Business
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.
Interest rates are widely expected to remain at 3.75% as Bank of England policymakers prioritise curbing above-target inflation while also monitoring economic growth, according to expert analysis.
The Bank’s Monetary Policy Committee (MPC) is anticipated to leave borrowing costs unchanged when it announces its latest decision on Thursday, marking its first interest rate setting meeting of the year.
This follows a rate cut delivered before Christmas, which was the fourth such reduction.
At the time, Governor Andrew Bailey noted that the UK had “passed the recent peak in inflation and it has continued to fall”, enabling the MPC to ease borrowing costs. However, he cautioned that any further cuts would be a “closer call”.
Since that decision, official data has revealed that inflation unexpectedly rebounded in December, rising for the first time in five months.
The Consumer Prices Index (CPI) inflation rate reached 3.4% for the month, an increase from 3.2% in November, with factors such as tobacco duties and airfares contributing to the upward pressure on prices.
Economists suggest this inflation uptick is likely to reinforce the MPC’s inclination to keep rates steady this month.
Philip Shaw, an analyst for Investec, stated: “The principal reason to hold off from easing again is that at 3.4% in December, inflation remains well above the 2% target.”
He added: “But with the stance of policy less restrictive than previously, there are greater risks that further easing is unwarranted.”
Shaw also highlighted other data points the MPC would consider, including gross domestic product (GDP), which saw a return to growth of 0.3% in November – a potentially encouraging sign for policymakers.
Matt Swannell, chief economic advisor to the EY ITEM Club, affirmed: “Keeping bank rate unchanged at 3.75% at next week’s meeting looks a near-certainty.”
He noted that while some MPC members who favoured a cut in December still have concerns about persistent wage growth and inflation, recent data has not been compelling enough to prompt back-to-back reductions.
Edward Allenby, senior economic advisor at Oxford Economics, forecasts the next rate cut to occur in April.
He explained: “The MPC will continue to face a delicate balancing act between supporting growth and preventing inflation from becoming entrenched, with forthcoming data on pay settlements likely to play a decisive role in shaping the next policy move.”
The Bank’s policymakers have consistently voiced concerns regarding the pace of wage increases in the UK, which can fuel overall inflation.
India’s budget focuses on infrastructure and defence spending and tax breaks for data-centre investments.
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New Income Tax Act 2025 to come into effect from April 1, key reliefs announced in Budget 2026
New Delhi: Finance Minister Nirmala Sitharaman on Sunday said that the Income Tax Act 2025 will come into effect from April 1, 2026, and the I-T forms have been redesigned such that ordinary citizens can comply without difficulty for ease of living.
The new measures include exemption on insurance interest awards, nil deduction certificates for small taxpayers, and extension of the ITR filing deadline for non-audit cases to August 31.
Individuals with ITR 1 and ITR 2 will continue to file I-T returns till July 31.
“In July 2024, I announced a comprehensive review of the Income Tax Act 1961. This was completed in record time, and the Income Tax Act 2025 will come into effect from April 1, 2026. The forms have been redesigned such that ordinary citizens can comply without difficulty, for) ease of living,” she said while presenting the Budget 2026-27
In a move that directly eases cash-flow pressure on individuals making overseas payments, the Union Budget announced lower tax collection at source across key categories.
“I propose to reduce the TCS rate on the sale of overseas tour programme packages from the current 5 per cent and 20 per cent to 2 per cent without any stipulation of amount. I propose to reduce the TCS rate for pursuing education and for medical purposes from 5 per cent to 2 per cent,” said Sitharaman.
She clarified withholding on services, adding that “supply of manpower services is proposed to be specifically brought within the ambit of payment contractors for the purpose of TDS to avoid ambiguity”.
“Thus, TDS on these services will be at the rate of either 1 per cent or 2 per cent only,” she mentioned during her Budget speech.
The Budget also proposes a tax holiday for foreign cloud companies using data centres in India till 2047.
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