Peloton Interactive, Inc. launched 'Peloton Repowered,' its own proprietary peer-to-peer marketplace for reselling used equipment and gear. The platform allows members to list their used Peloton equipment and set a price with the assistance of a generative AI tool, though sellers retain final control over the listing price. This initiative aims to streamline the secondhand sales process and broaden accessibility to Peloton products.
Sellers on Repowered will receive 70% of the sale price and a discount on new Peloton workout equipment, ranging from $200 to $600 depending on the new purchase. Buyers will benefit from a reduced activation fee of $45 for used products, down from the typical $95. The marketplace initially launched in beta in New York City, Boston, and Washington, D.C., with plans for national expansion in the coming months.
CEO Peter Stern emphasized that Peloton is not for sale and reaffirmed his commitment to reviving the company and keeping it a standalone entity. He outlined a strategic vision to evolve Peloton into a more personalized coach powered by AI, aiming to create individualized programs for members. This includes expanding reach through retail, international markets, and travel, with a stronger presence in hotel gyms via its Precor subsidiary.
The company plans to distribute its machines to commercial gyms through Precor and integrate Peloton workouts into compatible Precor equipment. Stern highlighted that the secondhand market is one of the largest ways to acquire new members, and Repowered aims to provide a more premium experience for these customers. The platform will first enable sellers to list inventory, with buyer access following once sufficient listings are available.
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