Living
Olympic training in ancient Greece. Yoga in India. Tai chi in China. Needless to say, the concept of exercise has been around for a while. Yet fitness, as we know it, emerged less than 200 years ago – and it keeps evolving. Explore the hottest trends in the fitness world, and find out why the value of the global fitness industry is over $87 billion.
The fitness industry saw a huge decline during the pandemic, with a dramatic switch to at-home workouts and a general decline in physical activity nationwide. However, in a 2021 study, two-thirds (64%) of people said they are making exercising a priority for improving their physical and mental health in the wake of coronavirus. It’s a trend that’s continuing, and in an interview with Bloomberg Josh McCarter, chief executive officer of the fitness booking platform MindBody commented ‘Covid-19 has pushed people to think about health more holistically.’
One thing that isn’t changing is the movement to working out-from-home – so where to begin?
Tech is taking over home gyms. There’s JaxJox’s digital kettlebell system; Tonal, the all-in-one smart gym; the Tangram smart skipping rope; NURVV insoles or Hexoskin clothing, both delivering truly personalised training using cutting edge technology.
Since the first pedometer was invented by Abraham-Louis Perrelet in the late 1700s, wearable tech is now the top fitness trend since 2016, (think Apple Watches and Fitbits) and has evolved into truly personalised healthcare devices – clocking sleep patterns, stress levels, menstrual cycles and even fertility windows. And now with augmented and virtual reality headsets (Oculus Rift, Microsoft Hololens etc) users can create any bespoke fitness environment from the comfort of their own home.
Peloton streams classes for its sophisticated bikes and treadmills. Mirror offers live and on-demand fitness classes on a hidden LCD screen. For those who miss their old classes, but can’t make it back into the gym, brick-and-mortar ones like Barry’s Bootcamp and Core Collective also offer virtual versions of their in-person classes – and a whole host of other live virtual classes can be found on MindBody or Classpass.
Merging virtual reality with working out, Fit XR claims to put ‘the fun back into exercise’ by turning fitness into a game. The catch? Body movements control the game. Scientists say VR workouts make exercise 26% more enjoyable.
There’s an app for that.
Health app downloads skyrocketed by nearly 50% in the first half of 2020, and while that number dropped in 2021 – sessions increased 31%, with users favouring a Sunday workout.
Popular apps included MyFitnessPal, which tracks diet and exercise, and meditation apps like Calm and Headspace.
Sources: Bloomberg.com; bhf.org.uk; policyadvice.net; hfe.co.uk; bbc.com; businessinsider.com; acsm.org; cnbc.com; vocast.com; digitalcommerce360.com; sourcingjournal.com; lamag.com; actionnewsjax.com; weforum.org; businesswire.com; forbes.com; American College of Sports Medicine; adjust.com
Black MondayOn 19 October 1987, the stock markets experienced a dramatic plunge that prompted many firms to shut down their trading desks and turn off their phones to minimize internal losses. Raymond James refused to do the same. Our desks stayed open to help meet clients’ needs, resulting in our first and only unprofitable quarter since the firm went public in 1983. |
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Who was Raymond James?The Raymond in our name is actually from Edward Raymond, owner of a 15-employee mutual fund sales group, Raymond and Associates, along Florida’s west coast. He sold his company to Bob James on 15 July 1964, on condition that the surviving firm be called Raymond, James & Associates. Three days after the sale, Ed Raymond was involved in a near-fatal automobile accident and never joined the firm. Nonetheless, even after Raymond had passed away, Bob James insisted that his name remain on the door – ahead of James’ own. That was a promise he made to Ed Raymond three days before the accident, and Bob James was a man who kept his promises. |
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Bear Market of 1974The severe bear market of 1974 threatened the existence of Raymond James, which was bleeding capital by the day. Tom James, his father and other leaders took extreme measures to keep the firm afloat, slashing costs, foregoing paychecks and even attempting to sell the firm for just enough capital to protect client assets and retain as many associates as possible. The story could have ended very differently if not for a sharp upturn and continued rebound in the stock markets late in the year. |
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Taking Raymond James PublicWhen consideration was being given to taking Raymond James public, Tom James penned a letter to shareholders (largely employees at the time). ” … the public offering should be considered as a statement of our independence. While this is a psychological rather than an economic rationale, it is nonetheless very important. We have asserted for some time that we are not interested in becoming a small part of a very large corporation. That assertion results mainly from the inclinations of management rather than the economic benefits associated with either alternative. The public stock offering affords us the opportunity to enjoy a little bit of the best of both worlds. While shareholders will be given liquidity at fair market value, we will still have the ability to control our own destiny.” After 40+ years of Tom’s leadership, upon becoming CEO, Paul Reilly was often questioned about whether the company might ultimately surrender its cherished independence and be acquired by some larger entity. His response: “Not while I’m around.” It’s a theme that continues today. |
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