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Peloton, an American home fitness company, announced that it will launch a treadmill that costs under $3,000 in early 2021.
Called Tread, the new treadmill will cost only $2,495. It will be smaller and have a simpler belt compared to Peloton’s previous model. The new model will come with a modified tablet screen with built-in speakers. The adjustable tablet can be used for workout activities that do not require a treadmill. It will also give users access to Peloton’s variety of miscellaneous workout video classes.
Peloton’s previous $4,295 Tread model will now be called Tread+.
Aside from launching the new treadmill, Peloton will also reportedly release a new exercise bike called Bike+. This new model will cost the same as Tread. Bike+ will also have a similar screen tablet, and it can be linked to smartwatches to help users monitor fitness statistics like the duration of their workout and the number of calories they burned. With the release of Bike+, Peloton will be slashing the price of its old workout Bike from $2,245 to under $1,900.
The lockdowns caused by Covid-19 prevented people from going to the gym, resulting in many fitness centers filing for bankruptcy or closing down for good. This brought about a sharp surge in the demand for Peloton’s products, as some consumers resorted to purchasing their own equipment to continue their workouts.
However, the company has been unable to keep up with this increase, and some customers have had to wait for months just to receive their orders. This has resulted in several complaints and bad reviews from displeased customers.