Connect with us

Business

Sales of fitness equipment soar by 15.1% on previous year, figures show

Published

on

Sales of fitness equipment soar by 15.1% on previous year, figures show



Sales of fitness equipment are soaring – up 15.1% across Great Britain on the previous year, new figures show.

The fitness equipment market – which includes exercise machines such as bikes, treadmills and cross trainers, smaller items like mats and gym balls, weights and other strength training equipment and yoga and Pilates equipment – grew by £396 million in the year to October 5, Worldpanel said.

The category also includes fitness technology such as pedometers and heart rate monitors.

Over the same period, the number of shoppers in the category grew by 7% – reaching 6.95 million, Worldpanel, formerly known as Kantar, said.

The number of trips by consumers to buy the equipment – including in to bricks and mortar stores but also via online shopping baskets – is also up 10.7% year on year.

The figures come as home exercise brands also report rising numbers of customer sign-ups.

Fitness platform Zwift said it had seen a 65% surge in active users in October compared with August, which it attributed to people turning to virtual travel workouts to beat the “winter slump”.

Its figures suggested that 75% of Britons admitted to a motivational slump about exercise in winter, and 83% “daydreamed” about travel escapes during darker months.

Zwift, which uses multiplayer gaming technology to allow cyclists and runners to train and compete across virtual destinations including London, New York and Paris, found that 44% of Britons said exotic scenery would motivate them to exercise more regularly, while 30% valued escapism that made them forget they were exercising.

Psychologist Dr Eleanor Bryant, from the University of Bradford, said: “More people are turning to immersive fitness platforms like Zwift during the darker months.

“Reduced daylight exposure can disrupt our circadian rhythms and lower serotonin levels, both of which influence motivation and mood.

“Engaging in structured, enjoyable exercise – especially when paired with stimulating visuals and social connection – can counteract these effects and significantly boost wellbeing.”

The spike in figures for home fitness pursuits follows PureGym revealing last month that it had set its sights on opening up to 60 new gyms in the UK this year amid a growing cohort of people prioritising fitness.

The gym operator, which is known for having many of its sites open 24 hours a day, said it was targeting rural areas and smaller towns as well as big cities.

Rebecca Passmore, PureGym’s chief operating officer, said its business model was resonating “in an era where people are not only placing greater importance on their health and wellbeing, but are also increasingly focused on value for money”.

The Gym Group also reported last month that it was on track with plans to open up to 16 new gyms this year to cater for strong demand among health-conscious Gen Z customers.

It reported that revenues grew by 8% to £121 million for the six months to June 30, compared with a year earlier.

Meanwhile, membership was up 5% at the end of the period compared with a year earlier, as it was also boosted by more regular trips to the gym by its customers.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

‘I left Wales and moved to England for free childcare’

Published

on

‘I left Wales and moved to England for free childcare’


Bethan LewisEducation & family correspondent, BBC Wales News

Robin Lloyd Robin Lloyd has short brown hair and is wearing a light green jumper. Behind her there are boxes of colourful toys.Robin Lloyd

Robin Lloyd said moving a few miles across the border meant she could now afford to have a second child

From her Monmouthshire home, Robin Lloyd was able to see houses over the border in England knowing the families who lived there could access free childcare for their babies.

Robin and her husband decided to leave Chepstow and Wales and moved a 30-minute drive away to Gloucestershire so they would be eligible for support for children from nine months old.

In Wales, free childcare for two-year-olds is being expanded, prioritising disadvantaged areas but there is no support for younger children.

The Welsh government said its childcare programmes were “sustainable” and prioritising “more disadvantaged communities”.

Robin, a 35-year-old nurse, started thinking about childcare during her pregnancy.

“I realised that I would be paying almost double my mortgage each month in childcare in Wales but I could see England out of my window and the people in the houses over there would be having financial support,” she said.

“I knew I wanted more than one child but the cost of childcare was going to mean that it wasn’t going to be possible until my son was pretty much four years old.

“We were very cautious about the whole process but eventually decided that the way to afford a family of two children was to move to England.”

The move to the Forest of Dean cost £15,000 in solicitors’ fees and stamp duty “but overall was going to be a heck of a lot cheaper than trying to pay childcare in Wales”.

‘Really sad about it’

Since 1 September, working parents in England have been offered 30 hours of childcare a week during term time for children aged nine months to four years old.

There have been concerns about the availability of places and the cost of extra, unfunded hours.

But Robin said she had been able to get two days of funded childcare a week for her one-year-old, while she and her husband work part-time.

“That makes it far more affordable for somebody like me who’s just a nurse,” she said.

“I don’t have megabucks to be able to afford a home for my family and to have childcare.

“I’m really sad about it. I’ve left my home. But ultimately, if it means I can have the family, it’s worth it.”

In Wales, there is currently no childcare funding for children under two.

However the Welsh government is rolling out 12.5 hours of free care a week for all two to three-year-olds under the Flying Start scheme.

It said it had reached 15,901children through the scheme by the end of 2024-25 – roughly 52% of two-year-olds in Wales.

The next phase of expansion in 2025-26, funded by an extra £25m, is expected to “reach more than 4,000 additional children”, it said.

A nursery worker wearing a red hoody is sitting around a low round table with four toddlers pretending to have a tea party. There is a small bed in the background with two teddy bears on it.

All nurseries in Merthyr Tydfil now offer free childcare hours for two-year-olds

The Flying Start scheme is being extended by postcode, focusing on the most deprived areas first.

Merthyr Tydfil has become the first county in Wales to offer a place to all two-year-olds under the programme.

It covered a place every afternoon at Little Rascals nursery in Merthyr for Grace’s daughter, which she describes as “invaluable”.

She thinks it is important that all parents of young children, not just those who are working, are eligible for the support, meaning there is a “level playing field”.

‘Swathes don’t benefit’

“It’s so beneficial to have this programme for Merthyr, for everyone living here to have the opportunity for their children to go into childcare at such a young age without any stress about fees,” she said.

On the same site, Ana’s son goes to the forest school, where the children spend most of the day learning outside.

Their postcode was the last in Merthyr to become eligible for Flying Start childcare support in April.

“It’s such a shame that there are swathes of our country that don’t benefit from that,” she said.

“You just have to set foot inside one of these nurseries to find out how children love being around each other and learning from each other.”

Grace has mid-length blonde hair and is wearing a striped lilac and yellow rugby-style shirt with a white collar. She is smiling with the nursery in the background.

Grace said it was right that all parents, not just those who are working, can get free childcare under the Flying Start programme

In Merthyr, council bosses said “100% of early years providers” were able to offer Flying Start places, with capacity for all two-year-olds in county.

“This has been achieved over a considerable period of time, ensuring that we’ve got enough childcare places and that’s really important in all of this – making sure that whatever we commit to we’ve got enough childcare places,” said Sarah Ostler, the early years and Flying Start manager for Merthyr Tydfil council.

She said they had used Welsh government funding to extend the provision and had made sure there was “a suitably-qualified and experienced workforce”.

But in Monmouthshire, a councillor said parents were acutely aware of the different offer over the border in England.

Conservative county councillor Lisa Dymock said a number of people had moved to the area from Bristol with many under the impression they would be offered the same childcare offer as in England.

“Whilst they may have settled and live in a lovely location like south-east Monmouthshire, they’ve now realised [they’re] not entitled to this free childcare and they’re having to re-examine their budgets and their outgoings, which is hard for a young family,” she said.

‘Making a real difference’

Ms Dymock said that while Flying Start was “a very good scheme” it did not help women who needed to return to work and she wanted the English offer matched in Wales.

“I think that will help the household income, residents’ careers but also children’s development,” she said.

“I just think it’s a huge benefit and it’s what my residents are asking for – it’s what people want.”

The Welsh government said its childcare programmes were “making a real difference for families across Wales”.

It said the flying Start programme was now being extended two all two-year-olds.

“We’ve prioritised our more disadvantaged communities and made sure provision is sustainable”, a spokesperson said.

They said the Childcare Offer for Wales, providing up to 30 hours per week of care for three and four-year-olds, was more generous than England’s scheme.

“Unlike in England, it is available to parents in training and education as well as those in work and is available 48 weeks per year, compared to England’s 38 weeks.”

What are the political parties’ childcare promises?

In its autumn conference, Plaid Cymru announced it would offer at least 20 hours’ free childcare for 48 weeks a year to all children nine months to four years old by 2031.

The current offer of 30 hours for some three and four-year-olds would continue.

The Welsh Liberal Democrats said it would introduce 30 hours per week of childcare for children from nine months to school age and invest in school holiday provision.

The Welsh Conservatives said it would replicate the childcare offer in England of 30 hours a week for working parents of nine month to four-years-olds during term time.

It said there would be more details in its manifesto for the Senedd election.

Welsh Labour said it was “proud” to roll out free childcare for two-year-olds, providing a tax break for nurseries and expanding subsidised childcare for three and four-year-olds.

It is still discussing the offer for 2026 and beyond, the party said.

Reform UK said it was putting together a manifesto to “deliver the real change Wales needs”.



Source link

Continue Reading

Business

From Budgeting To Investing: A Complete Guide To Managing Money In Your 20s

Published

on

From Budgeting To Investing: A Complete Guide To Managing Money In Your 20s


Last Updated:

From budgeting and building an emergency fund to saving and investing, here’s a guide to help you achieve financial success in your 20s.

How to achieve financial success in your 20s?(Representative Image)

How to achieve financial success in your 20s?(Representative Image)

Your 20s are a time of new beginnings, you start living on your own, secure your first job, manage your own expenses, experience heartbreaks and discover new things about yourself. But amid all these changes, this is also the perfect time to build habits that can benefit your future.

The earlier you start managing your finances, the stronger your financial foundation will be. From budgeting and building an emergency fund to saving and investing, here’s a guide to help you achieve financial success in your 20s.

Realistic Budget

Track every rupee, know exactly what you earn and where it’s being spent. Separate your needs and wants, and plan your expenses accordingly. Always prioritise essentials like rent, utilities, and groceries before spending on leisure. This simple practice helps build financial discipline and keeps your money in control.

An Emergency Fund

Life is full of surprises! Unexpected expenses like losing a job, sudden medical bills, or car troubles can come out of nowhere. It’s important to have an emergency fund with 3 to 6 months’ worth of savings in a reliable account. It’s your backup plan that keeps you financially steady when life throws a curveball.

Pay Yourself First

Save before you start spending. As soon as your salary is credited, set aside a portion of it for savings before spending it on anything else. Automate this process by directing the amount to a savings or investment account. Over time, this small habit can build strong financial discipline. Even saving 10 per cent each month can go a long way.

Magic Of Compound Interest

Investing in your 20s helps your money grow faster over time through compound interest. Start small with options like SIPs or PPFs. The earlier you begin, the more your wealth can grow over time.

Learn To Handle Credit

Your credit history represents your financial identity and can open new ways if managed well. Make it a habit to pay bills on time, maintain low credit card balances, and borrow only within your means. A good credit score can help you get better loans and rent homes more easily.

Popular Investment Options

Investing early allows you to grow your wealth and secure a financially stable future. Here are some popular options to consider:

Mutual Funds: Diversify your portfolio with professional management.

Index Funds & ETFs: Low-cost investment options that track the performance of market indices.

Stocks: High-risk, high-reward investments that can offer significant growth over the long term.

Cryptocurrencies: For those open to high-risk, high-volatility investments with potential for large returns.

Business Desk

Business Desk

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

Follow News18 on Google. Join the fun, play QIK games on News18. Stay updated with all the latest business news, including market trendsstock updatestax, IPO, banking finance, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Also Download the News18 App to stay updated.
News business From Budgeting To Investing: A Complete Guide To Managing Money In Your 20s
Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

Read More



Source link

Continue Reading

Business

US-China trade deal: Delegations begin talks in Kuala Lumpur; Trump’s 155% tariff threat looms – The Times of India

Published

on

US-China trade deal: Delegations begin talks in Kuala Lumpur; Trump’s 155% tariff threat looms – The Times of India


China and the United States kicked off their latest round of trade talks in Malaysia on Saturday, as the world’s two largest economies attempt to prevent further escalation of a costly tariff dispute. “The Chinese and US delegations convened on Saturday morning for talks on economic and trade issues,” official Xinhua news agency reported, as cited by AFP.These discussions come as the two nations get embroiled in a new wave tariff tensions.Chinese vice premier He Lifeng is leading a delegation to Malaysia from October 24 to 27 to hold economic and trade talks with the United States, the Chinese commerce ministry had said earlier in a statement.US President Donald Trump had threatened 100% additional tariffs on Chinese imports after Beijing’s introduction of sweeping controls on its vital rare earths industry earlier this month. Both nations have imposed arrival fees on each other’s ships, after a US “Section 301” investigation concluded that China’s dominance in the sector was unreasonable. Trump had also warned he might cancel his anticipated meeting with Chinese President Xi Jinping in South Korea, which was scheduled on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit beginning October 31. Despite these tensions, the US president has underlined his aim to secure a “good” deal with China and end the trade war. The ministry had earlier said the discussions will focus on “important issues in the economic and trade relationship between China and the United States.” The timing of the talks coincides with President Trump’s visit to Kuala Lumpur for the Association of Southeast Asian Nations (ASEAN) meeting from October 26 to 28.





Source link

Continue Reading

Trending