Why Singapore’s big-box gyms are losing to niche fitness studios

Property agent Raymond Heng had suspected True Fitness was struggling, but he did not expect the gym he had visited for more than a decade to disappear overnight. The closure was not entirely surprising given the region’s fiercely competitive fitness industry, but its abruptness left Heng, 47, in disbelief after paying S$8,800 (US$6,900) for a lifetime membership in 2013. “I guessed that they might not have been doing that well since branches have been closing over the years, but I did not...