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Placer Bytes: Planet Fitness & Sprouts

Source: https://www.placer.ai/blog/placer-bytes-planet-fitness-sprouts/

Planet Fitness Poised For Big 2021

The wider fitness sector is seeing all the signs of a significant offline recovery, and one brand that could be poised for a huge year is Planet Fitness. Planet Fitness, one of our 2021 winner predictions, hit an impressive milestone the week beginning April 12th. With visits up 4.0% compared to 2019, the brand saw growth on a relevant comparison for the first time since the start of the pandemic. And there are several reasons why this accomplishment is especially impressive.

While Planet Fitness has been rising since the retail reopenings began last spring, the company faced unique recovery challenges. The fitness sector aims to bring together lots of people in an enclosed space – something less than ideal for the pandemic environment. And normal routines around work and school were fundamentally disrupted.

Yet, even following those challenges, visits are on the rise, and it doesn’t appear that they will slow down. Looking at visit percentage by time of day for the first two weeks of April compared to the equivalent weeks in 2020 and 2019, shows that the current pattern closely mirrors those from a normal 2019 period. This strongly implies that visitors are back to regular routines, showing that the surge should sustain. Additionally, the jump in April is important as the gym sector normally sees visits decline in the spring, as the promise of New Year’s resolutions begin to fade. The delay and the corresponding pent-up demand could actually drive more activity during a period not known for seasonal strength.

The brand will likely also benefit from the value orientation of its model in a post-COVID environment defined by economic uncertainty. Finally, the struggles of other competitors combined with that reach and value, could position the brand to fill the vacuum left by closing competitors. The result of all this leaves a myriad of reasons to feel even more confident about Planet Fitness’s 2021 potential.

The Regional Silver Lining for Sprouts

Sprouts has ridden the same waves as much of the grocery sector in 2021 with early strength hit hard by inclement weather before returning in March and April. But, the brand’s recent performance – visits were down just 5.2% and 4.4% the weeks beginning April 5th and 12th compared to the equivalent weeks in 2019 – may actually be obscuring the true 2021 upside.

While visits were down just 5.2% and 4.4% compared to 2019 the weeks of April 5th and 12th, they were down 7.7% and 10.8% in California those same weeks. And considering that California has the largest number of Sprouts locations, a stronger rebound in this state could lead to a significant spike in visits. This means that a full recovery could be just a state’s fuller reopening away.

To learn more about the data behind this article and what Placer has to offer, visit https://www.placer.ai/.

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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

DATA PROVIDER SPOTLIGHT

ForwardKeys

ForwardKeys is one of the leading travel analytics firms that provides investment firms with alternative and predictive data on the travel industry. Data is offered both on the demand and the offer-side of the aviation market.

Actual Air Reservations is an aggregation of flight bookings made via the Global Distribution Systems. Exclusive agreements make that global travel data is available, including regions that are generally difficult to track. This data contains valuable insights into the profile, behaviour, and impact of events on past, present and future air travellers.

Seat Capacity provides insights into the scheduled flights from 99% of global commercial airlines.

Financial institutions use this data for artificial intelligence and predictive models to forecast the performances of businesses. Combined, the datasets can provide insights into the financial health of businesses operating in the travel and tourism industry. This list contains companies like airlines, airplane leasing companies, oil companies, hotels and travel agencies.