Abstract
In this paper, we use multiple regression and stepwise regression analyses to consider a set of variables to determine what is important in the marketing of, and actual use, of indoor cycling. We find that the importance of music to the consumer, and the importance of cleanliness of the studio to the consumer are key factors in the amount of use a consumer makes of indoor cycling. We also discuss entertainment marketing and the role of sense of community .
Highlights
As of 2018, the Gym, Health & Fitness Clubs industry has been valued at $33.7 billion and it is set to increase 1.5% year-over-over until 2023 (Cohen, 2018). With such a booming industry, studios of all sorts are opening in every major city around the world
Indoor spinning studios are an example of these studios that have benefited from the growing trend of a healthy lifestyle
Companies like SoulCycle, Flywheel, and Peloton have been successful, despite charging anywhere from $30 per class (SoulCycle, 2018) to $2,245 to purchase a stationary bike and have customers pay an additional $39 subscription fee per month to exercise in the comfort of their homes (Peloton, 2018)
Summary
As of 2018, the Gym, Health & Fitness Clubs industry has been valued at $33.7 billion and it is set to increase 1.5% year-over-over until 2023 (Cohen, 2018) With such a booming industry, studios of all sorts are opening in every major city around the world. Indoor cycling studios generate 55% more revenue than any other kind of studio (Leve, 2016) For this reason, companies like SoulCycle, Flywheel, and Peloton have been successful, despite charging anywhere from $30 per class (SoulCycle, 2018) to $2,245 to purchase a stationary bike and have customers pay an additional $39 subscription fee per month to exercise in the comfort of their homes (Peloton, 2018). A stepwise regression analysis will be applied to attributes identified through a survey in order to find which of the variables are significant at predicting the likelihood of a customer (rider) visiting a studio more often
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