Wodify’s Customer Retention Plaftorm provides your businesses with various ways to sell retail items, such as Point of Sale, Self-Service Point of Sale, Inventory Management, and the cutting-edge Wodify Payments Card Reader. Incorporating retail sales into a fitness business can be an invaluable source of supplementary revenue alongside your membership fees.
In this Behind the Numbers, we explore the portion of our customers' revenue derived from retail sales, the types of items sold, and a fun look at t-shirt sales!
We looked into data of our Wodify users in the last 2 years, and found that retail sales are a great source of revenue for our customers:
Diving deeper, here are the top retail categories for our businesses
The top 3 product types sold in retail were Apparel, Beverages, and Supplements. The graph below shows the monthly number of products sold in each category per business. Here are some key takeaways from this chart:
We analyzed sales over the last 2 years of one of the most popular items sold by fitness businesses: the t-shirt. In total, over 200,000 t-shirts were sold via Wodify in the last 2 years. But, when is a client most likely to buy a T-shirt?
Here’s what we found:
1. T-shirts are Marketing Assets: Clients repping your gym, school, studio, etc will help increase leads coming to your business. We’ve found that new clients are purchasing their first t-shirt within the first 90 days. New clients rocking swag from your business may indicate that they are enjoying their fitness experience at your business, and will be retained.
Do 90 days sound familiar? In a past BTN, we found that clients who reach the 90-day mark are more likely to be retained. Want to track your 90-day retention rate? Use Wodify Insights and manage your Business Health!
2. Online Retail and E-commerce: Setting up an online store, allows you to expand your store and sell to a broader audience. Providing a seamless online shopping experience will increase customer engagement.
Wodify has multiple options for selling retail online- but have you heard of Wodify Payment’s Card Reader? Wodify Payments customers can now use our newest card reader to help your business generate additional revenue to process in-person payments for retail, client invoices, and drop-ins.
3. Retail Expansion: Explore opportunities beyond t-shirt sales by offering fitness equipment, accessories, supplements, and branded merchandise. Diversifying your retail offerings can generate more revenue and cater to different customer preferences.
4. Promotional Bundles and Upselling: Increase retail sales by creating discounted product bundles and training your staff to upsell by highlighting benefits and offering personalized recommendations.
Wodify’s Customer Retention Platform allows you to easily set up online retail with discounts, promo codes, bundles, and more! Our platform is designed to support all your business needs- including retail.
5. Customer Feedback and Trends: Gather feedback to understand customer preferences and trends, optimize your inventory and introduce new products aligned with customer demands.
Need to analyze the trends in your gym? Wodify’s Custom reporting is a powerful tool that enables you to have complete control over your business data, so you can easily analyze and improve your business.
We hope you found these insights & advice useful for your business! Keep an eye out for more posts in this series as we continue to explore the data in Wodify.
If you aren’t using Wodify yet, you can book a free consultation here.
Want to keep learning? Check out our other Behind The Numbers posts: