How the Corona Virus Pandemic effected Xstream Gym treadmill, exercise bike, and fitness equipment sales 2020 | Author: Joe Carrington | Blog Spot
The global home fitness market has surged 40.4% from $6.76 billion to $9.49 billion in 2020. Home fitness equipment sales are set to further increase up to 60% in 2021. So, what does this mean for home gym equipment suppliers across the UK.
Most UK gym fitness equipment providers have reported mass stock shortages throughout 2020 during the entire duration of the Corona Virus pandemic. The covid 19 strict lockdown rules have resulted in millions of residences craving some kind of physical exertion whilst trapped indoors throughout the pandemic. Online ordering surged throughout the UK and Gym fitness equipment was one of the best performers for home purchases during this period. Within the first 2 weeks of March 2020, Xstream Gym reported sales in 14 days equivalent to their entire sales for 2019.
“We were really taken back by surprise, our A6 Billna treadmill and X2 Chunk Spin cycle sold out within 10 days, we sold enough fitness equipment to sustain our business for the next 3 years” Hassan Shah – CEO
Gym closures have also led to fitness brands and retailers booming in sales for products such as treadmills, spin cycles and exercise elliptical machines in addition to all thing’s fitness. UK shortages for dumbbells and other basic style equipment also gripped Britain for several months From February 2020 to April 2020, until some normality commenced in mid-April 2020. The global shipping crisis in addition to Chinese factories struggling to keep up with demand also heavily impacted the global shortage in fitness equipment market.
“Although our Billna A6 Treadmill and X2 Hurricane chunk spin bike sales went through the roof, our biggest dilemma wasn’t whether or not we could sustain our business during the Covid pandemic like some many other thousands of businesses, on the contrary, our dilemma was how on earth can we get more stock in for our customers quickly enough.” Hassan Shah | CEO | Xstream Fitness
In the case of home fitness apparatus sales in the UK throughout 2020, you could argue those in the fitness sector were in the right place at the right time. Xstream Gym saw an x18 times growth in certain months from previous years. They were quick to act and were fortunate enough to rapidly re-invest proceeds from sales into new stock. The strong supplier, customer relationships Xstream Gym had forged with its manufacturing partners for many years meant they were able to keep a steady flow of stock throughout 2020, although many other companies failed to do so including market leaders such as Peloton.
Business opportunists looking to capitalize from the home fitness boom in the UK found themselves entering into a busy world of fitness equipment sales. But often the prices were tripled or doubled due to the market shortages by many new traders in the industry and seasoned fitness suppliers.
“Fitness has been our domain for 7 years, we had some luck of course with the lock down restrictions, but we conducted business ethically, frankly, speaking what some sellers did with prices hikes was unacceptable, preying on people’s needs during a tough time is completely unethical.”
Gary Richards | Finance Director | Xstream Gym
Xstream Gym kept prices at steady lows throughout 2020 but were not averse to slight price increments in line with global material costs hikes and freight shipping charges increases of almost 6 times.
“Container charges jumped up from $2000 per container to $20,000 per container but we kept our goods priced the same, taking a huge hit on our profits, we did our best to keep our base line prices for both treadmills and spin bikes at an affordable price.”
Gary Richards | Finance Director | Xstream Gym
Many of the new pop-up retailers selling on the likes of eBay and Amazon were quickly shut down due to quality issues and failure to comply to documentation compliance and UK product safety standards.
“Some rogue traders supplied sub-standard products with little or no UK safety compliance, we were astonished to find so many customers with horror stories of awful quality gym equipment they received.”
Xstream Gym reported 24% of its treadmill and exercise spin bike sales in 2020 were generated through customers defecting from goods purchased through either Amazon or eBay UK. Customers reported quality issues and poor levels of customers services as the main issues which led them to requesting refunds and turning to more well-established brands like Xstream Gym. Xstream Gym’s 14 day no quibble money back guarantee and 3 year motor and electrical components warranty is understandably comforting for customers wary of buying treadmills and home fitness equipment online again after being let down by previous suppliers.
“I didn’t mind paying a bit extra after the experience I had with eBay, I heard about Xstream gym through a friend, I check out the website www.xstreamgym.com and ordered an A6 Billna Treadmill for myself and an X2 exercise bike for my wife, it was really easy to order, they had online chat on the website, so I asked many questions about the treadmill, and spin bike, I got all the information and ordered within minutes, it was straight forward, goods arrived next day, everything was simple and easy and both treadmill and spin bike were amazing and affordable.”
Jordon Smith | Xstream Gym customer | London
All-in-all the corona virus pandemic in 2020 has affected the lives of almost everyone in the UK. During this testing time home fitness equipment has served the nation as a remedy to the ongoing bazaar situation the citizens of the UK find themselves in. weather it’s a treadmill running machine or an exercise spin bike, home fitness equipment has become a friend, fitness equipment has helped the nation keep sane and healthy whilst the nations subjects are confined to the walls of their own homes.
We can all take comfort in knowing whilst difficult times may lay in wait ahead, companies like Xstream Gym will remain committed and loyal to their customers, offering quality home gym products at affordable prices whilst remaining ethical and keeping up with its high level of service to its customers.