Supply and Demand Presentation 1) Your presentation should begin by an introduction to the company or industry, including some history and if it is an industry the key players. (About 5 minutes) Description of Dumbells as Gym Equipment - Dumbbell's are a type of exercise equipment used in weight training Purpose of dumbbells is to strengthen the body and to tone and build muscles There are many exercises that a person can do with dumbbells such as squats, lunges, bicep curls, chest presses, tricep extensions, dumbbells rows and many more Brands that sell dumbbells o Living.Fit Hex dumbbells are a famous brand to get affordable dumbbells o Popular equipment stores: Rogue Fitness and Rep Fitness, Titan, Cap o The Best Dumbbells For 2023 - Best Dumbbells Overall: REP Fitness Rubber Hex Dumbbells Best Adjustable Dumbbells: SMRTFT NUOBELL Best Value Dumbbells: Powerblock Elite Series Dumbbells Best Loadable Dumbbells: Titan Fitness Loadable Dumbbell Pair Best Dumbbells on Amazon: CAP Barbell 150-Pound Dumbbell Set Best Round Dumbbells: REP Fitness Urethane Coated Round Dumbbells Best Budget Dumbbells: CAP Barbell Solid Cast Iron Hex Dumbbells Best Rotating Dumbbells: Eleiko Evo Dumbbells o o 2) For each of the above time periods discuss supply and demand and any shifts using the graphs we went over during our first class. It could be that both supply and demand shifted or just one. Also discuss the changes not only in quantities demanded and supplied but also prices. (About 10 minutes) I recommend choosing a physical product where it is easy to quantify units and price/unit to make your analysis more straight forward. Pre-Pandemic Sales - In 2019, the sports and fitness industry grew 3.9% in one year Institutional fitness equipment and consumer fitness product sales grew 3.8 % and 3.1% Barbells and dumbells were in stock but in less demand in the years before covid In 2019, dumbells had a 100% availability Could be found in stock both online and in store The average cost of dumbbells is somewhere between a dollar and two dollars a pound. However, their cost can differ depending on the material they’re made from, their weight, and whether they’re new or not. That is why you need to first decide what kind you want before making the decision to buy one or multiple pairs. When Covid hit, the increased of price shift due to supply and demand. As for as my research goes, typically, a pound of dumbbell weight will cost around $1,50 to $2. However, there seems to be a sliding scale when it comes to really heavy weights, and the price there can drop from $1 to $1,50 per pound. That means a 50-pound dumbbell can cost around $45 to $60. It would be strange for you to have to pay $2 or more for a dumbbell that’s this heavy. https://torokhtiy.com/blogs/guides/how-much-dodumbbells-cost https://www.kens5.com/article/money/would-you-pay-double-the-price-for-used-dumbbells-manypeople-have/273-fb66762e-a240-40b6-9cf8-ae0e1320704e Link to the marketplace selling dumbbells at a higher price Pandemic Sales During Covid: there was a sudden surge of demand that created shortage Dumbbells, Weight benches, treadmills, squat racks were impossible to find in stock in store and online. If the equipment was in stock online, it will take up to 5 months or more to be shipped because due to labor shortage (Manufactures Struggled to keep up with demand) People on Facebook market were selling their equipment to a high price due to the increased of demand https://www.garagegymreviews.com/gym-equipment-availability (relatable graphs on gym equipment supply through the covid years) Traditional dumbbells saw the biggest increase in median price at 21.12% - - https://economicstudents.com/2020/04/the-unprecedented-panic-for-home-gyms/ This diagram above shows why prices for gym equipment are so high Demand shifted from D1 to D2 which shows a steep price and quantity increase for the new equilibrium E2 When covid happened a many of the gyms closed downs this led to rising panic amongst the general public because their fitness goals were now compromised o This led to a huge demand increase for gym equipment which resulted in increased prices traditional dumbbells that saw the biggest jump in median price—21.12 percent from April 2020 to September 2021 Post-Pandemic Sales - Post: Now is easier to find gym equipment but there is still limited amount of supply and the prices won’t be going down After Covid, people enjoyed working from home and have canceled gym memberships Demand for gym equipment is still high - - Reason why price will not decrease for gym equipment because of Increased demand means companies will have to charge more for fitness products increased demand and limited supply had a significant impact on the price point of most fitness equipment. Due to importing goods is costing more To get product from oversees and inflation has cause the price to not go down - Cost increases due to supply and demand Cost of steel Cost of importing products Inflation - Conclusion https://www.garagegymreviews.com/gym-equipment-availability Useful Websites: https://www.technavio.com/report/dumbbells-market-industry-analysis?nowebp https://qz.com/how-pivot-points-can-help-you-make-a-career-change-1850011934 https://www.figma.com/team_invite/redeem/i5ADox6KzRaExoo8W49VID Distribution of Slides Shubham – slide2,4,6 Brenda – slide 3,5,7 Conclusion – together
