North America

The Eternal Question

 

…Should I buy a treadmill?

According to Statista, wholesale consumer treadmill sales in the United States have fluctuated around one billion dollars per year since 2007; they dropped to 800 million dollars in 2009 after the recession and have gradually risen back up since. There are some reasons, though, why treadmills — or, perhaps, stationary bikes, ellipticals, rowing machines?, etcetera — could still be the “next big thing”:

home_category_treadmills
1. Headphones 

Treadmills, I don’t need to tell you, are loud. As you use them, people living in the same home or apartment as you are often annoyed by both their noise and their vibrations. If you use them while watching television, you will probably have to turn the volume on the tv way up, which will bother people around you even more. You may even be bothered by the loud noise yourself; indeed if you make a habit of going on the treadmill with the tv blaring at full volume, you may damage your ears in the long run.

Wireless headphones, then, could make treadmills much more appealing. And high-quality wireless headphones are for the first time going to be widely owned within the next few years — or months.

2. Netflix 

Sorry Wolf Blitzer, I don’t want to see your face ever again. From now when I am on the treadmill I am going to watch Netflix or last night’s Raptors or Warriors game (nobody tell me who won!). Hey, that actually makes exercising sound pretty good: it’s a great excuse for me to binge on tv.

3. Televisions

The year is 1995 and I am building an exercise room in my house. I decide to put a big tv in front of the treadmill, so I spend hundreds of dollars on a large television with a big behind, then a few hundred dollars more on a cabinet set to hold this voluptuous television. Wow, this is so expensive, and takes up too much space in this room! Maybe I should just wait until 2015, when I can get a 32 inch flatscreen LCD tv for less than $300 (down from $1600 in 2005) and mount it directly on the wall.

In fact, tv’s have now become so skinny that they can be attached directly to the exercise equipment. This could potentially allow people to move their exercise equipment outdoors in some cases, taking advantage of the space and fresh air in their backyards. Combined with wearing wireless headphones so as to not annoy one’s neighbours, this could make purchasing exercise equipment more reasonable.

4. Occulus!

Is virtual reality coming at last? Recently people have begun to believe that it is. If it does become advanced and widespread, then it may require a means to simulate movement in order to create a more dynamic virtual experience. Treadmills are an obvious candidate for such a simulation. Virtual reality may benefit from treadmills, therefore, and treadmills may benefit from virtual reality. Of course this might not actually end up happening, but it is worth speculating on nonetheless.

5. Fitbit 

Fitbit, the Apple Watch, Stepcounter apps, etcetera. Devices that let you know, in real time, what a lazy bum you really are could change the exercise industry in a big way. I know that I spend too much time sitting in front of a computer or television, and have been thinking about downloading a new app that has your phone alert you whenever you have been sitting down for more than an hour at a time. (I probably won’t download it, but I have been thinking about it!).

Many people have certainly been begining to use apps that show them how many “steps” they have taken every day, and in the spirit of self-competitive self-improvement have started to walk more in order to up their scores. This could, perhaps, lead to an increase in people purchasing treadmills.

 6. Millenials 

A large share of young people continue to live at home with their parents, or else on their own in small apartments or homes (often partially supported by their parents) where they do not have much space. As the large millenial population continues to age, however, they will depart from the nest, leaving behind bedrooms that can house exercise equipment. Some millennials will also be beginning to move into larger homes, where they may begin to buy equipment too. Or maybe not.

7. Real Estate

If you live in a 750 square ft. apartment space, then a typical high-quality treadmill will take up about 5 percent of your floor space. That’s no good; you will need more space in your home before thinking seriously about spending the $3000 or more that high-quality treadmills often cost. So, will indoor space in North America become cheaper?

It might, thanks to evolutions in transport (cheaper gasoline, hi-tech cars, Uber-style carpooling, driverless trucks, e-commerce with home delivery, etc.), communications (the modern Internet), and home construction (robots helping to build homes — it’s a scary thought, but get ready for it), which could make it easier for humans to spread out across cities, across suburbs, and across the countryside than ever before. E-commerce and e-commuting may also help bring home prices down by allowing some commercial real estate to be converted into residential.

8. Delivery

Good-quality exercise equipment tend to be among the more difficult-to-transport types of consumer goods. In most cases they are heavy, bulky, awkwardly shaped (and unable to fold up) and delicate. Getting them up a flight of stairs into a spare bedroom, or up many flights of stairs into an apartment building, can be a very difficult experience — and a costly one if you are employing delivery-men. If shipping and delivery-men become cheaper, then, it could be a boon to the industry, therefore.

Both, perhaps, can be expected. Delivery-men costs may fall as a result of the price of labour in general being squeezed by the double-whammy that is automation and outsourcing. Shipping costs, meanwhile, may fall because of cheap oil (if prices do not rise back up), falling labour prices leading to falling truck driver prices, innovations in trucking (smarter trucks, self-driving trucks, etc.), and the rise of the e-commerce and home-delivery industry (led, currently, by companies like Amazon).

If, moreover, self-driving trucks really do become commonplace, it could lead to much cheaper home delivery by allowing goods to be dropped off at local storage sites near the homes overnight while there is no road traffic, and then brought to the buyer’s home during the day.

9. Home Offices

Because of the Internet, in the years ahead many more people are likely to work from home, or from offices or coworking spaces close to home. This may free up time for people to go to the gym more often, lessening their need for things like treadmills. On the other hand, it may make people more likely to exercise at home, increasing their need for things like treadmills. Will it make people more likely to buy treadmills, on balance? I am not sure, but it is a possibility worth considering.

In addition, as home office spaces continue to shrink in size as a result of getting rid of fat desktop computers, printers, scanners, computer desks with pullout keyboards, and filing cabinets, and replacing them with more versatile laptops, tablets, and flatscreen desktops, there may be more space available in the home for treadmills.

10. Seasons 

In theory, treadmills should be seasonal goods: if you live in a place like Canada then you don’t really need one during the summer when you will probably prefer to exercise outdoors instead, and if you live in a place like southern California then you may only really need one during the summer when it is boiling outside. In practice, however, the high cost of shipping and delivering treadmills has prevented seasonal home rentals of treadmills, as has the fact that many people living in hot climates still do not have air conditioning and so do not want to work out indoors in the summer. 

The continued spread of air conditioning and the ability to more cheaply deliver treadmills, therefore, could perhaps lead to a situation where more people seasonally rent treadmills. In theory, at least, this could save people money as well as space in their homes. In fact, it may just be possible that long-distance shipping will eventually become cheap enough for a treadmill to become like the opposite of migratory bird, being used in a cold climate during the winter and then being shipped south to a hot climate for the summer.

——

On the other hand, there are reasons why such a treadmill “revolution” may not come to pass. But I am too lazy to discuss them right now; I think I will go for a long walk in front of Netflix instead.

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One thought on “The Eternal Question

  1. Pingback: Bricks, Mortar, and Wireless Headphones | Future Economics

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