A Peloton stationary bike sits on display at one of the fitness company's studios in New York City. While the global pandemic may spur smart bike sales in the near-term, Siegel doesn’t expect that trend to continue. — AFP
Peloton and other home “smart bike” makers are experiencing a sharp increase in sales as a result of the Covid-19 pandemic. The machines, which allow riders to stream live spinning classes or compete with other users in immersive digital environments, are in sudden demand now that much of America can’t get to the gym.
The temporary bump is much-needed in an industry that has long suffered from intractable obstacles: the core product is an expensive one-time purchase, the number of potential consumers are limited, the market is saturated and competitors are seemingly more interested in exchanging lawsuits than broadening their customer bases.
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