A look back at 2023: Garmin releases yearly Fitness Report

Rhea-AI Summary

Garmin (GRMN) Releases 2023 Fitness Report, Revealing Key Trends and Exercise Habits Worldwide

Positive

• Garmin's 2023 Fitness Report highlights a 19% increase in activities using fitness equipment, with significant growth in strength training, stair climbing, and elliptical activities.
• HIIT activities saw a remarkable 112% year-over-year increase, indicating a rising trend in high-intensity interval training.
• Outdoor activities like walking, trail running, gravel cycling, and e-bike riding reached new heights in 2023, reflecting a growing interest in outdoor fitness.
• Garmin customers spent 76% more time playing tennis in 2023, showcasing a surge in tennis-related activities.
• Yoga, Pilates, and breathwork activities experienced double-digit growth, highlighting a focus on mind, body, and wellness among Garmin users.

Negative

• None.

Report offers key insights into fitness trends from around the world 

OLATHE, Kan., Jan. 4, 2024 /PRNewswire/ -- Garmin (NYSE: GRMN) today released its 2023 Garmin Fitness Report, highlighting key fitness trends and exercise habits of its customers around the world. From tried-and-true activities like running, cycling and walking to increasingly popular hobbies such as Pilates, HIIT and tennis, users logged more of nearly every activity in Garmin Connect^™ in 2023 compared to the previous year.

Here are some key takeaways from the 2023 report:

• The top five activities were: running, walking, cycling, strength training and indoor cardio.
• Customers logged 19% more activities using fitness equipment in 2023 with double-digit growth in strength training, stair climbing and elliptical activities.
• HIIT activities skyrocketed – up 112% year-over-year.
• Whether getting those miles in on foot or on two wheels, outdoor activities like walking, trail running, gravel cycling and e-bike riding rose to new levels.
• The tennis courts were a popular destination in 2023; Garmin customers spent more time practicing their serves and smashes, playing 76% more tennis over the previous year.
• A focus on mind, body and wellness was more apparent in 2023 as yoga, Pilates and breathwork activities all experienced double-digit growth.

Click here to read the entire report.

Engineered on the inside for life on the outside, Garmin products have revolutionized life for runners, cyclists, swimmers and athletes of all levels and abilities. Committed to developing technology that helps people stay active and elevate performance, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Visit the Garmin Newsroom, email our media team, connect with @garmin on social, or follow our blog.

About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark and Garmin Connect is a trademark of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 31, 2022, filed by Garmin with the Securities and Exchange Commission (Commission file number 0001-411180). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Media Contacts:
Stephanie Schultz and Natalie Miller
913-397-8200
media.relations@garmin.com

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SOURCE Garmin International, Inc.

FAQ

What are the key takeaways from Garmin's 2023 Fitness Report?

The key takeaways include a 19% increase in activities using fitness equipment, significant growth in HIIT activities, a surge in outdoor activities, increased time spent playing tennis, and double-digit growth in yoga, Pilates, and breathwork activities.

What activities saw significant growth in 2023 according to Garmin's report?

According to the report, activities such as strength training, stair climbing, elliptical activities, HIIT, outdoor activities like walking, trail running, gravel cycling, and e-bike riding, as well as tennis-related activities, all experienced significant growth in 2023.

What is the ticker symbol for Garmin?

The ticker symbol for Garmin is GRMN.

How can I access the entire Garmin Fitness Report?

You can access the entire report by clicking on the following link: [Link to the report].

What is the focus of Garmin's technology development?

Garmin is committed to developing technology that helps people stay active and elevate performance, with a focus on innovation and beating yesterday.

What does Garmin's 2023 Fitness Report reveal about fitness trends worldwide?

The report reveals a growing interest in various fitness activities, including outdoor fitness, HIIT, and mind-body wellness, reflecting the evolving fitness trends worldwide.