PTON - Macquarie eyes FitTech revolution as new players step out

Macquarie analyst Paul Golding and team think the FitTech revolution during the pandemic will continue with rapid advances seen leading to more market share grabs. The firm notes that the FitTech landscape includes apps like Peloton Interactive Digital (PTON) or Planet Fitness' (PLNT) iFit, live interactive platforms (Peloton, Soul Cycle (SOULC), Echelon), hybridized virtual + bricker & mortar and Instagram/Facebook/YouTube channels used by brick-and-mortar retailers to minimize attrition. On the subject of attrition, Macquarie says a recent survey conducted by the firm indicated that gym attrition rates may be on the rise. "Of the 22% of respondents who currently have gym memberships, 28% of them are considering cancelling their memberships in the next 60 days, including 12% that are 'likely' to cancel. This also compares to new gym registrants as similarly dire, as only 14% of those without a gym membership are possibly considering signing up for a new membership, including

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Macquarie eyes FitTech revolution as new players step out