An American company that offers equipment and app for exercise during pandemonium has grown into a real giant. The boom for home-based solutions to stay in shape seems to have no end.
Peloton is a brand that has been in the home fitness business since its inception – there are many such companies. Each of them offers expensive gadgets and equipment that are supposed to improve users’ fitness. Peloton’s first product was an internet-connected, large stationary bike equipped with a 22-inch touchscreen. The price? Over $2,000 plus $39 per month to work through workout plans and subscriptions. And that. became the beginning of success.
In addition to its bike, Peloton also sells an advanced treadmill. Likewise, with a large screen and a hefty price tag of more than $4,000 a piece. Despite the price tag, Peloton managed to hit $400 million in sales in 2016, and the company’s market share continues to grow year after year. This is because Peloton is betting on its exercise platform, not the equipment itself.
Indeed, Peloton doesn’t sell simple equipment. The company has spent tens of millions of dollars developing a rich experience sold through an interactive platform. At the core of the American company’s business is a specially designed platform designed to not only train users, but to give them the feeling of having their “own” personal trainer available anytime.
The software takes care of personalizing the classes and the feeling of belonging to an exclusive group of exercisers. Peloton has designed the “trainers” so that they form a bond with the user. The brand additionally creates a plethora of workout plans, activities, and challenges to motivate everyone to participate in sports.
With Peloton, you can progress in sports such as cycling, running, and even practice yoga and meditation. The range of services is really wide. The user-centric approach has helped the company secure nearly $1.2 billion in funding.
At the beginning of the pandemic, Peloton changed its strategy – all workouts disappeared from the studio and were sent to users directly from trainers’ homes.
Recently, the brand unveiled Bike+ – a brand new bike that is meant to serve both beginners and absolute professionals. The bike will feature a hi-fi sound system, a display, an internet connection or the ability to customize parameters for each person.
Apple versus Peleton
The future of fitness clubs and gyms may quickly move into homes. After all, you can expect the Peloton brand to be followed by plenty of other companies. One of them is already Apple with its Fitness+ service, which can be called a simplified version of what Peleton offers. Instead of specialized equipment we use Apple Watch and videos on iPad. It’s not as professional as Peloton, but much cheaper and widely available.