Sport & Fitness Consumerism Flashcards
L.3,4
Examples of products that companies compete in selling consumers?
Sport Drinks
Exercise Equipment
Workout Apparel
Gym Memberships
what are some factors behind increasing sales of health and wellness products?
an aging population
high obesity
raised public awareness of unhealthy foods
how much money is the industry worth right now?
it reached 6.8 trillion and is expected to reach 9 trillion in 2028 and 14 trilling by 2032.
what are some target markets that are susceptible to misleading or fraudulent claims related to fitness/health?
Many senior’s possess significant purchasing power and are a lucrative market for sellers of products and services promising prolonged vitality.
overweight teens/adults are vulnerable to the market devoted to weight loss.
exergames are combined vid games and phys-ed for sale to children hooked on games.
what is the private fitness industry?
the PFT refers to the large number of private clubs offering people opportunities to purchase and enjoy fitness training and activities related to fitness.
how many privately owned gyms are there in canada?
9,493 as of June 2023.
16% the population goes to fitness clubs as of 2021.
total annual revenue is $6.2 billion as of 2022
buyer beware?
businesses driven by profit often make misleading claims.
they promise consumers devices that will give them maximum health benefits for minimum effort (like weight loss machines or pills).
