Peloton
Leaving home, connected fitness companies are following customers back to work.
The latest: Peloton introduced Peloton for Business, a revamped B2B offering streamlining commercial sales.
Expanding its existing corporate wellness program, the fitness brand will target small and mid-size businesses and seek placements in hotels, apartments, schools, healthcare facilities, gyms, and community centers.
Among the new “holistic and individualized solutions” are its unlimited-user Commercial Peloton Bike and the ability to offer Peloton App as an employee benefit, which unlocks preferred equipment pricing and employee engagement tools.
Also announced, Peloton signed a broker deal with HR firm Sequoia, seeing the fitness company added to the “Wellbeing Bundles” program it offers clients.
Between the lines: Riding nine consecutive quarters of losses, and burdened by unsold bikes, the brand is seeking outlets for an inventory glut.
While the company downplayed its smart equipment and shifted focus to its app, Peloton has been adamant that it’s not ditching hardware entirely. Instead, it’s looking to new avenues.
In May, CEO Barry McCarthy said the commercial business was showing “strong momentum” and emphasized its importance going forward. And the wheels are already in motion.
- After extending its hospitality partnership with Hilton in April, Peloton now has 5.8K Bikes across the entire hotel portfolio in the US, UK, Germany, and Canada.
- In July, the brand announced a multi-year partnership with Liverpool FC, outfitting the team’s training facilities while creating theme workout content for fans.
- This August, Peloton inked an immersive equipment and content deal with multiple gyms in the YMCA of Metropolitan Chicago network.
Looking ahead: Peloton reports earnings tomorrow, which may shed more light on the timing of this rollout. But, with commercial-grade product launches from its litigious rival and enterprise sales driving 78% of European manufacturer Technogym’s sales, it’s becoming more clear that equipment brands have to be everywhere exercisers (and would-be customers) are.
