The rise of the middle class and the government’s praise for fitness policies are driving the explosion of fitness technology in China and India.
From 2013 to September 10, 2017, the equity transactions of fitness technology start-ups disclosed by international (non-U.S.) accounted for about one-third of the global fitness technology trading shares. India, Canada, Britain and China account for a fifth of international transactions.
The Asian market witnessed the explosion of fitness technology start-ups. The following figure shows some international fitness technology start-ups with the most abundant funds in the world. There is a significant concentration of fitness technology companies in India and China.
The rise of fitness ecosystem: why India and China?
Mobile technology is developing rapidly in developing countries, enabling more people to experience rich fitness technology.
In addition, the Indian and Chinese governments are also advocating the implementation of relevant policies. In June 2016, the State Council of China issued the strategy of implementing national fitness by 2020.
In India, NSDC, a national skill training institution under the government, is funding K11 Fitness Academy in North India. In order to promote India’s growing fitness industry, the college will also provide personal trainer training.
Typical case 1: India curefit
Curefit is India’s richest fitness technology company, located in Bangalore. The company has provided a comprehensive health and wellness platform and has successfully raised US $46 million.
Curefit provides a three pronged platform, including eat.fit (Nutrition Service), cult Fit (non machine fitness course), and the latest mind Fit is a mental health platform.
The start-up adopted a mobile first approach, using mobile apps to track users’ health data and reward them for healthy activities. The trainer interactive app guides trainers at the cult fitness center to help them improve their personal training services.
In addition, its acquisition strategy is very active, which helps curefit achieve rapid expansion.
Typical case 2: keep, a Chinese fitness app, has more than 100 million users
Although it is still in the initial stage, the Chinese fitness market is rapidly expanding. The Chinese fitness app keep will announce in August 2017 that it has exceeded 100 million users.
Keep provides an exercise program. Users can experience and browse exercise videos for free and track exercise.
By integrating social media and e-commerce into its applications, keep has successfully realized differentiation. It is a fitness tool product with social attributes. The social media component of the app can not only allow fitness enthusiasts to publish and share their own exercise results, but also allow fitness brands to create social activities and promotions in the app for fitness courses and other services.
In terms of e-commerce, it is also very convenient for keep to provide online stores to purchase fitness equipment (using wechat payment or Alipay as a mobile payment method). The company also noted the cooperation of sportswear brands in fitness clothing and product promotion.
Post time: Aug-07-2022