Peloton Interactive, Inc. announced the national expansion of its 'Repowered' marketplace for reselling used bikes and treadmills. This follows a pilot program in New York City, Boston, and Washington, D.C., which yielded approximately three dozen sales and saw around 400 equipment listings created in two months. The national rollout allows sellers across the country to list their equipment immediately, with buyers gaining access next month.
The Repowered marketplace is a peer-to-peer platform where sellers receive 70% of the proceeds from a sale, with the remainder divided between Peloton and its technology platform provider, Archive. CEO Peter Stern previously stated that the platform is critical to the company's turnaround plans, as the secondhand market represents a significant channel for acquiring new members.
Peloton noted that the pilot program's results were encouraging, indicating that consumers are actively seeking a trusted environment to purchase second-hand equipment. The expansion aims to capitalize on underutilized Peloton bikes and treadmills in homes, offering a streamlined and premium experience for secondhand customers.
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