Changing Demands and Lifestyles

Consumer lifestyles are changing. We need more time to dedicate sparingly across multiple tasks, including fitness. When time is of the essence, it reduces the desire to travel to a gym, so interest in virtual workouts has spiked. Digital classes can be tracked in real-time alongside the existing physical membership/subscriptions. Additional data can also be analyzed around the number of visits/PT sessions redeemed and timeframe.

Harnessing big data enables analysis of changing consumer sentiment. Reliably using this data can allow PTs and gyms to obtain meaningful insights into how the demographic or target market behaviour is shifting. They can adjust their service offerings to maximize their resources for increased revenue. Data recorded on the blockchain can offer an immutable alternative to centralized databases, thus mitigating concerns over information integrity and the insights' reliability. The data is also more transparent, facilitating a holistic view of consumer behaviour. This will be particularly useful for monitoring membership purchases and potentially secondary sales activity, provided the content is transacted digitally as NFTs on-chain.