Passing along the 13th volume of our work on fitness with more of a focus on PTON / at home fitness in the past few volumes. Please let us know if you have any questions about the report.
Open Report:Bespoke – Fitness Vol 13
Key Takeaways and Key Charts:
- Peloton already possesses a good deal of band equity. It is one of the most mentioned fitness products/services that people desire to sign up for / buy and they are by far the first brand that comes to mind when people think of at-home fitness.
- Peloton has a significant mindshare edge over competitors and is viewed more positively as a fitness brand than competitors.
- 34.7% of respondents with gym memberships said they would consider dropping their membership to use only in-home exercise equipment.
- Respondents heavily associate Peloton with the word “expensive.” By comparison, when respondents first think of SoulCycle they think of things like “Fun” or “hard.” The top reason why non-owners don’t have a peloton is cost, and the majority of non-owners do not view the bike as “affordable” for $58 per month.
- The percentage of non-customers who expect to get a Peloton in the next year has remained consistent over time (meanwhile, the pie of consumers who are aware of Peloton has been expanding).
- Awareness of Peloton has increased considerably in the UK. But as awareness has increased, interest IN GETTING ONE, among those who are aware, has DECLINED.