Majority of Americans won’t renew gym memberships post-coronavirus: TD Ameritrade
According to TD Ameritrade, 59 percent of Americans do not plan on renewing their gym memberships while 56 percent found more cost-effective ways to get exercise during the pandemic.
The end of the coronavirus may not be the end of trouble for gyms in the U.S., according to one survey.
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TD Ameritrade recently released the results of a survey on Americans’ lifestyle and finances. According to the survey, 59 percent of respondents said they won’t renew their gym memberships once the coronavirus pandemic is over.
In fact, 56 percent of respondents said the pandemic helped them figure out how to live a healthy lifestyle while spending less money.
IS IT SAFE TO GO TO THE GYM DURING THE CORONAVIRUS PANDEMIC?
Before the pandemic, Americans who “live a healthy lifestyle” reportedly spent a monthly average of $177 on gym memberships, fitness classes and personal training, according to the survey. That totals $2,124 a year.
Almost 60 percent of survey respondents said they believe a healthy lifestyle is expensive and 41 percent said they believe it is “impossible to live a healthy lifestyle without spending a lot of money.”
GYM CHAINS IMPACTED BY CORONAVIRUS CLOSURES ADAPT WITH OUTDOOR CLASSES
Among the survey respondents who said they lived a healthy lifestyle, only 9 percent said they paused on healthy living because of the pandemic.
Instead, 61 percent of respondents said the pandemic inspired them to focus more on their health.
According to the survey, many respondents ended up buying supplements and fitness accessories during the pandemic, including 53 percent who bought vitamins, 35 percent who bought workout shoes, 32 percent who bought fitness clothes and 21 percent who bought workout equipment such as a stationary bike or dumbbells.
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The survey, conducted by The Harris Poll on behalf of TD Ameritrade, was based on data collected from March 4-12 and April 24-May 4.
Of the 2,009 adults surveyed — who had at least $10,000 in investable assets — about 776 respondents said they live healthy lifestyles, the report said.
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