SAN FRANCISCO--(BUSINESS WIRE)--Zenrez, the first company to bring sophisticated revenue management technology to fitness, today launches a bevy of new innovations — including a next generation dynamic pricing algorithm and a best-in-class iOS app — to market, as the company expands into new geographies across the U.S. and Canada, and successfully completes its half millionth booking.
These innovations extend Zenrez’s lead in both dynamic pricing for fitness studios, and in access to boutique fitness classes on a single-session basis for fitness-goers. Zenrez is the original player in both spaces, with four years of experience over competitors.
“Our first priority is in helping improve the economics of boutique fitness studios,” said Matthew Capizzi, co-founder and CEO of Zenrez. “These improvements will continue to increase utilization of studios, by maximizing the revenue of each class.”
In pursuing this strategy, Zenrez has brought many firsts to market — dynamic pricing and yield management for fitness studios, and an amazing, low-friction experience for consumers looking to book same-day fitness. The success with which Zenrez has executed on this strategy has resulted in it over 500,000 bookings across almost 1,000 studios — just as the service expands into new geographies.
Dynamic Pricing Algorithm Innovation
Previously only available to huge industries including airlines and hotels, dynamic pricing and yield management are operational innovations that can completely transform the economics of an industry. Zenrez is proud to announce today that the latest version of its dynamic pricing algorithm is live. “The fact that we’ve been at this for over four years and have over half a million bookings has provided us with the data and learnings to optimize our pricing algorithm — which translates directly into more revenue for studios,” said Matthew Capizzi, co-founder and CEO of Zenrez. “An advanced algorithm could help to sell one extra spot per day, which can generate hundreds of additional dollars per month for a studio. Or better yet it has the ability to sell one extra spot per class, which can generate thousands of additional dollars per month for studios. ”
But it’s not just the quality and volume of data that Zenrez has generated that has enabled this groundbreaking innovation. It has been developed in conjunction with researchers from Harvard Business School — one of the world’s foremost research institutions in operations management.
“Traditionally, revenue management techniques have been limited to industries that have more expensive products and longer booking lead times, like hotels and airlines,” said Harvard Business School Assistant Professor Kris Ferreira. “In fitness, Zenrez has brilliantly identified a new industry that will greatly benefit from revenue management principles, and is innovating to successfully help better match supply of fitness classes with demand from casual fitness-goers. I’m thrilled to be working alongside them with one of my doctoral students, Emily Mower, to develop new, cutting-edge revenue management techniques that are specifically tailored to address these differences, and to improve Zenrez’s value proposition to both studios and fitness-goers.”
Next Generation iOS App
Today, Zenrez launches Version 3.0 of its industry-leading app for busy fitness-goers, enabling them to book same day fitness classes at premier boutique fitness studios all over the United States and Canada. Innovations include new and improved class discovery functionality, adoption of the latest Apple iOS technologies including Apple Pay™ and iMessage™ integration, and a complete refresh of the already intuitive interface.
“An increasing number of consumers are looking to discover new classes and studios — and once they’ve found a class at a studio that fits their schedule, they’re looking to book into that class at the touch of a button,” said Matthew Capizzi, co-founder and CEO of Zenrez. “Our aim was to create the most streamlined user experience possible by eliminating any friction from the booking process, and with these latest updates I believe we’ve done just that.”
“Zenrez’s new app marks the first time that you can book and buy fitness classes with your fingerprint using Apple Pay, and can even book a class without ever leaving iMessage,” said Noah Tovares, Head of Product at Zenrez. “By sharing the classes you favorited, friends can join you in class by booking through iMessage by inputting their credit card info. No sign ups, memberships, or fees. It’s seamless.”
The latest version of the Zenrez app is available to download on Apple’s iOS App Store today. For users without access to the app, Zenrez’s fitness classes are also available at https://www.zenrez.com/marketplace.
500,000th Booking as Service Expands Into New Geographies Across the U.S. and Canada
Zenrez has just completed up its 500,000th booking. With new studios coming onto the platform every day, the choices for users as to where they work out are only increasing.
Since its last major update, Zenrez has launched in over a dozen markets. You can now use Zenrez to book fitness classes in the following major cities across the United States and Canada including: Austin, Boston, Dallas, Denver, Houston, Las Vegas, Los Angeles, New York City, Phoenix, Pittsburgh, Portland, Sacramento, San Francisco, Seattle, Salt Lake City, and Washington DC.
Zenrez provides yield management and dynamic pricing technology, and suite of software tools to help fitness studios increase the effectiveness of their customer acquisition and retention efforts. In addition, Zenrez’s marketplace provides consumers the best experience for discovering and booking the highest quality classes at the best prices with no monthly membership or fees. From yoga to cycling, bootcamp to barre, Zenrez is the perfect way to book same-day when you find yourself with time to sweat.