­ƒôà FitX Programming Updates

We hope everyone is staying safe, healthy, and FIT during this uncertain time. If you haven’t had a chance to check out Sonja Manning’s streaming yoga classes, you can read about the workout and sign-up here.
 

WFH? How about WOFH (Workout From Home)?

Members of our FitX leadership team are conducting some market research and customer discovery around at-home fitness trends in partnership with a Ross alum. While the COVID-19 pandemic has greatly impacted the fitness industry as we know it, we are seeking to understand consumer behavior and preferences with moving to at-home and digital models. The survey (it has been at least a month since someone asked you to take a survey right?!) will take approximately ten minutes to complete and all data will be used to help us inform our viewpoints on the future of fitness. Please note all of your responses are anonymous and will remain anonymous as we analyze the trends and findings. Do your FitX friends a favor and take the survey here.
 

­ƒæÅ FitX Feature: Sarah Jacecki ‘21 & Goodpath

Goodpath Launches Virtual Integrative Care & a special Ross Promo

Ever feel like traditional healthcare isn't working for you? So did the founders of Goodpath. Looking for a way to access high-touch, personalized, longitudinal, and affordable healthcare, they set out to build something new and better. Goodpath offers virtual integrative care for common conditions - right now focused on back pain, sleep issues, and IBS, with more conditions to come. Goodpath’s treatments are: 

• Personalized: Treatment designed for each person’s unique symptoms and individual goals, with 1:1 support from dedicated coaches.
• Anywhere, Anytime: Digital care available 24/7, with access to your team at the push of a button.
• Effective: Integrative programs that combine the best of conventional and complementary medicine, with treatments that can be seamlessly incorporated into your everyday routine.

Goodpath is offering an exclusive promo for Rossers. Sign-up now for a 14-day free trial and 25% off your first month using code UMICH. Additionally, if you are willing to give 30 minutes of your time to participate in a user feedback interview, please reach out to Sarah Jarecki (jareckis@umich.edu). 

ÔÅ® Industry Highlights

The Debate: Open or Closed?:
According to a Washington Post poll, 78% of Americans oppose reopening gyms. This hesitation is valid. Thus far the virus is more likely to spread indoors in smaller contained areas, and the spread is exacerbated when people are projecting their breath, like when they are sprinting on a treadmill. Different gyms have begun to map out their approach to re-opening. Life Time Fitness, has a 400-page manual, Equinox also rolled out a laundry list of requirements. Even before the shutdown we saw reduced capacity and social distancing in studios like Barry’s Bootcamp and SoulCycle. There’s no doubt that gyms and fitness studios create energy and community that is hard to replicate. The question remains how willing are consumers to return to gyms until a vaccine is widely distributed.

Are you getting your steps in?:
According to FitBit, users in major cities with strict lockdown such as LA, Boston, and New York saw a 15-20% decline in activity. Now as the weather warms up, it’s more likely that folks will head outside for some fresh air. We definitely recommend doing what you can to (safely) get outside and get some exercise.

Did you write your strategic dilemma on Peloton? 

Read here to see how the first-mover advantage played out. The in-home fitness giant got a lot bigger after their first Corona earnings call, reporting epic growth in usage and membership. 

#Ad #Fitness #IWellness - Instagram supports well-being with new “Guides”:

Do you feel like you are going on Instagram way more during this pandemic? Well, Instagram noticed and also knows many people are struggling with well-being, anxiety, and grief during this pandemic. They have responded by releasing “Guides - a way to more easily discover recommendations, tips and other content from your favorite creators, public figures, organizations, and publishers on Instagram.” To start, the feature is available only to a small group of vetted and hand-picked influencers and publishers. What social media platform do you think is going to double down on this “workout and be-well from home” trend next? To give you a clue about what we think, on TikTok, videos tagged #fitness have been viewed 23B times and #mentalhealth has logged 733M views. 

­ƒôê Financial Highlights 

• Tonal, a five-year-old, San Francisco-based connected fitness company whose $3,000 wall-mounted strength-training product, is looking to raise funding that would value the company at $250 million or more, reports Bloomberg. Earlier backers include L Catterton, Mayfield, and Sapphire Ventures. Crunchbase shows the company has raised $90 million previously. More here.

• New fitness unicorn. Chinese fitness app Keep raised an $80M Series E round at a $1B valuation

• A FitBit for babies? Nanit closed $21M in funding for its baby monitor, app, and wearables for infants. 

• Immunai, a startup using AI to map the entire immune system, announced $20M in seed funding

• FORTË, a technology and subscription-based streaming platform for fitness studios raised $1.25M in funding.

­ƒÿ£ FitX Fun Fact

Live sports returns! Nascar ran the Darlington Toyota 500 and four professional golfers teamed up for a skins match to raise relief funds for Covid-19. The pair of Rickie Fowler and Matthew Wolff defeated Rory McIlroy and Dustin Johnson, raising $5.5 million in the process. (Both without fans) 

The UFC resumed last week with 3 live events without fans in Jacksonville, Florida, and Tiger Woods and Peyton Manning beat Phil Mickelson and Tom Brady in an 18-hole golf challenge which saw $20 million donated to charity. Woods and Manning took down the title, but Tom Brady won the day after a dramatic chip-in for birdie, which lead the QB to split his pants. Seriously. Video here.