The 2021 New Spot Point Product - Smart Home Gym Mirror
Smart Mirror, Smart Life, The Next Big Thing
The Most Leading Smart Mirror Specialist in China, Looking For Global Partners For Smart Mirror Distribution.
By smart home gym mirror fitness | 03 July 2021 | 0 Comments

The 2021 New Spot Point Product - Smart Home Gym Mirror

The Wave of Smart Home Gym Mirror

With the upsurge of national fitness, the fitness mirror seems to be a new tool for "harvesting" users.

"What kind of experience is it like to move the gym to home?" "real person 1v1, mirror teaching is more professional"... In the advertising, the fitness mirror has become a black technology that directly hits the pain point of the offline gym.

Beijing News shell finance reporter learned that at present, the main function of the fitness mirror is that users and AI coaches can use the mirror in the same frame to achieve the goal of exercising at home. Fitness mirror will not only prompt the wrong action but also provide some fitness courses to help the user targeted fitness.

According to the reporter's search, the current price of the fitness mirror ranges from more than 2000 yuan to more than 8000 yuan. Although it is advertised as a fitness "magic mirror", the high price is inevitably regarded as a chicken rib product - there are many slots in AI function, course design, and fluency.

Public doubts have not affected the popularity of this intelligent product, and capital has already entered the market.

According to industry insiders, there are nearly 30 types of fitness glasses or smart screens on the market. If you count the manufacturers with the ability to produce complete products or the core supply chain enterprises, this track has gathered hundreds of enterprises, and the "hundred mirror war" is imminent.

Fitness mirror attracts the attention of Chinese people, also choose life, and try to stir up the trend.

In the middle of June, the ultimate version of the fire mirror appeared in Weiya's live studio, with a price of 3199 yuan. It is reported that fire, together with Weiya's live studio, has attracted more than 4.4 million people to watch, and has sold more than 3000 sets of Omnichannel products in a single day, creating a new record in the field of intelligent fitness glasses.

Shell financial reporter noticed that the same fitness mirror is sold at 4699 yuan per face in small flagship store, 3999 yuan from June 21 to June 30, and 1000 yuan per month.

In the past month, the body-building mirror has been constantly brushing.

On May 19, Yijian magic mirror made its debut, claiming that in addition to the responsibility of "fitness coach", it also has the game function, saying goodbye to the traditional single sports mode and making sports interesting. About a week later, Gudong released the "fit more" intelligent fitness mirror in Beijing, with a price of 3999 yuan and a family fitness card, "which not only meets the fitness needs of the public that are not limited by space and time but also brings intelligent and scientific family fitness services.".

At the end of May, lucky sports joined the track and launched its first home smart fitness mirror, little mirror, with an official price of 2699 yuan.

In fact, the fitness mirror is not new, but it is not well known in the domestic market. The home fitness market of intelligent fitness mirror products is just in the "cultivation period".

Previously, a mirror (a mirror that can guide fitness plans) was named one of the best inventions of the year in 2018 by time magazine. According to reports, in the annual hot search list released by Google in 2019, the product with the highest increase in search frequency of fitness-related information is fitness mirror.

According to people in the industry, there are nearly 30 types of fitness mirrors or products with fitness / intelligent fitness functions (such as smart screens, smart boxes, etc.) in the market.

Shell finance reporter learned that this intelligent product will first give users physical tests, and then provide a personally customized fitness program. Under the guidance of the AI coach, there is no need to worry about the reaction caused by the action, not in place, and the wrong action mirror will also prompt.

According to the reporter's search, the selling points of the fitness mirror in Shangjia's mouth are far more than that. AI motion capture, self-developed courses, a star coaching team, and enjoying 1-to-1 health consulting service make the fitness mirror have the advantages of the offline gym and intelligent service.

However, the price is not low. The reporter searched on Taobao, small, Jingdong, and other e-commerce platforms and found that the prices of intelligent fitness mirror products on the market now range from more than 2000 yuan to more than 8000 yuan.

Real coaches or Smart Fitness Mirror

At present, the higher value obviously creates the distance between the fitness mirror and consumers.

Ms. Xia intended to experience the smart fitness mirror but did not place an order, because she still had concerns about this product“ Although it's tempting to keep fit at home, I still like the real trainer to tell me what's not standard.

Ms. Xia asked several questions: can it really correct my movements accurately? Although there are not many classes in the 4000 yuan private education, it is still useful to go there. Is it really useful to spend 4000 yuan on fitness glasses?

In the reporter's interview, many consumers still don't trust AI technology.

"No one cares about me when I buy a mirror for 4000 yuan. I may waste as much as a mirror for 400 yuan." Ms. Jiang told shell financial reporters that her biggest obstacle to fitness is inertia. She is worried that the intelligent fitness mirror is not real interaction, and it is difficult to motivate consumers to continue to exercise.

"The most important thing is that it's too expensive. It takes a process for consumers to accept a mirror for thousands of yuan." Taobao sellers told shell financial reporters that even if it is a discount promotion, the sales volume of fitness mirror is not high.

However, there is not any market for fitness glasses. Mr. Wang recently placed an order for an intelligent fitness mirror product, focusing on "it can replace the gym exercise class, I don't have to run out and I can freely control the time.".

Mr. Ma, who often works overtime, doesn't have time to go to the gym. He accidentally saw this product. Now in his opinion, the use of fitness glasses has achieved the effect of efficient fitness. And can stay at home fitness, also moved Mr. Xie, "buy it is mainly for a daughter-in-law to use, help her postpartum recovery figure, do not have to go out, fitness with children is not wrong."

Although in the consumer market some cold, but does not prevent the business "head hot", aiming at the new concept of fitness and future value-added services.

"We think the smart fitness mirror is a good product, it has been used in the United States. The fitness population of the United States has a higher penetration rate, a higher fitness awareness, and fitness glasses are easier to get the universal application. China's fitness market is obviously a high growth market, and the formation of fitness awareness and habits will be very fast. We are optimistic about the growth of fitness glasses in China's market. " Han Wei, founder, and CEO of Leke told shell finance.

Han Wei said that the so-called smart fitness mirror is just a carrier, a tool consumers can choose in the family fitness scene. As a market participant, in the process of the education market and market development, the fitness mirror in front of us is not a hardware product, its essence is a "content + operation" product.

"We are committed to creating a healthy closed-loop industry. In the future, we will not rely on hardware to make money, but on providing content and services. Consumers can spend very little on a mirror, but they will be willing to pay for the quality content and services we provide. At present, some people think that buying body-building glasses is to pay IQ tax, probably because the products are not good enough, there may be only hardware, no content, or the operation logic is unreasonable, which leads to the impression that body-building glasses give people negative value products. " Han Wei said.

When it comes to consumer concerns, Han Wei believes that fitness glasses can't replace private education, just as compared with Hall food, takeout inevitably has some losses in taste and temperature“ This is a question of relative experience. Why do we still accept takeout? On the one hand, our AI technology will continue to improve and upgrade with the increase in consumer demand. On the other hand, in our fitness mirror course, there are real people private teaching courses, so consumers can interact with real people coaches online at home. "

Zhang Yuansheng, co-founder and President of future, believes that future magic mirror solves the two major problems of fitness: the difficulty of starting and the difficulty of persisting, which is the reason for the low population penetration rate of Chinese fitness users.

"The relationship between intelligent fitness and gym is actually complementary." Zhang Yuan claimed that the ultimate goal is to achieve the L5 level of intelligent fitness with completely autonomous action interaction, and the fitness mirror can be compared with the personal teaching of real people.

"We choose the mode of" hardware + content + service + AI "so that the fire mirror can give users an overall solution and provide them with an intelligent fitness experience with interactive content." Zhang Yuansheng said.

"Harvest" skill: the membership fee is 1000 yuan a year, "7800 yuan has been mass production pricing"

The high price of the fitness mirror started. Some people in the industry told reporters that the cost of the product is not low, including hardware, panel, AI chip, sensor, flash memory, and speaker. The course content and membership service on the app are not only selling points but also packaged into the price.

Shell financial reporter learned that taking the magic mirror of an enterprise as an example, consumers can enjoy membership services ranging from 3 months to 1 year according to the purchase price. In addition to the exclusive training program, one-to-one service of health consultants,s and free viewing of rich courseware, members can also participate in star courses, course ranking, and challenge ranking.

After the expiration of the membership, consumers can renew their fees independently, and the price is about 1000 yuan per year. Nonmembers without renewal also have free content to use, including about 100 courses from elementary level to advanced level, which can be used for daily exercise. According to the customer service, the free course package is continuously expanding.

This means that it can guarantee or continuously improve the renewal rate of users, and it is also one of the driving forces for enterprises to improve the experience of technology, content, service, and community to meet or even exceed the expectations of consumers.

"Our pricing strategy is" how to think of the fitness mirror ". If we understand it as the logic of selling hardware equipment, the fitness mirror should have higher profits. But if we understand the fitness mirror as a part of the home fitness service, or even as a part of one of the solutions, it may be another logic, that is, not relying on hardware to make money, Make money by providing content and services. " Han Wei told reporters.

Han Wei said that at present, the domestic home fitness market is still in the stage of being educated. In the process of its promotion and operation, consumers are also expected to realize that they are not paying for the mirror but investing in the body. As a practitioner, I hope that when the market becomes bigger and the products can be applied in batches, the price of a single product can be further reduced, even to less than 1000 yuan.

However, in Zhang Yuansheng's view, it is normal for consumers to have such feedback on the price of a new category of intelligent fitness glasses, which is also in line with the company's initial expectations.

"Among the two products we have launched, the price of 7800 yuan for the premium version of fire magic mirror is actually based on the cost of large-scale production. In terms of price alone, first of all, hardware accounts for 6600 yuan, which is only the price of a smartphone. Considering that its service life is much longer than that of a mobile phone, the real consumption threshold is not high. Second, compared with the annual card price of the gym, our annual package cost of 1200 yuan is quite cheap. The monthly cost is only 1 / 5 of a single private class, and the gym can be moved to the user's home, with a rich curriculum system and AI interaction. Third, the real cost of fitness is not the price, but the time. The fire mirror allows users to seize the fragmented time to fitness, thus saving a lot of time. In our strategic plan, the ultimate version of a magic mirror, priced at 4800 yuan, is an intelligent fitness product that can let more people access interactive content. " Zhang Yuansheng said.

On whether there will be lower price products in the future, Zhang Yuansheng said that it is not possible at this stage. Because from the perspective of experience, if the price is about 1000 yuan, he doubts whether the product can give users a complete solution.

What's the profit margin of fitness mirror under the current pricing? A business person told reporters: "investors are very satisfied, once we can run as planned."

How big a market can capital holdings leverage?

Shell financial reporter learned that before the launch of the little mirror, the Leke movement had made preparations for 20 months.

The Opportunity of home smart fitness mirror under covid-19

Han Wei said that as early as 3 years ago, he was intending to enter the office, and at the same time carried out investigation and research work. The COVID-19 raid made the fitness shop under the line hit hard, but it played a catalytic role in the family fitness market. He believes that if the market will explode in three years, the best time to enter is now.

The fitness mirror breaks into the fitness tracker to dig for gold, which naturally can't do without capital assistance.

It is understood that both Leke sports and fire have obtained new financing this year. Through the list of investors behind them, we can also see the strong interest of capital in this market.

It is reported that all-star fund, Julian capital, DST global, continue, Sequoia China, Tencent, C capital, Gaohu capital, Weilai capital, Jinshajiang venture capital, black ant capital, Z1 capital, CPE, Bai, IDG capital, highland capital, Kaihui fund, hoaxing in the economic fund, etc. are optimistic about this track.

In the face of massive capital inflow, Han Wei told reporters that on the one hand, rapid and massive capital entry may give rise to the industry bubble. On the other hand, the concept of a family fitness scene can be more understood and contacted by the public, which is also conducive to the accelerated development of the market.

Zhu Xiaohu, the managing partner of Jinshajiang venture capital, said that fitness is a 100 billion level market, and it is also a strong experiential market, with very high requirements for products and services.

According to the Research Report on mass fitness behavior and consumption in 2021, the average annual total consumption of mass fitness in 2021 is 5670 yuan, 35% higher than that in 2020. Among them, women's sports consumption increased significantly, with an average total consumption of 6362 yuan, an increase of nearly 50% compared with last year. Women's sports consumption was significantly higher than men's in purchasing fitness cards and private education courses.

It is worth mentioning that 89% of the respondents think it is necessary to make physical fitness intelligent. The specific demand for intelligent fitness equipment is mainly "software + content + diet + health" management, showing a comprehensive development trend of product services. A total of 47% of the respondents expect fitness equipment to carry fitness guidance, intelligent fitness, and intelligent health management functions.

For the public fitness scene, more than 22% of the respondents expect a "more intelligent and energetic exercise effect". As a common way of intelligent fitness, 70% of the respondents exercise with the help of a sports software app.

However, it is not a smooth way for the fitness mirror to enter the market. "Opportunities need to wait and there are many challenges," Han said. In the United States, the market is mature, but in China, it is still in its infancy. We are faced with many problems, such as how to set the course time, life or video, how to get the traffic, how to do the interaction of the background, why consumers will pay for it... Hundreds of problems need to be solved one by one. "

Zhang Yuansheng told reporters that as a new category, the biggest opportunity and challenge is to educate the market. It's just like when smartphones first appeared, when you ask a function phone user whether they need a smartphone, the answer is often No. In terms of smart fitness mirrors, the improvement of public awareness is difficult to fundamentally change in a short time.

"For manufacturers like fire, what we can do is to let everyone touch and understand our products as much as possible, so we have done home free experience activities. We will open offline stores in the top shopping malls in first-tier cities and new first-tier cities, and launch new products online in Weiya live studio... But the efforts of fire alone are far from enough, What we need is the joint efforts of the whole industry, so we really welcome competition, especially the participation of more technology giants such as Huawei and oppo. Even if a "hundred mirror war" is triggered, we still need to rely on product experience to win in the end. " He said.

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