Piloton wants you to sell this dusty bike

Was your Peloton bike collected dust or doubled as clothes? You are not alone, and now Fitness Tech is facilitating obtaining these unused bikes in the homes of people who will already ride them.

Peloton has just expanded its reselling market for bicycles, mills and rowing machines at the country level. Peloton first launched the platform in June in a few markets – Buston, New York and the DC metro area. Since then, users have created more than 400 lists and have completed nearly three tens of sales. The expansion is part of the broader transformation strategy of the troubled company.

“This initiative provides a valuable service to our society, and provides an accessible entry point for new members, a comfortable way for the current members to upgrade or sell their equipment, and an opportunity to give our equipment a second life,” said the chief product employee Nick Caldwell in A. press release.

Starting today, Peloton owners throughout the country will be able to list the equipment and accessories used on the platform. Buyers throughout the country will be able to make purchases in August. Piloton says he will suggest prices based on market trends and user equipment, but sellers are still specifying the final price. Those who empty their old devices on the market will earn some money from selling and will get a discount to buy the following Peloton.

Bikes Market It is listed at less than $ 289, and hundreds of dollars are cheaper than the original retail price of $ 1,445.

Peloton was launched in 2012 and soon gained a reputation as a brand for distinctive fitness, as expensive equipment was sold with built -in screens flowing and connecting to the direct exercise chapters through an additional subscription. The company made its step during the Covid-19s, when the gyms were closed and people were scrambling with ways to stay active at home.

But this momentum did not last. With life slowly returning to normal after the epidemic, as well as a routine of experimenting with people outside the home. The shares of the company decreased by 95 % of early 2021 from about $ 170 per share to about 6 dollars today.

Peloton’s fitness equipment sales are still decreasing. In May, the company announced a 27 % decrease on an annual basis in equipment sales during the third quarter of financial.

Earlier this year, Peloton Peter Stern – Head of the Department of Services in Ford in Ford – brought to the position of CEO. Before his time in Ford, Stern spent years in Apple, where he led the company’s services department and supervised products such as Apple TV+ and Apple Fitness+.

in Bloomberg Technology Conference In June, Stern said that the new Marketplace is a major part of the Peloton’s transformation strategy. He said that the used market was one of the most effective ways for the company to bring new members.

“There are many Beluton bikes in particular that are in the world that are not exploited – and this is not good,” Stern said.