- Peloton seen sales surge during the lockdown as consumers that have been unable to access gyms and fitness studios have invested in its $2,000 bike. It ended the most recent quarter with a 94% increase in subscribers.
- But recent reports indicate that its explosive growth may be taking its toll on other parts of the business.
- Dozens of customers have taken to Twitter and Peloton Facebook groups over the past few weeks to complain about delayed and canceled deliveries and poor customer service.
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Peloton is one of the few consumer-focused companies that has not only survived during the coronavirus pandemic, but thrived.
Sales surged 66% in the first three months of the year as consumers, unable to access gyms, flocked online to invest in its $2,000 bike (the company has temporarily halted sales of its $4,000 treadmill until its safe to resume its in-home assembly service).
It ended the most recent quarter with more than 866,100 subscribers that have bought either the bike or the treadmill – a 94% increase from the year before.
But recent reports indicate that this explosive growth may be taking its toll on other parts of the business.
Dozens of customers have taken to Twitter and Peloton Facebook groups over the past few weeks to complain about delayed and canceled deliveries and poor customer service, something that Peloton had prided itself on in the past:
—Mike Cain (@IMsmikeycain) June 6, 2020
—David Sharp (@DavidShar2) June 6, 2020
—Kasey M (@kselak) June 11, 2020
—Chloe. (@ChloeHoughton5) June 11, 2020
—Hesaneh (@Hesaneh2) June 11, 2020
"I 100% am empathetic to the times and the strain on demand that they are experiencing," Marquis said. "However, they are hiding behind recent events as excuses, as opposed to transparency to the real problem, which is probably my biggest issue.
"I'd be a lot more understanding if they were honest, instead of issuing the same canned marketing responses."
