Peloton will offer used versions of their in home exercise bike. All bikes will be refurbished, certified, and come with a 12-month warranty for piece of mind.
In an effort to increase ridership, Peloton previously offered certified refurbished bikes from their app for as low as $500.
Consumer disinterest in expensive spin classes is not exclusive to Peloton. SoulCycle, which offers in person cycling experiences, closed 25% of its stores nationwide in August. in March 2020, which is currently priced at $2,500 but on sale for $1,500. SoulCycle, which offers in person spin classes, went from Peloton's rival to its direct competitor with the release of their at home bike in March 2020.
The company earlier this year expanded its rental program in the U.S., giving consumers a month-to-month option on its Peloton Bike and Bike+ models.
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