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Peloton and Costco have partnered to sell the Peloton Bike+ at 300 of the club retailer’s U.S. stores and on its website this holiday season.
Costco members will be able to purchase an exclusive Bike+ bundle from Nov. 1 through Feb. 15, or while supplies last, according to a Peloton press release. It is the first seasonal retail collaboration in the U.S. for the exercise equipment company.
“The Costco brand is incredibly powerful and respected in the U.S. and abroad. Costco members know they are shopping for high-quality products from trusted brands with the best value,” Dion Camp Sanders, Peloton’s chief emerging business officer, said in a statement. “We’re excited to learn from this first seasonal collaboration in the U.S. and hopefully expand distribution of Peloton products to new geographic markets with Costco in the future.”
The self-assembled Peloton Bike+ will retail in-store for $1,999 and online with delivery for $2,199. All-access membership, which is required to access content for the Peloton Bike+, is $44 per month.
The struggling DTC company has been leaning more on wholesale partnerships. In 2022, Peloton started selling on Amazon, marking the first time the company went outside of its DTC channels.
Peloton relaunched its brand this spring to “better communicate the brand value proposition,” then-CEO Barry McCarthy said.
“We’re primarily known as a bike company, but the behaviors of our members extend well beyond that into many different categories of exercise and a large percentage of folks use no hardware at all,” McCarthy said at the time. “We haven’t done a very good job of communicating that to prospective members and we’re looking to improve upon that. I think the advertising can be more inclusive than it has been historically.”
This fall Peloton announced a series of price adjustments to its products and offerings in select markets. In its latest quarter revenue was flat, while for the full fiscal year the company’s revenue fell 3.6% year over year to $2.7 billion.
via https://www.aiupnow.com
Kaarin Vembar, Khareem Sudlow
