Gen Z prioritise fitness spending over pubs and restaurants
Spending by Gen Z on fitness activities has jumped in the last year as Brits focus on fitness over pubs and restaurants, according to new data.
With three quarters of Gen Z exercising at least twice per week, fitness spending has risen 17 per cent in the last year, according to a report by The Gym Group.
“For this generation it is not only about improving fitness, but also protecting and improving mental health and building social connections,” Will Orr, CEO of The Gym Group, said.
“Exercise is at the core of Gen Z’s sense of wellbeing and lifestyle,” he added.
A quarter of Gen Z ranked health and fitness as their most important spending item, versus just 17.5 per cent who ranked going out to eat and drink as most important.
Nearly one in five prioritise spending on streaming services.
Just over half say they have formed new friendships through working out, with 44 per cent reporting that they workout to socialise with friends.
While fears that they will be the death of the pub are almost certainly overwrought, it’s true that many in this generation are more discerning about when and where they spend their money on going out.
Why are Gen Z spending more on fitness?
Gen Z are generally more health conscious than previous generations, particularly when it comes to fitness, skincare and alcohol consumption (anti-ageing products, traditionally marketed to older generations, are a becoming a major focus).
According to a recent McKinsey report, younger generations are spending “disproportionately” on wellness, with 79 per cent of UK consumers calling it a priority.
McKinsey put this down to higher levels of burnout and worse overall health compared with older people, plus more exposure to health-related content on social media.
Young consumers aged 18-34 are also showing the highest interest in weight-loss drugs, although it has yet to be seen how this will affect gyms – particularly given the social aspect of gyms.
Almost nine in ten of Britain’s 18-34s are actively managing their weight compared to an average of 73 per cent of all Brits, with almost half having either used or showing interest in taking prescription weight-loss drugs.