Fitness equipment maker Peloton‘s CEO Peter Stern has said the company is exploring ways to expand its customer base by making its products available for use in gyms and launching a peer-to-peer marketplace for used equipment.
Speaking at Bloomberg Tech Summit on Thursday, Stern said Peloton plans to distribute its machines to commercial gyms via its subsidiary Precor, a gym equipment supplier, and is working to add Peloton workouts to compatible Precor equipment.
The company this week also set out to grab a share of the market for used Peloton equipment, launching a peer-to-peer marketplace called Repowered. “Historically, [secondhand sales have] taken place, for example, on Facebook marketplace, and that’s absolutely fine for people who want to do that, but it means that you need to transact with a stranger on both ends, and potentially have that stranger come into your home. What we’re trying to do is streamline that and deliver a more premium experience for those secondhand customers,” he said.
Stern said the company aims to use AI to improve personalization for its members. “I want to find ways to scale coaching by creating individualized programs for each of our members so that they can get the right class from the right instructor that’s personalized for them,” he said.
