Bryan's presentation deck here: https://drive.google.com/file/d/1vSI72UFIcTKyT8G7yZ8jskOJaEknXvc6/view
Recap of presentation is as follows: Key Drivers of Future Growth and Innovation (GII): Globalism, Demographics, Values, Technologies, and Economics are identified as the five mega-trend drivers of GII.
Customer Spending and Attitudes: Younger generations (Gen Z and Millennials) are spending more on health and wellness than older generations. U.S. consumers consider going to the gym a core part of their fitness routine.
Five Trends Impacting Businesses:
Declining customer satisfaction due to cuts in customer service.
Generative AI is shifting the internet experience from transactional to personal.
Lack of differentiation and creativity in app and brand design.
People feel overwhelmed by technology and desire more control and human connection.
Traditional life paths and values are shifting, leading to uncertainty and a search for trust.
2024 Edelman Trust Barometer: Innovation and technology offer promise but also risk exacerbating trust issues and societal instability. CEOs are expected to address societal changes and lead on issues like job skills, technology ethics, and automation.