Published • 26 Jul 2024
Gyms are constantly searching for new ways to improve the member experience and increase revenue in the ever-changing fitness industry. Given that around 36% of individuals who go to the gym consider location and convenience as their top priority presents an opportunity for gyms and fitness centers to attract fresh members. Enter smart stores—the convenient, self-service retail solution that’s revolutionizing gyms. How can smart stores benefit your gym and help increase revenue? Read on to find out the answer.
What Are Smart Stores?
Smart stores use AI and machine learning to offer customers a seamless shopping experience without the need for staff interaction. Think of them as vending machines reimagined, delivering a seamless shopping experience for gym-goers to purchase products with ease and speed.
Convenience at Your Members’ Fingertips
Picture this: It’s 6 AM, and your gym is buzzing with early risers. Some are there for their daily workout, while others are squeezing in a quick session before heading to work. Suddenly, one of your members realizes they forgot their protein shake, energy bar, or even yoga mat. In a traditional gym setup, they’d have to hope a vending machine had what they needed or do without. But with a smart store, they can simply grab what they need right there and then. Smart stores offer a range of products—from protein shakes and snacks to supplements and fitness accessories—all available 24/7. This convenience enhances the member experience, making your gym a go-to destination for their fitness and nutritional needs.
Place a Stockwell unit at your gym’s entrance for convenient access to beverages, protein shakes, and other cold items, while offering protein bars, headphones, and other necessities on the ambient side. Not interested in stocking ambient items? Then the PicoCooler Vision lets you maximize the amount of fresh food and cold beverage options for your members. Regardless of which smart store product you choose, the outcome will remain the same: increased convenience for your customers, which means increased revenue for your gym. Let’s take a closer look at how:
- Impulse Purchases: Members are more likely to make impulse purchases when they see products displayed conveniently. That protein bar they didn’t know they needed becomes an easy grab post-workout.
- Higher Margins: Smart stores allow gyms to sell high-margin products directly to members, cutting out the middleman and increasing profit margins.
- Data-Driven Sales: Advanced smart stores come with analytics capabilities, enabling gym owners to track sales trends and inventory levels. This data can inform restocking decisions, promotional strategies, and even product placement, ensuring that the most popular items are always available.
Apart from the revenue boost mentioned earlier, smart stores bring extra benefits to gym owners as well.
Enhancing Member Retention
A well-stocked smart store can significantly enhance member retention. When members know they can rely on your gym for their fitness and nutritional needs, they’re less likely to look elsewhere. Offering exclusive products or discounts to members can create a sense of community and loyalty.
Promoting a Tech-Savvy Image
In today’s digital age, tech-savvy solutions like smart stores can enhance your gym’s image. Members, especially millennials and Gen Z, appreciate innovative approaches that make their lives easier. Gen Z is also 30% more likely than other generations to consider self-checkout a key component of convenience. By incorporating smart stores, you position your gym as a forward-thinking, modern facility.
Marketing Opportunities
Smart stores open up new marketing opportunities. Imagine having a digital screen by your smart store that showcases promotional videos, member success stories, or special offers. You can also collect email addresses or phone numbers for future promotions, driving engagement and loyalty. Incorporating smart stores into your gym is a win-win situation. Gym-goers come back to the gym repeatedly because they receive exactly what they need, precisely when they need it, thanks to the smart store convenience. Implementing a smart store might seem like a significant investment, but the returns in terms of member satisfaction, loyalty, and revenue growth are well worth it. And if operating the store yourself doesn’t make since for your business, we can put you in touch with a third-party operator. So, are you ready to boost your gym’s revenue with smart stores? Let’s make it happen. Get in touch with 365 Retail Markets with the form below and let’s see how we can help your gym and fitness center.
Boost Your Gym Revenue