First, the current situation of the yoga industry market
1, Market size
In recent years, China’s yoga market continued to grow, according to Aer I until 2018, the size of the yoga market reached 32.21 billion yuan, is expected to reach 39.39 billion yuan in 2019, to reach 46.76 billion yuan by 2020. The growth in the yoga market is mainly due to yoga vertical products, fast-growing pan-population and core population income, as well as offline yoga studios and studio sorgand sorgin.
2, Venue distribution
In 2018, the national yoga venues reached 30000 plus, and the level of urban consumption is an important factor in the development of yoga studios. In addition, the different urban development of yoga is related to the size of the population, the popularity of the yoga industry, and the tendency of regional consumption.
Yoga studios in first- and second-tier cities are relatively developed and diverse in form, including large and medium-sized, small and medium-sized and small-sized. From the business model, large and medium-sized yoga studio operating costs are relatively high, because the overall equipment requirements are high, and need to bear more teacher costs, but the unit price and the size of students is also larger. Small and medium-sized yoga studios feature more distinctive yoga classes, such as parent-child yoga for the mom group, to attract more meta-groups, depending on the needs of different groups of people. The small yoga studio can customize the individual practice plan according to the students, and the service is more refined.
3, Investment and financing situation
Investment and financing concentration is high and the rotation is compact, in the first half of 2011-2018, a total of 27 effective investment and financing were recorded, and concentrated in round A, the cumulative investment and financing amount of the industry totaled 660 million yuan.
The data show that the yoga industry as a whole is small in terms of financing, with slow business expansion and no explosive unicorn companies. On the one hand, the business of yoga comes mainly from the course service. Based on its service characteristics, business expansion costs are high, and profit takes 2-3 years, so the early capital entry is slow, on the other hand, the growth of the general group of yoga mainly comes from the last two years, and the crowd consumption behavior has a certain lag, Avery data predicts that the next five years can expect the emergence of large chain institutions.
4, The industrial chain
Yoga is centered on class services (mainly from offline yoga studios) and has resulted in an industrial chain that includes coaching, yoga penetration, clothing accessories and business training.
1) Clothing and accessories appeared earlier, but at this stage the distribution of enterprises in the industry is more dispersed, the giant brand is more vacant, the market has not yet entered full competition.
2) Online yoga teaching platform is currently slightly lagging behind the entire yoga industry, so at this stage for the enterprise layout period, with the increase of yoga awareness, the entry cost of this kind of market will continue to increase.
Early entry enterprises are now gradually occupying the market, such as daily yoga, realistic yoga, happy wisdom source living water, Xiaoxiao one yoga online learning platform, Amber Yoga, Qingbo Fitness College and other public knowledge stores. This type of business is generated by the growing demand of yoga enthusiasts (social, class cheap, etc.), the desire for business operation knowledge of small yoga studio owners, and the need for large and medium-sized yoga studio membership management and marketing. At the same time, enterprise service providers serving such enterprises have also become an important part of the industrial chain, such as SAAS service providers, such as the creators, weChat public number, small programs, APP, PC network school and other ways to help enterprises layout line.
3) Yoga instructors are a special presence in the yoga industry chain. Yoga instructors are deep consumers and service providers of yoga services, and may become yoga studio owners. As a result, businesses and institutions that specialize in providing services to yoga instructors are growing.
Second, yoga user practice behavior
1, the scale of the number of exercise
In recent years, with the increasing disposable income of residents and the increasing awareness of health care, the awareness of yoga has been increasing, and the number of yoga exercises in China has increased steadily, reaching 12.5 million in 2018.
2, yoga users and practice frequency
Yoga users aged 1 year and above accounted for 42.2%, high exercise stickiness, users are relatively stable and long-lasting. Users practice frequency level in the high, adhere to practice 3 times a week or more accounted for up to 65.7%.
3, yoga participation mode
Overall, accepting online video yoga teaching is more common among Chinese yoga users. 62.4% of users chose the yoga teaching app APP, 50.8% chose online yoga teaching videos, and 35.2% chose to go to the gym for yoga classes.
Users are more loyal to the yoga class APP, and the overall average recommended value of the online yoga class APP is 69.4%. Online yoga classes bring users the convenience of practice, practice time and place is relatively free, can support the Chinese yoga users outside the yoga studio to carry out effective practice needs.
4, consumption structure
In 2018, 84.6% of yoga users are expected to spend more than 1,000 yuan a year, and almost all of them have consumed yoga-related products. In addition, data show that yoga users often spend money on clothing, classes, other items include accessories (yoga mats/bricks, etc.), smart equipment.
5, choose attitude
Users chose the yoga brand to focus on course design, 41.5 percent of users put the content of the course in the first place, 37.4 percent said the quality of the course (coach) is very important, 18.6 percent consider the curriculum is diverse.
Only 0.1% of Chinese yoga users said they would definitely not continue to practice yoga in the future, while 74.3% said they would definitely practice it. The data show that yoga users are very loyal, and once they are given quality service, the turnover rate will be much lower than other types of sports.
Third, the yoga industry user portrait
1, the main group is 80, 90 after the first and second-tier city women
Women are the main service object son in China’s yoga industry, accounting for an absolute advantage in quantity, accounting for as high as 94.9%; It can be said that today’s “after 80”, “after 90” first- and second-tier urban women’s groups are the main group of Chinese practice yoga.
2, pay attention to physical health, the pursuit of quality of life of the modern elite group
Yoga users are relatively concentrated in all levels of enterprise white-collar workers, institutions engaged in business and professional and technical personnel, private entrepreneurs and other elite people are creating social value, accounting for a total of about 74.3 percent. 65.8% of Chinese yoga users earn more than 5000 yuan a month, 41.4% can reach more than 8000 yuan.
3, nearly 60% of users are driven by the need to improve their self-active understanding of yoga
57.7% of Chinese yoga users are driven by the need for self-improvement, actively search ingress and understand yoga activities, and thus become yoga enthusiasts, compared to the influence of people around (23.7%), offline advertising (6.0%), auxiliary rehabilitation needs (6.0%), online advertising (5.7%) and other external factors, yoga users are more powerful internal motivation.
Fourth, the development trend of the yoga industry
1, the trend of development
In the future, the yoga industry will gradually shift to a value-driven basis driven by curriculum and service orientation, so the proportion of revenue generated by the course will continue to increase. At the same time, to undertake the amount of decision yoga studio income level, online and offline operation will provide a channel for yoga enterprises to expand capacity, or the emergence of a national brand of yoga enterprises.
2, yoga industry pain point
The yoga industry is in the early stage of development, facing common problems including imperfect system curriculum, insufficient supply of supporting services, weak commercial operation ability and so on. The founders of the yoga studio are mostly yoga instructors, this group of people are usually professional, but the business operation ability is weak, so in the early stages can not effectively use marketing, sales and other means of profit.
Traditional offline yoga studio stoush capacity and coverage is limited, but can bring more direct teaching interaction and more systematic exercise program, so widely welcomed by students, online classroom is a quick promotion of the public understanding of yoga activities, while with the advantages of practice time, location freedom, but the disadvantages of online learning can not be video-corrected posture, there is a reduction in the results of practice, easy to cause user loss.
With the rise of knowledge payment, the willingness of online courses will continue to rise, online and offline combined development, online publicity, promotion, powder, and then online users to the offline venues, better maintenance of online mainstream user groups will become the best future development model of the yoga industry.