Did Equinox And SoulCycle Work Out a Boycott?
Did the online war really transcend into the offline world?
Post the announcement made by Stephen Ross on August 6 about his plans to host the Trump fundraiser, the high profile billionaire and Chairman of Related Companies that owns Equinox Fitness (parent company of SoulCycle) saw backlash on social media with trending tweets from A-list patrons like Chrissy Teigen, Billy Eichner and Kara Swisher.
It made us wonder whether this online war transcended into the offline world. What better way to know than to look at visitations at the SoulCycle and Equinox locations across the US.
To understand the impact of the boycott Near analyzed footfalls across 70 SoulCycle and 91 Equinox centers in the US between:
- July 7 – August 20
- August 1 – September 10
Here’s what we found:
“Till two weeks post the announcement, there was a decline with SoulCycle bearing the brunt”
There was a marginal dip on August 8, the first day after the announcement, and the day after the fundraiser on August 10, the number dipped by 56% at Equinox centers and a jaw-dropping 70% at SoulCycle centers across locations in the US.
On comparing the average footfalls of July 7 – August 6 to August 7 – August 20 (without Sundays), there was a 1.3% drop at Equinox centers, and 16.4% dip at SoulCycle, showing a much bigger impact on the latter.
In an attempt to redeem its fast-declining footfall, both SoulCycle and Equinox released statements iterating that the brands had nothing to do with Stephen Ross’ fundraiser.
On studying the footfall data post the announcement, we found that by the first week of September the situation seemed to have normalized with footfalls being at par with the footfall during the weeks prior to the announcement break.
“Within a month the trend seemed to have normalized”
Thursdays and Fridays seem to be the busiest days of the week at Equinox centers, whereas Tuesdays and Thursdays are popular among SoulCycle members.
With such data-led insights showcasing impact on specific locations, Equinox could have responded more quickly and reached out to its customers accordingly.