Follow the Smoothie, Not the Beer

InvestorPlace07-17 20:55

Meet Luke Lango Gen Z wellness spending is rising as fitness, run clubs, recovery, and functional drinks become part of social identity. Bank of America data shows Gen Z has the highest share ...

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href=https://investorplace.com/hypergrowthinvesting/2026/07/the-best-trade-nobodys-making-because-it-doesnt-involve-a-gpu/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Meet Luke Lango\t\t\n\n\n\n\n\nGen Z wellness spending is rising as fitness, run clubs, recovery, and functional drinks become part of social identity.\nBank of America data shows Gen Z has the highest share ...</p>\n\n<a href=\"https://investorplace.com/hypergrowthinvesting/2026/07/the-best-trade-nobodys-making-because-it-doesnt-involve-a-gpu/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XPOF","symbol_name":"Xponential Fitness, 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payments, supporting the barstools-to-barbells thesis.\nThe trade may favor Life Time, Xponential Fitness, and Dutch Bros while pressuring alcohol, casual dining, and bar-entertainment stocks.\n\n\n\n\n \n\nSource: irawan | stock.adobe.com\n\n\n\nListen to the audio version of this article (generated by AI).\n\n➕ Follow Luke on X\n📺 Check out our podcast: Being Exponential\n\n\nEditor’s note: “Follow the Smoothie, Not the Beer” was previously published in June 2026 with the title “The Best Trade Nobody’s Making Because It Doesn’t Involve a GPU.” It has since been updated to include the most relevant information available.\n\nThe old night out used to have a predictable rhythm.\nMeet for dinner. Order drinks. Stay out late. Spend too much money and call it a good time.\nThat rhythm is changing.\nFor a growing share of young consumers, the social calendar now looks different. Saturday mornings start at the gym. Friend groups form around run clubs. Recovery sessions get booked like brunch reservations. A functional drink can carry the same social signal that a cocktail once did.\nAnd the data is catching up to the lifestyle shift. Bank of America’s (BAC) latest payment data shows Gen Z has the highest share of households with a fitness-related payment. Life Time (LTH) is expanding hybrid fitness competitions. Dave & Buster’s (PLAY) reported falling comparable sales. Alcohol moderation is spreading beyond the youngest consumers. \nThe classic nightlife is losing wallet share to the new morning routine. \nFrom Barstools to Barbells: The Data Behind Gen Z’s Wellness Shift\nAccording to a February 2026 Bank of America report, gym-related spending among Gen Z and millennials is rising sharply as alcohol consumption continues to decline. \nA separate survey from Mintel found that 77% of U.S. Gen Z consumers say they are more focused on wellness than they were a year ago, with 30% spending more on gym memberships and classes in that time.\nWith over 3.4 million posts under #Pilates on Instagram alone and TikTok overflowing with gym routines, “what I eat in a day” videos, and run club recaps, fitness isn’t something Gen Z does. It’s something Gen Z is. \nWhen identity changes, spending follows. And when spending follows, stocks eventually do, too.\nWhy Fitness Is Becoming Gen Z’s New Social Infrastructure\nHealth is only part of the story. These premium gyms and boutique studios are functioning as social infrastructure – filling the community void once occupied by bars, restaurants, and even offices.\nThe data bears this out. According to Bank of America, Gen Z households spend 2.8 times more than baby boomers on fitness. Fitness club foot traffic has surpassed bars and pubs by 22 percentage points since 2021. Non-alcoholic beverage spending has outpaced alcoholic alternatives by 28 points over the same period.\nAnd the data keeps moving in the same direction. On June 16, Bank of America reported that roughly 21% of Gen Z households now have a fitness-related payment, the highest share of any generation. It also cited McKinsey data showing that 56% of Gen Z says fitness is a “very high priority,” versus 40% of U.S. consumers overall. \nThis is identity showing up in household payment data. \nSpending on premium fitness carries a social ROI that a traditional gym membership never had. You don’t build your professional network at a $30/month big-box gym. But at a $300/month Equinox or a $40-per-class boutique studio? \nThe switching costs and community lock-in are real. And for the consumers most committed to this lifestyle, the willingness to pay has been remarkably sticky, even with rent, student debt, and a brutal job market applying pressure. Some are spending $500-plus per month on fitness and recovery because the category has become part of who they are.\nThe Long Side: Three Wellness Stocks Built for Gen Z Spending\nAgainst this backdrop, three names stand out as the highest-conviction expressions of this trend in public markets.\nLife Time: The Premium Fitness Social Hub\nLife Time (LTH) is the cleanest public-market expression of this shift. The company has spent years building what it calls the “athletic country club”: large, high-end facilities where fitness, recovery, work, and social life overlap.\nIts LT Games expansion makes the model even more interesting. Life Time is bringing its hybrid fitness competition to Dallas, anchored by a dedicated HYBRID XT studio in Frisco. That turns the gym from a place to work out into a recurring social-and-competition platform. Planet Fitness (PLNT) owns the budget lane. Life Time owns the high ground.\nXponential Fitness: The Boutique Studio Platform\nXponential Fitness (XPOF) is the franchisor behind the entire boutique studio ecosystem – Club Pilates, CycleBar, Pure Barre, Row House, Rumble Boxing, and more. The asset-light franchise model captures the brand and community value without the real estate risk. XPOF has been beaten up, and it is not the cleanest operator in the group. But in a secular growth story, a damaged stock can still become interesting if the underlying category keeps expanding. \nDutch Bros: The Morning-Routine Beverage Play\nDutch Bros (BROS) is the least obvious pick but arguably the most interesting. The wellness trend isn’t just about where Gen Z works out – it’s about the entire morning ritual that replaces the hangover recovery of previous generations. Up at 5 a.m. for the gym, strong coffee or functional energy drink before the session, no bar the night before. With its customizable, high-energy beverages and protein coffee, Dutch Bros is built precisely for this demographic. When the macro headwinds eventually clear, BROS is positioned to be a significant beneficiary.\nThe Short Side: Stocks Losing the Old Night Out\nWellness isn’t just gaining dollars. It is taking them from somewhere else.\nAnd the places losing that cash flow are increasingly clear: alcohol, casual dining, and bar-centered entertainment.\nIn fact, rather than one narrow cohort going sober, we’re seeing a broader cultural move away from alcohol as the default. Recent IWSR data reported by the Financial Times suggests baby boomers are now cutting back most sharply, while new Attest research frames Gen Z’s shift as moderation, home consumption, and more flexible low-alcohol behavior. That actually strengthens the short-side thesis. \nBoston Beer: Craft Beer’s Replacement Cohort Problem\nBoston Beer (SAM) is the cleanest short in the alcohol space. Craft beer was supposed to be the cool, premium alternative to mass-market beer – precisely the type of product that captures younger consumers. It isn’t working. Its hard seltzer brand Truly was supposed to be the Gen Z entry point. But there is no pivot available when the replacement cohort simply doesn’t drink.\nDave & Buster’s: The Old Friday-Night Formula\nDave & Buster’s (PLAY) is the cleanest short against the old night out. The company sells the exact Friday-night formula this thesis says is losing share: arcade games, food, and a heavy alcohol attachment inside large venues that are hard to reinvent.\nThe pressure is already showing up in the numbers. Q1 revenue fell 1.5% year over year, while comparable-store sales dropped 5.4%. Management is trying new games, food-and-beverage upgrades, and World Cup activations. But those are tactical fixes against a structural problem: the social occasion Dave & Buster’s was built around is losing share. \nBloomin’ Brands: Casual Dining Under Pressure\nBloomin’ Brands (BLMN) – owner of Outback Steakhouse – represents the casual dining category losing to boutique fitness social events. It carries the weakest balance sheet among major casual dining operators, making it most vulnerable to sustained structural headwinds.\nThree Long/Short Wellness Trades to Watch\nIf you want clean expression of this thesis:\n\nLong LTH/Short SAM – premium fitness social hub directly cannibalizing craft beer’s Friday night occasion\nLong XPOF/Short PLAY – boutique studio franchisor vs. bar entertainment venue, competing for the same Gen Z “where do I go tonight” budget\nLong BROS/Short Molson Coors (TAP) – morning fitness culture functional beverage vs. traditional beer whose core demographic is literally aging into retirement\n\nWhy Gen Z Wellness May Be the Cleanest Non-AI Trade\nAlmost every macro conversation in 2025 and ’26 has circled back to AI infrastructure. And rightly so – the ‘Pax Silica’ buildout remains the dominant investment theme of this era. But AI infrastructure investing is crowded, expensive, and requires navigating geopolitical risk, tariff exposure, and supply chain complexity.\nThe wellness trade is different. It’s a consumer behavioral shift playing out in plain sight, being documented in real time by Bloomberg, Bank of America, and Mintel. It requires no technology adoption curve, regulatory approval, or transformer architecture expertise. The tailwinds – Gen Z’s identity-level commitment to wellness, structural alcohol decline, and the social collapse that made boutique gyms the new “third place” – are durable across multiple years.\nThat same cultural force that is minting new revenue at Life Time and Xponential is quietly bleeding out Boston Beer and Dave & Buster’s. Long/short, the thesis is self-hedging and structurally clean.\nGen Z replaced the entire nightlife scene with something better – and built a $300-a-month subscription around it. \nFor investors willing to follow the smoothie instead of the beer, the setup has rarely been cleaner.\nThat is the broader lesson here.\nThe best trades often start as behavior most investors dismiss.\nA gym becomes a social network. A run club becomes a spending category. A functional drink starts replacing a cocktail. By the time Wall Street gives the shift a name, the early money has usually already moved.\nWe’re seeing a similar setup inside the AI trade.\nWhile most investors are still focused on the obvious headline stocks, private capital has been moving toward the physical layer underneath the boom: energy, nuclear power, chip fabrication, natural resources, and the hard assets required to keep persistent AI compute running.\nMost of those positions are locked away in private markets.\nBut seven public-market backdoors exist.\nAnd they may be some of the most compelling AI plays hiding in plain sight.\nSee for yourself.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\n Luke Lango\nEditor, Hypergrowth Investing\n\n\nMeet Luke Lango\nBy uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends.\n\n\n\n\n\t\t\t\tLearn more about Luke\t\t\t\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/hypergrowthinvesting/2026/07/the-best-trade-nobodys-making-because-it-doesnt-involve-a-gpu/.\n©2026 InvestorPlace Media, LLC","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2652837692","isCrawlerRequest":true}