PELOTON Connected Fitness Revolution
Forget about the old-school exercise bike your parents had probably bought one day and rapidly stored away because of the lack of motivation. The time has come for spinning bikes, far more sophisticated and fun to ride for worthwhile cardio training workouts. Almost every fitness clubs have now reserved a special space for cycling training programs, that are increasingly popular especially among young and urban women.
Lately, some gyms and health clubs have even decided to focus 100% on spinning and have given up any other sporting disciplines. Following famous American clubs like Soul Cycle and Equinox, Dynamo Cycling opened a spinning club in Paris 2 years ago.
New-York based company PELOTON has pushed the spinning business a step further and has invented a new definition of group fitness. Founded in 2012, Peloton is an at-home subscription service for cyclists.
How exactly do they work? Well, first you buy a bike specifically designed by Peloton equipped with a giant 22-inch tablet screen and WiFi ($1,995). Built with magnetic resistance and a belt drive, this bike is claimed to be the best on the market.
Peloton operates a production studio that has 12 instructors live-host workouts that are then streamed to Peloton-designed bikes. Approximately 275,000 bike owners from around the world simultaneously stream the workouts as they happen, to simulate the experience of a workout class staying at their home. Brilliant, isn’t it ?
To access the service you have to sign up for a monthly membership ($39) that gives you access to unlimited streaming rides, both live and on-demand, and unlimited accounts for the bike. They even have themed rides, like you’d find in a brick-and-mortar studio. When you join a live class, the instructor sees a leaderboard of everyone getting their pedal on, and to make it even feel even more like you’re in an actual class, the instructor will occasionally shout out to riders taking the class from home
If Peloton can run its business without investing money in gym clubs, the brand has decided to open stores/showrooms instead. Peloton run already 14 stores throughout the country, in prime shopping malls preferably. The Peloton stores have the same sort of feel as an Apple store. You’ll go in, test out the product (you can even try out a live class if one is happening during the time you’re there), then order the bike there or online. The showrooms also feature apparel and bike accessories for in-store purchase.
“The real strategy behind retail is to set up locations where people can come engage with one of our sales folks, get on the bike, put the headphones on, experience how smooth, silent and sturdy the bike is, but also get into a class and understand the power of what that delivers,” Tim Shannehan, Peloton’s chief revenue officer and head of the brand’s retail strategy, told PhillyVoice. “Having that first-hand engagement is critical.”
If your are interested by “new retail concepts”, click HERE to read my previous articles on this topic.