You may have heard a lot about this brand in the news lately, thanks to this commercial that created quite a stir in the internet world. With so much publicity, many of us are just barely learning about this exercise brand and what they do.
From their mission statement, “Peloton uses technology and design to connect the world through fitness, empowering people to be the best version of themselves anywhere, anytime.”
Peloton, a fitness and exercise brand, was founded in 2012 aimed to create workouts that would fit the schedules of busy users, and improve the experience of at-home workouts.
Peloton sells stationary bikes, treadmills, has an associated app, and also sells accessories and apparel. Treadmills and bikes have been around for years though, so what’s the difference? The Peloton founders felt like technology for in-home workouts didn’t keep up the pace of improved experiences in gym workouts and spin classes.
Peloton is capitalizing on the experience. They are selling not only a bike, but memberships that enhance the experience of that bike. Every bike and treadmill comes with a large screen in the front, which allows users of the bike to join online classes and complete workouts with Peloton trainers.
Community is a big part of the Peloton experience as well. Users can connect with friends and other classmates, which allows them to see who of their connections is working out at the same and take the same class. Users can follow each other and see how they stack up against other users taking the same class on the leaderboards.
For those without a Peloton device, customers can still access the thousands of live and on-demand classes through a digital membership and the Peloton app.
As of December 2019, the Peloton bike costs $2,245, although there are financing options available at $58 per month at 0% APR.
The Peloton treadmill costs $4,295, with financing options available at $111 per month at 0% APR.
The Peloton membership, which requires a Peloton bike or tread, costs $39 per month and provides some of the following benefits:
For individuals who do not have a membership, digital memberships to the app can be purchased for $12.99 per month. This membership includes:
The digital membership lacks features in the community, leaderboards, and workouts designed for the Peloton devices.
A free 30-day trial is available for those that are unsure whether a Peloton is right for them. The Peloton bike or treadmill will be delivered to your home and installed by a Peloton representative. Peloton will come and pick up the bike, as well as provide a full refund if you feel like it isn’t for you.
An alternative to the 30-day trial is the option to visit a showroom. Peloton has showrooms in many of the larger metropolitan areas in the United States. At a showroom book a test class, try the bike, and get a tutorial of how things work.
Peloton highlights their trainers as world-class instructors that help develop and enhance your workout. Instructors lead classes in cycling, running, as well as yoga. Users can find their favorite instructor and sign up for the sessions they lead. Some instructors specialize in a single type of workout, such as biking, while other instructors oversee multiple session types. The schedule of live classes can be found by visiting https://members.onepeloton.com/schedule.
Peloton also understands that many of its users have to travel for business trips, and don’t want to miss out on the workouts, classes, and programs they have been used to. Peloton has partnered with hotels across the United States to make sure that their bikes are available to their guests. If you have a Peloton membership, you can hop on the bike at the hotel, log in to your account, and complete your normal workout.
While Peloton’s ads might be quite persuasive, at the end of the day, people trust people. In fact, 96% of consumers do not trust ads. Here is what people think of the brand:
Since launching in 2012, Peloton has sold approximately 400 million bikes. Today, the company is estimated to be worth $4 billion. So far it seems people truly love the product and are willing to make such a big financial investment.
But is it worth the cost? It is something that you will have to decide for yourself. Peloton targets people who find time to be a scarcity. If you fit that demographic, it can be a good option to consider.