I am a dedicated user of all things Peloton, from my trusty 4-year-old Bike to the at-home fitness giant's robust mobile app, and I have happily paid whatever was asked of me for both. But what I paid for my equipment in 2021 and what I still pay for my All Access Membership now may not be what you or I are paying in the future.
One of the most crucial pieces of information in the letter is a promise to focus on "improving monetization," which falls under the subheading of "business excellence." The company says it will "become more sophisticated" when it comes to the use of promotions and, crucially, "will adjust prices to reflect [its] costs," like shipping, returns, tariffs, and other fees Peloton is currently shouldering the burden of.
So, it sounds like free equipment setup is a thing of the past. When I got my Peloton Bike and the Bike+ the company loaned me to test out, setup and delivery were free—but in both cases, I could have handled it myself. I watched the setup guys and came to the conclusion that, with some written instruction, I would have been able to do what they did just fine, although it was certainly nice not to have to.
Peloton is, however, sticking with its Special Pricing program to make equipment more affordable for teachers, military personnel, first responders, and medical professionals. As of right now, the program grants qualified buyers up to $600 off equipment and membership discounts, but the price cuts differ depending which special group you belong to.
Layoffs are also part of the plan
In other words, layoffs and relocations are coming, which is probably something we could have guessed at, given the recent closure of so many Peloton showrooms.
Buying options for you
If I were in the market for new equipment, I'd buy now, just to be safe and avoid possible price increases on both the devices and their installation. The promise of beefed-up class offerings makes getting new equipment appealing, too, even without the threat of rising costs.
Don't forget, either, that you have options in the event you can't foot a $2,000+ bill right now: Peloton has its own newly launched resale platform, Repowered, which currently allows you to buy pre-owned devices at steep discounts. There are also other trustworthy resale platforms out there that can help you stay away from the danger zones that are Facebook Marketplace and Craigslist.
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