Peloton Launches Bike and Bike+ Rental Program in Canada
Grace Mahas — April 25, 2023 — Lifestyle
References: onepeloton & onepeloton
Peloton, the popular connected fitness company, is expanding its Peloton Rental program to Canada. This program allows Canadians in select provinces to rent the Peloton Bike and Peloton Bike+ on a month-to-month basis, without long-term commitment.
The rental program starts at $129 CAD/month for the original Peloton Bike and $169 CAD/month for the Peloton Bike+. It's available to Canadians in all regions where Peloton currently delivers. The rental fee includes a Peloton Membership, granting access to their extensive library of live and on-demand classes across 14 fitness modalities.
Daegan Benison, General Manager of Peloton Rental, highlighted the program's success in the US, with 60% of renters saying they wouldn't have joined Peloton without this flexible offering. Expansion into the Canadian market was a logical next step in growing the rental program and increasing brand accessibility.
Current rental pricing includes a $250 one-time setup fee, with the Peloton Bike and All Access Membership at $129 CAD/month, and the Peloton Bike+ and All Access Membership at $169 CAD/month. Renters can opt to buy out their hardware or end their rental at any time, with Peloton offering free pickup for the Bike or Bike+ during the process, ensuring ultimate flexibility.
Image Credit: Peloton
The rental program starts at $129 CAD/month for the original Peloton Bike and $169 CAD/month for the Peloton Bike+. It's available to Canadians in all regions where Peloton currently delivers. The rental fee includes a Peloton Membership, granting access to their extensive library of live and on-demand classes across 14 fitness modalities.
Daegan Benison, General Manager of Peloton Rental, highlighted the program's success in the US, with 60% of renters saying they wouldn't have joined Peloton without this flexible offering. Expansion into the Canadian market was a logical next step in growing the rental program and increasing brand accessibility.
Current rental pricing includes a $250 one-time setup fee, with the Peloton Bike and All Access Membership at $129 CAD/month, and the Peloton Bike+ and All Access Membership at $169 CAD/month. Renters can opt to buy out their hardware or end their rental at any time, with Peloton offering free pickup for the Bike or Bike+ during the process, ensuring ultimate flexibility.
Image Credit: Peloton
Trend Themes
1. Fitness Equipment Rental - Expanding rental programs for connected fitness equipment provides a flexible and accessible option for consumers who may not be able to commit to long-term ownership.
2. Subscription-based Services - Offering a membership with the rental program grants users access to a wide range of fitness modalities, highlighting the value in subscription-based services.
3. Brand Accessibility - Growing rental programs provides an opportunity for brands to increase accessibility to their products and potentially expand their customer base.
Industry Implications
1. Fitness Equipment Manufacturing - Manufacturers of connected fitness equipment can expand their market reach and revenue streams by developing affordable rental programs.
2. Subscription Services - Subscription-based companies can look to expand their offerings by partnering or developing rental programs to provide their customers with greater options.
3. Logistics and Delivery - The success of rental programs relies heavily on the ability to deliver and pick up equipment efficiently, presenting opportunities for logistics and delivery companies to develop specialized services.
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