Enticing customers back is going to be a challenge because of these restrictions, and Magliacano says this is why these gyms should be thinking about how they can serve the customer at home too in order to keep them loyal.
Magliacano used Equinox, one of the companies his firm is invested in, as an example of a gym that has successfully pivoted to digital. In an email to Business Insider, Barry's CEO Joey Gonzalez said despite its challenges, the pandemic has presented the company with an opportunity to expand on a larger scale because of this digital offering and it is investing heavily into the future of digital.
"You either have to assume that people have now made the shift to more allocation to the home or are going to expand their fitness wallets – and arguably, it is hard to make that statement in a recession," he said.
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