Peloton to sell fitness apparel and equipment on Amazon
Fitness enthusiasts will rejoice as Peloton and Amazon team up. Embarking on a new strategy, the fitness company confirmed it will sell certain accessories and bikes via the online retail giant in the US. Emerging from their usual practice of just exclusively selling products via their retail stores and website, the fitness enterprise chose a good move.
The New York-based company Peloton is looking to expand the distribution of its products in Amazon’s wider online market. This means that its products will now be more readily available. Along with the goal to expand its customer base, it also aims to gain back the investors’ trust. The company’s revenue plunged during the pandemic while their stocks drop too.
Starting Wednesday, consumers will find a selection of fitness equipment and accessories on Amazon’s website. This is the company’s first attempt outside of its direct-to-consumer trade.
The available fitness products will include the Peloton original bike which costs $1,445. A strength product known as Peloton Guide will also be available at $295. However, its more expensive Bike+, and the Tread treadmill machine will not be available on Amazon.
#USMarketsAtOpen | S&P 500 opens down 0.1%, @Nasdaq 100 little changed#Peloton jumps 12% on plans to offer products via #Amazon stores pic.twitter.com/poStz0s0WY
— ET NOW (@ETNOWlive) August 24, 2022
In addition, the fitness company’s stock soared more than 18% at the first stage of trading. Peloton’s Chief Commercial Officer Kevin Cornils said that there are almost half a million consumers searching for their products on Amazon each month. The results are this huge even if their products weren’t still up on the website.
Cornils said, “Post-Covid, the retail environment – online and in stores – is continuing to evolve, and that’s something that we’re trying to understand better to make sure the Peloton of the future is calibrated appropriately for that. We want to make it as easy as possible to get a Peloton.”
Peloton’s online retail partnership
Under CEO Barry McCarthy, Peloton aims to expand its distribution globally while lowering products cost to get back the profitability of the business. The company invested in an $800 million restructuring plan when the founder, John Foley, dropped the CEO role. This is when Peloton’s losses are out of control.
Moreover, fitness buffs can now order a wide selection of Peloton accessories via the Amazon website. Bike mats, branded cycling shoes, weights, yoga blocks, heart rate armbands, and water bottles will be available at the site.
SCOOP: Peloton is pushing beyond its DTC roots and will begin selling a selection of equipment and accessories, including its OG Bike, on Amazon. The company tells me this is about accessibility and meeting customers where they're shopping. $pton $amzn https://t.co/qjbUrBaQ0K
— Lauren Thomas (@laurenthomas) August 24, 2022
Furthermore, shoppers will also see branded sports apparel. Such as leggings, sports bras, tank tops, shorts, jogger pants, and even hats.
In addition, shoppers who order a Peloton Bike from the Amazon website have the option to choose a self-assembly option. Instead of scheduling for a professional to build it together, consumers can now choose to assemble it on their own.
Cornils added, “this is really a good start for us, with a digital retailer, to test the waters.”
Soon, Peloton might sell a wider variety of its products on Amazon when it learned what people are searching for the most. Cornils also added that the company is open to looking for other retailers to further extend its reach. Amazon is popularly known for widely selling fitness accessories such as fitness trackers and more.
Furthermore, Peloton’s customer support team will still manage service inquiries and requests. Particularly those related to maintenance requests, repairs, general inquiries, and subscriptions. On the other hand, Amazon’s customer support team will give support to product purchases, deliveries, returns, and installations.
As an Amazon Associate INQUIRER.net will earn from qualifying purchases.
