Exercise equipment company Peloton Interactive, Inc. has recently made public an Amazon collaboration expansion that will bring its fitness accessories brand to the UK market.
CNA tells us that the American company will start selling its products on e-commerce giant Amazon.com Inc.'s UK platform. The report adds that the measure was taken to address the brand's problem with slowing demand.
The company has also revealed that its products will be available in Amazon's German store in the coming weeks.
Peloton Expands to the UK
Earlier this month, the fitness company experienced a 16 percent drop following a weak forecast that was even lower than Wall Street had anticipated.
Furthermore, sales were down 23% compared to the same period last year, 2021. Peloton forecasts sales of $700 million to $725 million for the holiday quarter, which runs from November to December.
As per the forecast, Peloton struggled with the pandemic's aftereffects. During the Covid-19 lockdowns, the company's sales skyrocketed. However, there was an oversupply of products after people returned to work and the gym.
Read Also : FTX Might Have Kept in Touch With More than One Million Creditors Involved in the Bankruptcy Case
Following reports, this expansion is part of Peloton's cost-cutting strategy to increase the profitability of its products. Meanwhile, Peloton's decision to stop selling its products through its own e-commerce sites and showrooms is one of the company's most recent strategies for gaining more customers, cutting losses, and improving cash flow.
This announcement follows Peloton's August 2022 launch on Amazon in the United States and its inclusion in the Prime Early Access Sale also in the United States.
More About the Expansion
The Peloton Bike will be available with convenient in-home delivery as part of the Amazon experience, the company announced in a news release. First-time customers will have the choice of either putting the bikes together themselves or selecting an expert assembly option. Customers receive professional assembly and in-home delivery at no additional cost.
"Peloton's collaboration with Amazon increases access to Peloton's connected fitness products and the vast library of thousands of instructor-led fitness and wellness classes," said Manu Seigner, Peloton's General Manager for International.
As stated by the official, the UK and Germany are strategic markets for Peloton because these are locations where the company has already established an active Member community.
Seigner also stated that expanding the company's distribution channels through Amazon could make Peloton more widely available.
"Peloton is such a great addition to the fitness products range available for Amazon customers," said Neil Sentance, Director of EU Sports at Amazon.
Amazon UK Featured Products
Peloton products available at launch on Amazon in the UK will include:
- Peloton Bike: Original Peloton Bike | Indoor Stationary Exercise Bike with Immersive 22" HD Touchscreen.
- Peloton Guide: Strength Training Device with Built-In Camera Technology, Movement Tracker, and Handheld Remote with Voice Activation.
- Select Peloton accessories - additional accessories, including Peloton Cycling Shoes, will be available soon.
