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jerryking : leisure   5

The dumb-bell economy: inside the booming business of exercise
FEBRUARY 9, 2018 | FT | Jo Ellison.

Where once consumers looked for acquisitions to express their status, our spending habits are shifting towards more holistic expenditures. In the past 20 years, the leisure industry has emerged as one of the most dynamic, disruptive and fashionable of forces. It’s all part of a new focus on the “lifestyle experience”, a trend that has possessed consumers and found luxury brands spiking with sporty new offerings — sneakers, leggings, apps and accessories — designed to harness the burgeoning market. As Harvey Spevak, the executive chairman and managing partner of the Equinox group, likes to say: “Health is the new wealth.”
.....2019 will see the first Equinox hotel opening in New York’s Hudson Yards, the first in a rollout of Equinox hotels earmarked for billions more in investment. The hotels will be founded on the same full-service ideal as the clubs. “Our vision for the hotels is to cater to the high-performance traveller,” says Spevak, “and we think about it as we do, historically, from a science perspective. We call it MNR — movement, nutrition and recovery — where a high-performance lifestyle and a healthy lifestyle is a three-legged stool.”.....as our lives have become busier, atomised and more urban, the gym has emerged as the new place in which to gather: to be part of a community....not only are millennials more likely to buy gym memberships, they’re driving the boutique business as well. The rise of the group workout, club membership and all of the attendant accessories that come with it have become part of the new language of “wellness”......Where you work out, who you work out with, and what you wear to work out in have become totems of fashionability. Spevak traces the first shoots of the wellness trend to 9/11, when he saw a jump in the number of people becoming focused on holistic health and taking care of themselves.
....But more than anything, the fitness boom must be a corollary of a digital revolution in which working out has become a ubiquitous feature of our online life; ....Minton agrees that a gym’s success depends on cultivating this tribal loyalty, delivering a unique experience and then selling product that marks its members out. “Some of the most interesting clubs are those that are expanding into less obvious areas,” he says. “We now have over 600 boutiques across the UK and they are growing faster than traditional gyms as they have a smaller footprint and can take pop-up spaces.......The experiential market is throwing a lifeline to retailers, as well. “The fashion link is growing,” adds Minton. “Fitness apparel brands like Lululemon, Sweaty Betty, Reebok, Nike all now offer free in-store workouts, which provide them with an opportunity to market their brand lifestyles more directly and forge a connection with the consumer.”.......“The demise of retail is a permanent shift,” says Spevak. “It doesn’t mean retail’s going to go away, but it’s going to look very different. The consumer, in my opinion, will continue to buy nice things for themselves, but I think in the scheme of priorities the experience is more important than the handbag.”
fitness  exercise  London  United_Kingdom  gyms  wellness  rollouts  strength_training  boutiques  leisure  Equinox  millennials  experiential_marketing  small_spaces  pop-ups  non-obvious  upscale  retailers  in-store  digital_revolution 
february 2018 by jerryking
Segmentation - Back to School: Connecting With College Students :
September 28, 2004 | Marketing Profs | by Robert F. Hogeboom |

here are seven strategies that reflect the unique culture of college students:

Communicate lifestyle, not age relevance: Speaking to college students' age ("You're in college, obtain your first credit card") is ineffective, because it does not inspire them or grab their attention. Marketers must create a link between their brand and students' lifestyle, which includes attending concerts and movies, snowboarding on weekends, eating at off-campus restaurants, traveling and more. Remember: college students don't just study and attend class all day—they are extremely active.

Attach your brand name to current trends: Snowboarding, surfing, skateboarding, underground rock bands, rock concert festivals and the ESPN XGames are considered "cool" among the college student market. Businesses can attach their brand name to these activities, events, products and associations that have earned "street-cred" among the student market, and thus share in their emotional appeal.

Tap into students' emotional needs for empowerment, privilege, and status: College students are attracted to goods and services that empower them as consumers and individuals. Examples include the Internet, mobile phones, MP3 players, online file sharing and credit cards. Additionally, products and services that enhance social status are successful at winning students over.

Don't try too hard to win students over: College students greet most product claims with skepticism. Students are aware that they are a highly desirable market. They don't want to be overtly sold or pitched. Instead, they simply want to be educated about products and services and told how the offering matches their unique needs.

Reach students at key transitional periods: At certain transitional periods, college students exhibit a need for certain products and services. It's a marketer's job to reach students at these points of need. Key transitional periods for college students include the beginning of freshman year, summer breaks, moving to off-campus living, studying abroad and graduation.

Become an authentic brand: Ad-weary and marketing-savvy college students value authentic brands. Authentic brands exhibit the following characteristics:

• They develop trust among potential customers—trust is the foundation of brand authenticity.

• They are perceived as not trying too hard to sell or actively win customers over.

• They continually deliver value and convince students that they have students' best interests at heart.

Play-it-straight: College students immediately sense hype and do not accept brands that they consider fake.

Read more: http://www.marketingprofs.com/4/hogeboom1.asp#ixzz203iwNgRt
market_segmentation  Colleges_&_Universities  students  lifestyles  branding  leisure  marketing  tips  target_marketing  authenticity  transitions 
july 2012 by jerryking
Leisure revenue management
Oct 2001 | Journal of Leisure Property |Ian Yeoman; Una McMahon-Beattie; and Ros Sutherland.

Leisure revenue management (RM or yield management) marries the issues of supply, demand and price, when the organisation is constrained by capacity. By using time' as the unit of inventory, the authors explore a typology of the characteristics of RM that pertain to the leisure experience, and set out to explain the process of RM through a holistic model which brings benefits to managing leisure properties and events.
ProQuest  yield_management  inventories  revenue_management  operational_research  leisure 
july 2012 by jerryking
From Harvard Yard To Vegas Strip Article
10.07.02 | Forbes.com - Magazine | Carol Potash.

Through branding, cross-casino marketing, loyalty cards, and technology, CEO Gary Loveman has made Harrah's Entertainment, the most diversified of the big four gaming companies, a model of effective customer feedback. In an industry accustomed to relying on intuition, Harrah's has built a database of 25 million customers that drills down through all its activities. Digital profiles are based not on observed behavior of what customers have spent but on analysis of what they are capable of spending. The technology includes built-in marketing interventions designed to close the gap between actual and potential spending. In this new world of computer-generated predictions, the customers are willing participants. Harrah's may be the best example of this kind of ongoing feedback system that could be applied to theme parks, ski resorts, cruise lines, retailers, and subscription businesses such as AOL and satellite TV.
predictive_modeling  Las_Vegas  databases  theme_parks  gaming  CEOs  Harrah's  casinos  yield_management  data_mining  customer_profiling  loyalty_management  customer_feedback  variance_analysis  leisure  branding  Gary_Loveman  marketing  observations 
july 2012 by jerryking

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