Peloton launching cheaper treadmill priced at $2,495
Peloton's new Tread, out this May, will cost $1,800 less than its Tread+
Peloton is leveling up with a more affordable version of its treadmill — but it still costs over $2,000.
The home fitness equipment is billing its new treadmill, simply called "Tread," as a more accessibly priced option when compared to its Tread+. At $2,495, the Tread costs $1,800 less than the Tread+, which is currently priced at $4,295.
PELOTON PEDDLES TO RECORD $1 BILLION IN QUARTERLY REVENUE AS PAID DIGITAL SUBSCRIPTIONS GROW 472%.
The new Tread, which goes on sale in the U.S. on May 27, is slightly smaller than most couches, Peloton says, with 59 inches of running space (down from 67 inches compared to the Tread+) and also features a slightly smaller screen and weighs less. The Tread is already available in the U.K. and Canada.
|PTON||PELOTON INTERACTIVE INC.||8.31||+0.09||+1.09%|
Peloton, which has locked in partnerships with the likes of Beyonce and Shonda Rhimes in recent months to produce streaming content, had announced plans for its more accessibly-priced treadmill in September. Around the same time, the brand debuted its Bike+, marketed as a premium offering, for $2,495. and lowered the cost of its spin bike to $1,895.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The connected fitness equipment company continues to gain momentum. Peloton saw sales surge to $1.06 billion in its second quarter, up from $466 million at the same time last year, exceeding analysts projected $1.04 billion, according to Dow Jones.
However, increased demand for Peloton’s bikes and treadmills has had some customers complaining over shipping delays for its products, with some waiting up to 10 weeks as demand continues to surge during the pandemic.