American Interactive Fitness Platform Peloton Enters Australia
Peloton, one of the most renowned interactive fitness platforms based in the U.S. announced its launch in Australia. The exercise equipment and media company will offer Australian consumers a studio-style workout opportunity in the comfort of their homes. Peloton’s forte lies in its range of cutting-edge fitness equipment which includes the Peloton treadmill and Peloton bike.
Evolving Fitness Landscape
Data released by Mindata revealed a noteworthy spike in the number of consumers opting for virtual workouts due to the COVID-19 pandemic. Nearly 73% of consumers are now using pre-recorded videos (versus 17% in 2019) and around 85% of them are attending live stream classes (versus 7% in 2019). [1]
This data offers a clear idea about the evolving mindset of the consumers during the ongoing pandemic. Capitalizing on this trend, Peloton’s expansion plans come at a time where consumers are not shying away from purchasing home fitness products and equipment.
Peloton’s debut in Australia
With a consumer base of over 4.4 million around the world, Peloton has set its eyes on entering the Australian market in 2021. Peloton will foray into the Australian landscape in the second half of 2021 by releasing Peloton Bike+ and the original Peloton Bike.
The Peloton Bike will be priced at $ 2,895 and the Peloton Bike+ will cost around $ 3,695. Consumers will have to shell out approximately $59 per month to gain complete access to Peloton’s content on its app.
Both the products offer strength and cardio training programs that can be linked to the Peloton application. The app offers content for more than 10 fitness programs such as cardio, yoga, running (outdoor and indoor), strength, and more.
Peloton’s debut in Australia will also mean that Australian consumers can access hundreds of workouts that can be performed listening to playlists from stellar artists including Beyonce and the Beatles to name a few.
Peloton has also revealed that it will soon open interactive showrooms in Melbourne and Sydney. Customers can try the products offered by Peloton in these stores before purchasing them. Besides, these retail spaces will also present consumers an opportunity to gain first-hand experience of Peloton and the live studio experience.
Kevin Cornils, Managing Director, International for Peloton said that fitness, sport, and health are a core part of Australia’s DNA which is why expanding into Australia was a natural decision. He further said that “We cannot wait to share more details in the coming months about how Australians can experience what has become a global fitness phenomenon.”
Source:
[1] Cording. J (2020) “How COVID-19 Is Transforming The Fitness Industry” Forbes [Online] Available from:
https://www.forbes.com/sites/jesscording/2020/07/13/covid-19-transforming-fitness-industry/?sh=25124ee130a7 [accessed March 2021]
