Those of a certain age can remember businesses handing out punch cards as an incentive/loyalty program: buy five frozen yogurts and get your sixth free! And we knew why they were doing it: anything that got customers back in the store meant more profits.
That old fashioned idea has grown up as our economy has digitized. Today’s sophisticated businesses not only have digitally tracked loyalty programs, but also mobile apps that offer more than just the company’s core products. As the company-customer relationship involves evermore data, companies can leverage Web3.0 functionality to offer meetups, one-of-a-kind products or experiences, and so much more.
And the fitness industry is no exception. With Peloton having exploded in popularity during the COVID pandemic and new wall-based fitness communities springing up, we’re seeing companies looking for creative ways to engage their customers. New companies like Swagger are using Blockchain and decentralization to create decentralized fitness concepts. Web3.0 enables people to create communities based on different people’s interests, and with our fitness relationships increasingly digital in nature, there’s no reason that such communities won’t explode in popularity moving forward.
So, the next time you tap your phone to check in at the gym, think about the products and services some unseen technical guru behind the scenes is coming up with. And don’t be surprised if you’re invited to join a live worldwide Stairmaster competition, lakeside yoga retreat, or a gaming environment that pays you to workout.