Peloton and Dick's Sporting Goods partner to give audiences access to top fitness products, including Bike+ and Tread, direct to consumers.
Dick's will begin selling Peloton equipment early in the holidays, following a deal to sell their equipment and other fitness accessories on Amazon as announced on Thursday morning, Cision writes.
Peloton's Last Ditch Attempt to Expand Customer Base
Selling exclusively in more than a hundred stores in the United States, Peloton takes Dick's as its third-party retailer, continuing its plans to improve operations after a turbulent year, according to The Verge.
"Peloton is a powerful brand with a very loyal following and a product mix that's compelling for any fitness enthusiast," said Will Swisher, Senior VP of DICK'S Sporting Goods. "Being able to offer Peloton to our athletes - and to provide an in-store experience for them to see and test products - gives us and Peloton extended reach into the fitness market," Cision reports.
"This partnership is a natural fit for our brand and our Member acquisition goals ... Retail remains a critical touchpoint, and we want to provide the in-store experience that many current and prospective Members still covet." Peloton Senior VP Jen Parker said in a press release.
Engadget reports that the partnership between the two is mainly a strategy to accelerate revenue acquisition in the middle of Peleton's in-house retail closing after a sudden drop in sales. This will expand Peloton's coverage of the United States market as part of the next phase of its transformation journey towards growth.
During the pandemic, a surge in demand was visible for Peloton, but a sudden turnaround pushed the company to mass layoffs. Because of this, CEO Barry McCarthy focused on paid subscriber-based bike rentals in partnership with Amazon.
Select Equipment Reaches New Audience
Current and potential customers can now buy Peloton Bikes, Bike+, and Tread and Guide, among other products by ordering online through Dick's website and in-store services.
These products, which include a training system utilizing cameras to track movements, bike shoes, and exercise mats, will specifically be displayed in physical stores throughout America. Connectedly, Dick's employees will be trained to assist customers accordingly.
However, Peloton rowing machines will be left out of the partnership deal with Dick's and will only be available via pre-order, CNBC says in an article.
Dick's shoppers will also be able to avail of delivery or pickup services for the Peloton products that they purchase online in stores. Peloton will, in turn, handle setup if customers order Bike or Tread equipment from Dick's.
In the long run, due to the company's pre-existing conditions, they might have to rely on third-party delivery and setup services as the company plans to lay off members of its distribution team.
There has not been any announcement yet regarding a specific date that Peloton equipment will start appearing in Dick's Sporting Goods stores, but this partnership hopes to continue providing accessible fitness equipment to its patrons.
