Forget drinking, Gen Zers are heading to high-end fitness clubs to make friends and socialise

At 7pm on a Friday in London, the lobby of Third Space in SoHo looks more like a members’ club than a gym. There’s a humming smoothie bar, twenty- and thirtysomethings in colour-coordinated workout sets, and a steady stream of arrivals heading to reformer Pilates classes. A decade ago, a similar crowd might have been at the pub, drinking anything but a smoothie. Across the UK and US, younger consumers are redirecting their discretionary income from nightlife to fitness. Gym-related spending...