- Peloton is trying to turn the corner with a new offer for its connected fitness bikes. The New York-based fitness giant has begun selling refurbished bikes at discounts up to $500 lower than the asking price of its newly manufactured models. Peloton is taking steps to alleviate the losses with a deal with the Hilton hotel chain. As part of the pact, Hilton will feature at least one Peloton bike in all 5,400 of its brand hotels in the U.S. The deal makes Hilton the first hospitality brand to feature Peloton bikes across its portfolio.
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Through the Peloton Certified Refurbished program, you can buy a refurbished Peloton bike for $1,145, or a refurbished Peloton Bike+ for $1,995. Both of these include shipping & delivery. Currently, the program is only available in the continental US & Canada. According to a new FAQ about the program, there is not “any plans to offer Peloton Certified Refurbished Peloton Bikes/Bike+ in other markets.”
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However, Peloton offers refurbished Peloton Bikes through eBay in other markets – starting with Germany, and expanding to the UK recently. Members can purchase refurbished bikes either online or via showrooms. Subscriptions to Peloton’s fitness offerings are not included with refurbished bike sales.
Why it matters
The move follows multiple rounds of job cuts and shares of the company plummeting nearly 80% in the last year, including seven consecutive days of losses through Dec. 23. In October, Peloton announced 500 layoffs, it's fourth round of job cuts in 2022.
