Most shoppers can resist the urge of their impulses when it comes to making purchases. They withhold the desire to go out and buy the first television they see at Best Buy in lieu of making an informed purchase. They take their time to research products of interest to them on the Internet or ask friends for testimonials in order to determine the best brands and deals. A little backend exploration even goes into decisions as simple as where to go to dinner on a Friday night. Consumers want to ensure they are making the best decision with their money, and who can blame them in this economy.
Bulk Buyer Sites Change the Marketplace
Sites such as Groupon, LivingSocial, Gilt Group, and 8Moms have changed how people make purchasing decisions. These sites operate by attracting large numbers of consumers to purchase deeply discounted deals from local restaurants and retailers. More often than not, these deals aren’t necessarily something you are in the market to buy; however, the deal is just too good to pass up! A common example is a local retailer offering $30 worth of merchandise for $15. It is hard for your average shopper to pass up deals as good as this. These sites use basic demographic information to choose deals that are likely to pique your interests. The discounts are offered for a limited amount of time creating a since of urgency in making a purchasing decision.
Retailers are jumping at the chance to get in on these deals as well. Such group buying sites often bring in new customers who might have never tried their restaurant or store, and it gives current customers the opportunity to try something different than they would normally purchase at full price.
Applying Group Buying to the Health and Fitness Industry
There are several group buying sites that are tailored specifically to a niche audience rather than for mass appeal. FillMyGym, a group buying option for the health and fitness industry, is available for gym and fitness center owners. It offers gym owners the opportunity to explore purchasing products for their facility that they would not otherwise consider. As with bulk buying sites, the deals are only offered for a limited amount of time.
A site targeted toward the exercisers themselves is Nexercise which works like this: a user exercises with their smartphone on them. After at least fifteen minutes of exercise, they earn a choice of three deals on healthy foods, services, or lifestyle products. When they are ready to redeem the deal, they present the mobile coupon to the respective cashier, and pay the discounted price for the goods or services.
Another example is FitnessCouponClub, a site for fitness professionals offering products and services to consumers locally or globally.
What other niche sites will target the health and fitness industry? Time will tell!
Hossein Noshirvani is the Executive Vice President of Motionsoft, a leader in gym management software. He has been involved in the health and wellness industry for over five years and has in-depth knowledge and keen insight into the industry. Follow Hossein and Motionsoft on The Circuit, An entertaining and informative blog for owners, managers, and investors in gyms and health & fitness facilities.