Peloton is a Fitness Company based in the United States of America. It specializes in providing stationary bikes and treadmills to elite clients all over the globe. Peloton’s stationary bike is equipped with state-of-the-art technology. This bike connects to professional trainers’ workout videos via monitors. Because it is easy to use, this equipment gained popularity online. It has also led to an increase in demand for fitness equipment. Each bike cost $1200 at its initial price. Due to increasing demand, the company increased the subscription fee to $1925 and raised its price (Carlson 2019, 2019. The firm was publicized almost one year ago and now has a market capitalization of more than 4 Billion dollars. Some critics have criticized the company, saying that their prices are too high and unaffordable for most people. It is often called the “bike of the wealthy” by critics who love to show off their luxurious homes. It is an excellent investment as you will have an unforgettable experience.
The Business model that can lasts
Peloton’s high-tech bikes are a great investment and a long-term business model. This builds brand loyalty. It is important to note that stationary bikes are claimed by many users as providing a unique experience in fitness. You can also access on-demand videos for beginners and fitness professionals. (Carveth 2020). The best industry instructors have created these workout videos. These videos will become more famous as celebrities are attracted to them. This helped build the company’s reputation and it is now one of the most respected fitness businesses in America. Attracting prospects and making them loyal customers is possible. Customers who are loyal to your company will make repeat purchases and subscribe to you, which in turn leads to sustainable income.
Because of their novel coronavirus, and the busy work schedules, Peloton bikes are a very popular option. Covid-19 required that the government and state restrict access to gyms and exercise areas. For this reason, making it hard for others to gain access to these facilities and exercise (Tuzovic & Kabadayi, 2020). The possibility of contracting the virus is a concern for fitness enthusiasts. Avoid crowded places. Some people may find it hard to commute so prefer riding their bicycles at home. Remote work could be a preferred option for companies in the near future. Many others may opt to workout at home instead of having to travel to the gym. This is a great advantage for Peletons bikes. To accommodate remote and busy work schedules, they will be readily available.
Peloton pricing and its image: What is it all about?
Peloton equipment’s high price can create a gap in people’s perceptions depending on their socio-economic situation. In the past, those who had limited resources complained about overpriced stationary bikes. This group will most likely seek out equipment that suits their requirements elsewhere because of the excessively high prices. Some people believe that the more expensive the equipment, the better. These people are encouraged to participate in the bike-fitness community. The group is made up of some the richest people on the planet. The brand’s price is prohibitive for people on low incomes, but it encourages others with higher net worth to become members of the community.