Tag: Peloton Bike+

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Peloton launches its rental program in Canada

Peloton is bringing its rental program, which includes the Peloton Bike or Bike+, to Canada after a spell of success in the US market in 2022.

The move is an effort to provide Canadians with a more affordable and flexible option for indoor workouts, allowing users to test out Peloton bikes without the need for a long-term commitment.

Canadians in select provinces will now be able to rent month-to-month with the original Peloton Bike starting at $129/month and the Peloton Bike+ for $169/month. Both rental prices also include a $250 one-time set-up fee. The Peloton Bike+ differs from the original by featuring a larger, rotating screen and optional automatic resistance control for live classes, along with additional features.

Both monthly fees include the cost of a Peloton membership, giving users access to the company’s entire collection of live and on-demand classes. The classes span 14 different fitness styles, such as strength, cycling, yoga and meditation.

The Peloton Rental program is available now in all regions that the company currently delivers in Canada. The program also allows participants to choose whether or not they wish to continue renting or buy out their Bike/Bike+ during the rental period.

To learn more, visit OnePeloton.ca

Image credit: Peloton

Source: Peloton

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Mobile Syrup

Peloton teases new rowing machine as it continues expanding its fitness lineup

Peloton is teasing a rowing machine, its next big fitness expansion. The announcement marks a significant departure from its Peloton Bike line.

In a series of tweets, Peloton teases its rowing machine. First, the account tweeted a not-so-subtle rowing emoji. The company quickly followed that up with a short sneak peek video showing off a look at the rowing machine.

In the video, Peloton promises that the rowing machine offers a mix of cardio training with strength-building exercises. Based on the video and snippets we see of the machine, Peloton’s latest innovation features a minimalist design. As you’d expect, it also features a screen for classes and displays user stats.

The video concludes with Peloton announcing the rowing machine is “coming soon.” There’s no mention of the price of an actual release date. When asked when it will hit the market, Peloton merely directed eager consumers to subscribe to its mailing list on the OnePeloton website.

Peloton is steadily expanding its offerings within the fitness world. Of course, when many think of Peloton, they think of the Peloton Bike+ and Tread products. Of course, there’s also the Peloton all-access plan. Starting June 1st, Peloton’s all-access plan in Canada is increasing to $55/month. For the uninitiated, the monthly subscription service offers training programs and classes.

Recently, the company launched the Peloton Guide camera, which includes features for strength training and more accurate tracking. Our very own Nida Zafar went hands-on with the device.

Expanding from its bikes, treadmills, and now supplemental tracking systems, a rowing machine may offer a unique experience for users. A Peloton rowing machine can be a versatile device for users to have in their homes. It can offer a lot of focus on strength training while also providing cardio-based workouts.

The total size of the device as well as the price point will be determining factors in how widely a Peloton rowing machine is adopted upon launch.

Image credit: Peloton

Source: Engadget

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Mobile Syrup

Apple posed as Peloton’s only saviour among news the company is pausing equipment production

NEW YORK CITY CIRCA MAY 2020. As the COVID-19 coronavirus pandemic grows and with gyms closed, Peloton has become popular as an indoor fitness option for exercise especially while sheltering in place

A recent report from CNBC on Peloton’s manufacturing rate helped plummet the company’s stalk by 24 percent in a single day.

The American media outlet reported the exercise bike manufacturer was temporarily halting production of its fitness products because of a drop in consumer demand.

Internal documents revealed Bike productions will be paused in February and March. Production of Bike+ was paused back in December and will stay so until June. The Tread treadmill won’t be manufactured for six weeks beginning in February. Production of Tread+ was previously halted and likely won’t resume this year.

This fueled ongoing rumours. Insider reported the company is planning to lay off 41 percent of its staff in its sales and marketing departments.

Once noted as the darling of exercise equipment, the company is now struggling. CNBC notes the company overestimated how many people would be buying its products after a jump in sales from at-home workouts during the pandemic.

Now many are saying the only way to save the company is if Apple buys it out. Financial advice company The Motley Fool reports Apple has the cash to spare and “wants to be a force in health and wellness.” However, the article also notes a possible acquisition would “benefit Peloton far more than it would Apple,” given Peloton’s smaller “market opportunity.”

Peloton CEO John Foley has denied that production was slowing production and information reported on by the media was “incomplete and out of context.”

“Rumors that we are halting all production of bikes and Treads are false,” Foley wrote in a letter of response.

However, he did acknowledge layoffs may soon be on the horizon.

“We now need to evaluate our [organizational] structure and size of our team, with the utmost care and compassion. And we are still in the process of considering all options as part of our efforts to make our business more flexible,” he wrote.

Image credit: ShutterStock

Sources: CNBC, Insider, The Motley Fool