Technology's Impact on the Fitness Industry - IHRSA 2010

/

At IHRSA 2010 in San Diego last week I had the chance to share views with leaders on where the fitness industry is heading and how technology is at the forefront of its future. The presentation and my video recap are included below.

The presentation was broken into 4 key parts. The first section recaped the increasingly rapid exponential advancement of technologies and what the key trends specifically are, with examples of how those trends are starting to impact the business today. Next, was a review of the tranformation of business models which are being greatly impacted by lower communication and storage costs in addition to the ubiquity of the Internet which is increasingly shifting power to buyers away from sellers. A focus of this section was how bricks and mortar business models are all suffering from declines in margins as costs have surged and pricing power has diminished. Additionally the concept of the "long-tail" was shared. Third, was coverage of innovation, including the difference between sustaining and disruptive innovations. This section of the presentation addressed business model innovation and relied on key concepts of C.K. Prahalad and others. Finally, my predictions for the fitness industry were shared: non-facility competition will surge in the coming years; bricks and mortar fitness businesses will deliver new models that merge the digital and physical worlds for higher levels of customer service at lower costs; wellness will become increasingly mainstream as the "long tail" of the fitness industry; and the future of the extant industry in general will largely be dictated by its present leadership changing its mindset. As I pointed out, the top 10 vaccum tube companies did not participate in the transistor revolution.

Please review the presentation below and see my video recap. Thanks IHRSA for inviting me to contribute.

Impact of technology on fitness industry - IHRSA 2010

 

Mobility's Coming Impact on Innovation

/

With hundreds of millions of smartphones being used, the merger of the physical and digital worlds continues and its practical application is starting to be seen in a variety of forms. The proliferation of mobile devices and Internet ubiquity are creating unique opportunities for innovations that will bridge the divide between bricks and mortar space and the web.

A recent NYT article "Cellphones Let shoppers Point Click and Purchase" identifies the trend:

...a technological transformation is coming to many of the nation’s retailers. They are determined to strengthen the link between their physical stores and the Web, and to use technology to make shopping easier for consumers and more lucrative for themselves. The main way they plan to do it is by turning people’s mobile phones into information displays and ordering devices. Can’t find the flour at the grocery store? Grocers will offer phone applications that tell shoppers exactly where to go. Is the department store out of size 8 jeans? Retailers want to make it simple to punch a couple of buttons and have the desired size shipped home.

Technology in this space is seen as an opportunity for competitive advantage, with some big retailers being reluctant to discuss their plans. The Sam’s Club division of Wal-Mart, Crate & Barrel, Kerr Drug of North Carolina and Disney stores are among retailers confirming they were testing various mobile technologyies or plan to do so soon. These retailers aren't the only concepts driving innovation around mobility. Health clubs, hospitals, restaurants and other bricks and mortar businesses will begin similar forrays into this space as smartphones continue their surge in the marketplace.

Watch the video below that demonstrates Scanlife technologies, an example of this unique and innovative trend.

Gladwell to Speak at IHRSA - Check Out Video on Outliers

/

One of the most accomplished contemporary writers of recent times, Malcolm Gladwell, will keynote at IHRSA's annual convention in San Diego this year. The fitness industry trade group did well by its membership in having Malcolm speak. I am happy to be speaking at the upcoming event and even more delighted that Mr. Gladwell will be there sharing some of his unique views. Watch his interviews on CNN and CBS below as he explains some of his findings related to the book "Outliers".

 

IHRSA - Technology and The Future of the Fitness Industry

/

Preparing for the IHRSA convention and my presentation on Saturday at 1:30 pm PST on technology and its impact on the fitness and wellness industry. I will also be on a panel discussing group fitness trends and how cardio gx from polar is a great solution for cutting edge facilities. I'll be sharing my presentation on this site immediately following the show. Its going to be a great event with a lot of important content and interesting thought leaders. See the video below for more information and I look forward to seeing you there.