Share prices in the health and fitness industry were on the up today on hopes of the traditional post-Christmas migration to gyms would give the sector a boost.
Top among New Year resolutions is to get fitter and Brits are reportedly again limbering up, putting on their latest fitness wear and heading to local gyms.
Some 21% of UK residents made a 2023 resolution, research from YouGov has found, with around half of these aiming to lose weight and improve their diets.
Many fitness brands have seen this crucial upward trend in January and so far, it has boosted a variety of fitness stocks.
Fitness chain The Gym Group and retailer JD Sports have seen their share prices grow by close to 6% and 15% respectively since Christmas.
US brands such as Peloton and Lululemon are also up 9.8% and 2% for 2023.
But just as many people’s resolve falters in February, so does investors if last year is a guide.
The Gym Group share price grew by 15% this time in 2022 as its #realresolutions campaign led to 158,000 new sign ups and 31% membership growth, according to advertising agency Dinosaur.
Targeted advertising on social media and widespread TV ads helped, but over the rest of the year the picture was not as pretty and come end-December the price had more than halved.
Maybe, like with the prospect of another mind-numbing exercise routine, some lateral thinking is required.
If so, Equinox Group arguably can lay claim to be one of the the winners’ of 2023s fitness campaigns.
The US luxury fitness club banned all new memberships on 1 January stating on its website “It’s not you, it’s January.”