FANews
FANews
RELATED CATEGORIES
Category Healthcare
SUB CATEGORIES General  |  HIV |  Medical Schemes | 

The fitness device: Fad? or future?

11 April 2016 Prof. Ina Shaw, Momentum Multiply
Prof. Ina Shaw (PhD) from Multiply, Momentum’s wellness and rewards programme.

Prof. Ina Shaw (PhD) from Multiply, Momentum’s wellness and rewards programme.

It is estimated that the global market for wearable health and fitness devices that help get you in shape will reach a staggering 285 million units by 2020¹. Essentially, these tech gadgets encourage you to track and improve your fitness, as well as overall health.

Prof. Ina Shaw (PhD) from Multiply, Momentum’s wellness and rewards programme, says, “The use of these devices is certainly no fad. According to many analysts, the increasing trend for wearable health and fitness devices will not abate. In fact, some analysts predict that their use will triple by 2018.”

There are many reasons - when used correctly and sustainably - why these devices as well as apps are growing in popularity: they have been shown to decrease healthcare costs, assist in the fight against obesity both in South Africa and globally, and can assist in the management of chronic conditions that can benefit from ongoing observation or behaviour adjustments.

The key to the long-term sustainability of wearable health and fitness devices is that they remain simple to use. As with any technology they will get better as they evolve over time, but they should also get cheaper giving more of the population access. “Already we have seen an increase of almost 65% since the beginning of 2016 in the number of Multiply members using these devices and apps to earn Active DayzTM,” says Shaw. The latest data from the wellness and rewards programme indicates that members most commonly use Garmin, Fitbit and then Jawbone to track their Active DayzTM.

Reward for physical activity is moving beyond gym visits. “Multiply’s Active DayzTM encourages members to become physically active in the way that their busy lifestyle allows or in the different ways they prefer: run, walk, cycle, chase the kids, dance or skip. Supported devices and apps allow Multiply to count physical activity towards Active DayzTM. Our members track their calories burned or steps taken and they are given real benefits like cash-back and discounts. With economists warning of tough times ahead and consumers having to tighten their belts, these rewards are meaningful and positively impact their pocket.
When you consider vigorous vacuuming, mowing the lawn, chasing after toddlers or a night of dancing can be measured and counted, achieving your exercise goals and reaping rewards for your efforts becomes easier via Active DayzTM.

It is important for consumers to use a supported device or app that is well suited to their particular needs, while also making sure it is compatible with their chosen wellness and rewards programme. It is important that devices produce reliable and verifiable data, for accurate assessment.

According to Multiply, the use of these devices has had a significant impact on those individuals trying to maintain or improve their health. “The benefit of using this wearable technology is changing the face of how we manage our health. This can be seen through a decreased cost of healthcare expenditure, the possible prevention and reduction of developing risk factors for chronic diseases, and through the possible improved health outcomes if an individual already has a chronic disease. We are encouraging all our Multiply members to embrace wearable devices and experience the benefits,” concludes Shaw.

Quick Polls

QUESTION

South Africa’s economy is facing major policy and market challenges in 2025. As an adviser or broker, what concerns you the most?

ANSWER

Erosion of private property rights
Government interference in free trade
Inflation, administered prices
Weak growth, high debt
fanews magazine
FAnews February 2025 Get the latest issue of FAnews

This month's headlines

Unseen risks: insuring against the impact of AI gone wrong
Machine vs human: finding the balance
Is embedded insurance the end of traditional broker channels?
Client aspirations take centre stage as advisers rethink retirement planning
Maximise TFSA contributions before year-end
Subscribe now