The American exercise equipment and media company based in New York City, Peloton Interactive Inc., might just have started the downhill route. There is mounting evidence that consumers are desperate to get back to the gym.
Peloton’s main products are Internet-connected stationary bicycles and treadmills that enable monthly subscribers to remotely participate in classes via streaming media. Peloton charges a US$39 monthly membership fee to access classes and additional features on their exercise equipment, or $12.99 for users only accessing the content via app or website.
However, the past two years of exercising in the kitchen have reshaped the fitness industry. While Peloton must appeal to customers who want to feel the burn in real life again, gyms and other operators must adapt to a world where home-working and home working-out remain prevalent.
Weekly U.S. gym visits recovered from September onwards, rising above 2019 levels from the end November through Christmas, according to Placer.ai, a foot-traffic analysis company. Planet Fitness Inc. said in November that it had 15 million members, almost back to its pre-pandemic peak of 15.5 million. These trends are significant because people tend to visit fitness centres less toward the end of the year, before getting motivated again in January.
