Health Tech taking center stage
Covid-19 has catapulted wellness into the limelight. The top mobile wellness apps are poised to cross one billion worldwide downloads in 2021.
With consumer spending on wellness apps forecast to achieve $1.6billion in 2021, there is an evident trend showing more people are turning to tech to improve, monitor, and better understand their health.
As Nicole Dunn, the CEO of Dunn Pellier Media, explained, “The fitness world has reinvented itself, and its platforms for the at-home workout demand follow what companies like Netflix and Hulu did for entertainment. Brands like Peloton and The Mirror have virtually changed the way many of us work out at home.”
But it’s not just the at-home workout that’s become increasingly popular. Apps like Wysa, Calm, and Headspace, which deal with stress and anxiety, are coming into their own. The weight loss arena has seen a wholesale shift from 1-2-1s and in-person membership groups to a predominately online experience, as evidence by the growth of WW (formerly Weight Watchers) and Noom.
In yet another cultural shift, the pandemic has seen a move from gyms and sports clubs to home workout. Covid-19 “changed everything for Peloton,” says Lynch, who’s been Peleton’s company’s president since 2017. “We saw what was already a rapidly growing business just explode.”
Home workouts are here to stay, with surveys showing that three-quarters of people who started doing them since March 2020 intend to continue home surveys post-pandemic.
The launch of the Apple Watch in 2015 started the wearable technology shift. A host of other applications have since hit the market, and analysts expect more fitness apps to be integrated into wearable devices.
The rollout of 5G will help accelerate this trend. Health and fitness apps will have seamless connectivity with wearable devices that monitor body temperature, blood sugar and heart rate, and blood oxygen detection capability.
As the pandemic continues to be part of our way of life, wearables with built-in thermometers can also warn of potential infection and potentially help epidemiologists track the movement of infection rates. According to Grand View Research, the wearable technology market is currently valued at $37 billion and is forecast to hit one billion connected wearable devices by 2022.
The challenges in scale for Fitness Tech
Rapid growth presents challenges. A common one is in maintaining a solid customer experience. Scaling sales without scaling CX eventually leads to erosion of brand trust.
Winning a new customer can cost five times as much as retaining an existing one. An outstanding customer experience is critical to building customer loyalty. By working with experts in the field, who love what they do, you can grow your business – and strengthen your reputation – more quickly.
How Enshored can help
Enshored is at the vanguard of professional customer management for disruptive start-ups.
We augment, build and support customized customer experience for digital CX.
We provide the people, the culture, the operating system for seamless omnichannel 24/7 support across the Health tech vertical.