Peloton is set to announce a new partnership with Costco, where their stationary bikes will be sold at a discounted price in 300 U.S. stores and on the website. This collaboration comes during a state of transition for Peloton, as they shift their focus to profitability and look for ways to attract new customers. The deal with Costco is aimed at reaching younger and affluent customers, as Costco’s membership base continues to grow and includes a significant number of high-income households. Peloton sees Costco as a way to reach an audience that aligns with their premium products and fits a clear need for home workout equipment. Peloton has also been expanding its partnerships with other companies, such as Hyatt Hotels and Truemed, to continue reaching similar customer bases. Costco’s strong fan following and affluent customer base make it an attractive partner for Peloton as they aim to increase sales and profitability. The partnership is only for a limited time due to the seasonal nature of fitness equipment sales, but Peloton hopes to continue building on the relationship and potentially expand to future locations in the U.S. and abroad.
Photo credit
www.nbcnews.com
Costco teams up with Peloton to offer Bike+ in bid to attract affluent millennials
