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ViPRBryan K. O’RourkeViPR 2013 Distributors’ ConferenceMiami, Florida
@bryankorourke
Market Trends & Opportunities
1
ViPR Conference 2013 | @bryankorourke
WAVEof change in fitness
2
The fitness business is changing . New economic models and innovation (NEWISM), changing consumers (Millennials) and technologies are creating a new world where new products and services will flourish while others will become extinct.
@bryankorourke
OPPORTUNITY & ADVERSITY
Some Will Take Advantage And Others Will Suffer
3
A BIG SHIFT IS UNDERWAYIn the fitness business@bryankorourke
“Brands will be built and
others will fall on the backs
of these trends.”
CONVERGENCE DRIVING IT
CONVERGENCE OF 3 KEY MACRO DRIVERS4
@bryankorourke
2
1 3
consumers
new models technology
FSTR - FASTER
2. Excitement and Attention Accelerating - NEWISMKickstarter enables any one to test, fund and launch an idea.
Pebble received $10 Million in 37 days via
Kickstarter.
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@bryankorourke
2FROM IDEA TO LAUNCH IN DAYS
EXPERIENCE CRAMMING
3. UNIQUE VARIED & IN LESS TIME - NEWISM
Experiences that few others can or have had is a sure-fire status symbol
8
@bryankorourke
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STATUS STREAMING
4. CONSUMERS STATUS and SOCIAL MEDIA - NEWISM
“Social Status comes from
being ‘in-the-know’, part of
the 'NEW'.”
Nike launched a number of highly collectible limited edition sneakers using a Twitter reservation system
9
@bryankorourke
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TRYSUMERS
5. LESS COMMITMENT and LOWER COST - NEWISM
S e e o r H e a r ; Check Reviews; Try for FREE
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@bryankorourke
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(H)OLD
6. DIGITAL - PORTABLE - NO STUFF - NEWISM 11
Technology enables new ways of consuming . Trade in, upgrade, or
engage in entirely new ways.
@bryankorourke
6
TRADITION HAS ITS PLACE
What NEWISM is NOT - ALWAYS RELEVANT
Not all consumer attention will be focused on the new.
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@bryankorourke
8095®
The benchmark 8095® study in 2010 revealed four insights.
Brands are a partnership and form of self-expression
Information is a key to influence
Taking action on behalf of brands is a core value
There is a reverberation effect taking place online, offline and increasingly on mobile devices
8095 Study - Millennials
How Consumers Think Is Changing
Global UrbanizationFor the first time more people live
in cities or suburbs.
ImplicationSmaller Fotprints for Gyms
Flexiblility In Fitness ModalitiesUrban Identification
1. United Nations Department of Economic and Social Affairs/Population Division World Urbanization Prospects: The 2011 Revision
GLOBAL URBANIZATION
Demographics - Heavy Urban Concetration 17
Experiences Over StuffThe economy is forcing delayed
purchases and demand for a new level of value from brands.
ImplicationServices must demonstrate value.
Pressure on traditional PT and opportunity for group.
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LOWER INCOMES
Demographics - Fueling the Value Game
Increased Diversity & Changing Roles
Traditional gender roles are shifting. Six in 10 college students are female1,
and men are taking over more household responsibility.
ImplicationGroup will not be as female
oriented in the future as diversity increases and roles evolve.
1. (Digest of Education Statistics, 2010) 19
SHIFTING ROLES
Diversity Is Everywhere
The Inescapable Digital Transformation
SMARTPHONES
Significant Penetration In
US, Western EU and AU.
REDEFINING TRANSACTIONSMOBILECOMMERCE
Booking and payment services for classes with moile devices
BRYANKOROURKE.COM | WELLNESS INDUSTRY 2013
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CANCER COMMONSCROWDCancer Commons uses the crowd to help find a solution - Technology enabled harnessing of the CROWD
-EXPRESS
BRYANKOROURKE.COM | WELLNESS INDUSTRY 2013
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WELLAHOWellaho is a dedicated social network and web portal for the chronically ill
TRIBE-FACTURING
BRYANKOROURKE.COM | WELLNESS INDUSTRY 2013
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GROUPING
From 2009 - 2011 Programs Set To Music Grew 15% . Mindbody
Classes Grew 17%. IHRSA Consumer Report 2012
An Important Trend In The Fitness Industry
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GROUPING - EXPERIENCE
EXPERIENCE CRAMMING
Experiences that few others can or have had is a sure-fire status symbol
28
@bryankorourke
GROUPING - TRYSUMER
NEW MEANS TO TRY THINGS USING TECHNOLOGY
S e e o r H e a r ; Check Reviews; Try for FREE
29
@bryankorourke
STATUS STREAMING
4. CONSUMERS STATUS and SOCIAL MEDIA - NEWISM
“Have You Tried @Vipr_Fit ? Its
Fantastic ;)”
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@bryankorourke
4
OPPORTUNITY & ADVERSITY
Some Will Take Advantage And Others Will Suffer
31ViPR Can Take Advantage Of The SHIFT
@bryankorourke
“Brands will be built and
others will fall on the backs
of these trends.”
ViPRBryan K. O’RourkeViPR 2013 Distributors’ ConferenceMiami, Florida
@bryankorourke
Why ViPR Is Significant In
The Market
32
New
Millennial Friendly
Technology Fit
Group Format
ViPR - Thinking Differently