The peloton bike is an indoor stationary exercise bike, designed and distributed by the peloton company. It’s distribution started in 2012 when the bike would be selling at 1,200 dollars. Imagine that! Then, compare it with the current ostentatious cost.
Anyway, the bike is high quality, with all the features on the higher side of quality, comfort, and convenience. Besides the bike equipment, a single purchase further brings you a 22-inch LED touchscreen, enabling you to start peloton workouts as soon as the installation process is over.
Peloton Bike Cost Revolution
As i tipped you off at the introduction, the peloton bike sales kicked off in 2012. However, the initial sales were not that good, despite the huge investment spent on advertisement. Wondering how in the world peloton was not popular? Well, the simple answer is that it was cheap! Seriously? Yes!
The peloton CEO admitted to this in an interview he had with Yahoo Finance. Apparently, potential customers thought that the bike was cheap because it was made of poor quality.
Using this argument, Peloton went ahead and hiked the price of the bike to 2,000 dollars. Surprisingly, the sales shot by an astonishing margin.
Later on, the bike would be priced at 2245 dollars, which has remained constant over the years.
However, in 2020, the company intended to lower the price to favor those with constricted budgets. Sadly, the rise of the Corona Virus halted this mission. The company had so many orders that they couldn’t concentrate on other things.
But all is not lost because now the bike is going at 1895 dollars, saving you a few hundred bucks. Better still, if you would rather be on the luxurious side, the new Peloton Bike+ is already in the market, going for 2495 dollars. It has a larger screen and other accessories with it.
If you want the peloton bike+ but already have the previous peloton bike, you can only return your bike for an exchange at 700 dollars.
Peloton Bike At-Home Fitness Revolution
Essentially, the exercise bike was designed for home use. Though the company started with studio classes in New York, there was always an option to view the classes live from home.
If you have the Peloton bike, you would require a subscription of 39 dollars to stream the workouts live. The subscription further facilitates the recording of metrics into the Leaderboard. Here, you can compete with like bikers and friends. You can also chat and high-five whenever there’s an achievement.
You also interact with the competitive peloton instructors, who are actually each professional and talented in their training section.
On top of that, with the peloton bike subscription, you can have as many users as you want with the same subscription. Initially, Peloton had an average of twelve users per subscription. After Corona Virus, a single subscription takes an average of 25 classes, slightly higher than double the initial number.
The better part is that you can decide not to pay for the subscription when you have the bike, especially if live classes don’t make a difference. In this case, you can use the on-demand classes, whose archives grow by day. Each live class is recorded and archived, hence available for the on-demand class users.
Sensitive to other interested users who may not have the bike, the peloton bike workouts are available through the digital App. Subscribers had to pay 19.49 dollars to access the peloton classes, both live and on-demand.
Though they cannot participate in the Leaderboard as their metrics cannot reflect, they get the desired peloton experience.
Peloton Bike Demand
Once the peloton bike surge started, the peloton bike sales have been going up. However, none of the sales rises can compare to when Covid-19 hit and curfews declared.
There were so many orders that the company could not manage to make deliveries on time. Actually, their profits were realized within the first quarter of the year. By the time the year was done, the profits had exceeded 70 percent, with the shares rising to over 200 percent.
When the company declared the fall in the original bike’s price, the orders increased even more.
And, the bike+, which is much more expensive, is also having its share of demand. It comes with peloton shoes, a bike mat, water bottle, among a few others. So, one will have saved themselves from the hustle of having to order other accessories separately by considering this package.
Of course, starting the peloton venture was the most daring, and Foley, the CEO of the company, admits that he got negative answers from investors at the beginning. I mean, who wants to invest in a crowded market?
However, Peloton stands out from other bikes with its subscriptions, in addition to its trendy outlook. Most other bikes do not have personalized subscriptions and those that do have the shortcoming of all the classes being recorded.
Nevertheless, this simple disadvantage does not deter people from preferring other exercise bikes over peloton bike. The fact that Peloton has the Digital App, which you can use with other bikes, works in favor of other brands.
So, customers can purchase bikes from competing brands, then use the Peloton Digital App on bikes. Besides, it is cheaper to subscribe to the App than to the Unlimited Membership subscription.
But then there is the most recent daring competition for Peloton, Apples Fitness + App. It will have all the benefits that Peloton guarantees its customers, and the cost cheaper than Peloton.
Sadly, many people using Peloton are Apple fans; hence peloton updates to suit Apple products. For instance, Apple Watch is the only watch to get the Peloton app to connect directly from the iPhone.
Anyway, the peloton bike might just come up with other resolutions. You never know: it is always surprising us and managing to stay at the top.
And from what we get from last year, the bike is already celebrating huge profits.