"Bodytech's closure in Peru transforms the gym market and creates opportunities."

The exit of Bodytech from the Peruvian market marks a significant milestone in the country's fitness industry. Since its arrival in 2008, the Colombian chain had achieved remarkable growth, becoming a benchmark in the gym sector. However, the pandemic drastically affected its operations, leading it to significantly reduce its presence in the country until it ultimately closed its doors for good. This change not only impacts the 22,000 members who will be left without a gym but also creates a reshuffling in the market that could benefit other chains and service models. The story of Bodytech in Peru is one of ups and downs. At its peak, it had over 20 locations and a solid customer base. However, in recent years, the company adjusted its strategy and scaled its operations, focusing on Lima. As the pandemic brought new challenges, the need to adapt became evident, but it was not enough to sustain its business model. The closure of Bodytech opens up considerable space for other players to take advantage of the situation and attract customers who are left without options. With the exit of this chain, Smart Fit, known for its 'low cost' model, has the opportunity to grow and establish itself as a market leader. The company has already begun to attract some of the members that Bodytech has left behind, but its focus on affordable prices may not satisfy all former Bodytech clients, who were looking for a more comprehensive service. Carlos Domínguez, marketing director for B2 gyms, estimates that between 35% and 40% of Bodytech members might opt for their 'full service' model, which includes a variety of workouts and additional services. The impact of Bodytech's exit has been immediate, with a significant increase in memberships at B2, which has reported a rise of between 110% and 140% in the last week. Domínguez notes that the trend has been gradual, as the closure of Bodytech locations was a slow process. This indicates that competition is intensifying and that gyms offering a service similar to what Bodytech used to provide have a great opportunity to attract new clients. However, it is not just B2 and Smart Fit that are in the spotlight. Chains like Sportlife and KO Urban Detox Center are also preparing to capture the members who are left unattended. Sportlife, which offers an integrated proposal that includes swimming, and KO, which provides a more personalized and differentiated approach, position themselves as viable options for former Bodytech clients. José Oropeza, director of the consulting firm Impronta Research, highlights that Bodytech's exit creates an even broader window of opportunity for the market. While Smart Fit may attract those looking for a more economical option, there is a segment of middle and upper-class consumers seeking more complete and differentiated experiences. This niche could be filled by chains like KO, Crossfit, and other specialized gyms that have seen significant growth in recent years. According to a recent study, Smart Fit and Bodytech led brand recall in the gym sector, but competition is now set to intensify. The Brazilian brand dominated the youth market, while Bodytech maintained a strong presence among a broader audience. With the new scenario, other gyms will have the opportunity to capture the attention of consumers looking for a richer training experience. The growing interest in health and wellness has led to more people enrolling in gyms and seeking options that align with their needs and preferences. This shift in consumer behavior could make the industry continue to evolve towards a more diversified model, where different levels of service and training experiences are offered. As the market reconfigures following Bodytech's exit, gym chains that manage to adapt to the new demands of consumers and offer added value will have the opportunity to stand out. Competition will intensify in the coming months, and it will be crucial to observe how different brands respond to this new reality in the fitness sector. With a renewed focus and attractive proposals, the future of the industry may be brighter than ever, despite the efforts of a brand that, for years, was synonymous with fitness in Peru.