(NON-SPOILER ALERT: I won’t be talking about the Sex and the City Reboot and any Peloton-related tidbits, even though I used it as a tease to get you to read the story… Sorry…)
Remember how it was impossible to get a Peloton bike in 2020? Well, I wasn’t trying to buy one either, but I did read all about it. The NY Times reported panic-buying trends in May of 2020: toilet paper (obvs), meat, and yes, Peloton bikes. And people were even using them:
[Peloton‘s] 2.6 million paying members worked out an average of 18 times a month, up from 13 in the previous quarter, the company said. Peloton added that it expected its revenue to more than double in the current quarter.
“The demand is through the roof,” John Foley, the chief executive, said in an interview. “It’s not just people wanting more bikes, but if they have one, they’re using it more.”
In a recent Peloton-related story by the NY TImes (do they have a dedicated reporter on the Peloton beat, one wonders?), they note lots of deep discounts on used bikes. I’m almost tempted.
What goes up comes back down again. Now, at the end of 2021, while Pelotons were once hot, now they are definitely not. The Wall Street Journal reported the onset of Peloton fatigue this fall. What’s the problem? Their analysis, replete with facts, figures, tidbits from quarterly reports and interviews with industry players, seems to be this:
People want to exercise outside of their house, preferably with or around other people.
It was bound to happen. As much as many of us love gear, gadgets, wifi-enable everything, and zooming ’round the world with others, sometimes you just want to be in real space, moving around in real time with others. I, for one, have ventured back to my yoga studio in person and also in-person this fall for a weekend yoga retreat (albeit with masks and distancing). It’s felt so good to be in a room with other people.
At the same time, the Omicron variant is making its way to all our hometowns, and we don’t know what that will look like. I’m vaccinated and boosted, and all of my close friends and family are, too, for which I’m very glad. I’m planning on hedging my bets: I’m hanging onto my home exercise gear (and I ride my bike trainer and not a Peloton bike, so I’m good), and also keeping my yoga studio subscription current.
Readers, where are you on this subject these days? Are you looking for a good deal on used equipment, hoping to resume more collective group space exercise? Are you holding tight for now? Have you put your rowing machine on ebay? I’d love to hear what you’re up to.
A couple months ago, when it was warm out and I was alternating between running, outdoor workouts and starting to venture into the gym, I was thinking about selling my one year old Bowflex C6. I was using it about once a week. And it sits in the middle of my living room. Besides knowing I would get a lot less for it than I spent a year ago, I still felt I would be using it in the winter so I held off. Now, with Omicron keeping me out of the gym again and the sidewalks icy on occasion, I’m glad I didn’t sell it. Been using it a lot and can see it coming in handy over the next couple months.