MOIRA: Life Time Fitness' Groundbreaking Move in the Era of Digital Health
This evidence reiterates the "industry-agnostic" trend of digital disruptors winning the first-party relationship with consumers, thanks to inherent characteristics like convenience, personalization, and intelligence.
Familiar non-fitness examples include streaming music services like Spotify and Apple Music to digital banking providers like Venmo and PayPal .
How can leading gym operators defend their customer relationships and not be relegated to low-margin and indefensible competitive factors like "location" and "equipment"?
On Wednesday, Life Time Inc. announced MOIRA-a First-of-Its-Kind Offering for Longevity, Performance and Health Optimization.
The following strategic ideas can be inferred from this announcement:
It’s been said that health is the new wealth. Despite that, there are still massive discrepancies in reality.
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Consumers are demonstrating a real demand for addressing these issues. Stated by Mike G. Hansen yesterday in proprietary research titled, “GLP-1, The "Magic Pill" For The Fitness Industry & Key Stats”:
I see MOIRA becoming a meaningful digital front door for Life Time Fitness that will attract new consumers and create a flywheel effect across their entire ecosystem.
How do you see competitive factors continuing to shift among gyms?
Builder + Investor + Super Connector + Venture Partner | Fitness | Digital Health | Prop Tech
1yIntersection at the needs of the consumer is the path to meeting them along the many miles of customer relations. A zenith occurs now in the form of health and wellness and a lack of adoption is likely to be the difference of keeping doors open vs closing ops. With the tremendous innovation and startups I’m seeing in farming and nutrition tech and fitness data programming it’s a great time to be alive- and stay alive :-)
Strategy, Transformation and Growth Leader (Ex KeyCorp, GE, AMEX, AIG)
1yI am curious as to how Forbes came up with the 74% estimate for Americans using at least 1 fitness app. That number seems a bit high. For my fitness company business plan I have been working on a fitness ecosystem approach that brings together the digital and physical world together in a more integrated way. These are still somewhat siloed in how they are viewed, marketed and delivered to members/customers.
VP. Scouting & Talent Acquisition | Life Time Brand Ambassador
1yWe had to, it just made too much sense. Our customer is having all of these services done somewhere? We want to bring those well being opportunities to our customers and provide it all under one roof at the highest level of quality!