ANDREA FELSTED: February or March could be the new January gym boom period

People are tired of working out in their kitchens and bedrooms. Picture: BLOOMBERG.Peloton Interactive’s troubles are not just down to self-inflicted wounds. There is mounting evidence that consumers are desperate to get back to the gym.

The Omicron outbreak put a dent in people hitting the gym at the beginning of January. But the picture improved by the second week of the month, according to Placer.ai. For the most part, enthusiasm for in-person workouts remains strong. Plus, with signs that Omicron is peaking, and appetite for travel rising, the prospect of beach holidays will be another impetus to get back in shape and shed those lockdown pounds.

It may seem counterintuitive, but against this backdrop, the budget chains look best placed. That includes Planet Fitness, but also Netherlands-based Basic-Fit, Britain’s The Gym Group, as well as privately held Pure Gym Group Plc, which recently received a £300M investment from KKR & Co. Peloton and Lululemon Athletica’s Mirror and other home-exercise companies must find a way to coexist with brick-and-mortar rivals.

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