Peloton was experiencing plenty of success before the pandemic struck, but the inability for fitness fanatics to get to studio classes has probably accelerated the firm’s trajectory.
The problem is, for most people, Peloton’s branded bikes and treadmills are still prohibitively expensive. Now the firm might be able to address its biggest barrier to entry.
A Bloomberg report says the Peloton will imminently launch a new treadmill called Tread, which will be more than 25% cheaper than the current model. According to the report, it’ll cost less $3,000 – much less than the current $4,295 bike.
The new product will be called Tread, the sources say, with the reduced price bringing sacrifices like a smaller build and a cheaper belt system more akin to other treadmills on the market.
Related: Best fitness tracker 2020
In terms of improvements there will be a tablet screen that’s more adjustable than its predecessor, that would make it easier to do other kinds of workouts in the vicinity of the machine. So, when they aren’t running, users would still be able to take part in boot camp and strength training video classes and get a good view of the screen. The company will continue to sell its existing high-end treadmill under the name Tread+, the report says.
Today’s report also claims a new high-end bike is on the way, which will also adopt the adjustable tablet. The new premium ‘Bike+’ is likely to cost more than the current $2,245 model, which will in-turn drop to under $1,900 according to the report.
Cheaper hardware seems to be the next logical step for Peloton, considering its business model relies on repeat subscriptions. Currently many who can’t afford the branded products continue to take the classes on inferior hardware. This may be a way in to a united ecosystem for some users.
Would a lower price point open you up to a Peloton product? Let us know @trustedreviews on Twitter.