Health tools maker Peloton‘s CEO Peter Stern has mentioned the corporate is exploring methods to develop its buyer base by making its merchandise accessible to be used in gyms, and launching a peer-to-peer market for used tools.
Talking at Bloomberg Tech Summit on Thursday, Stern mentioned Peloton plans to distribute its machines to industrial gyms by way of its subsidiary Precor, a health club tools provider, and is working so as to add Peloton exercises to appropriate Precor tools.
The corporate this week additionally got down to seize a share of the marketplace for used Peloton tools, launching a peer-to-peer market referred to as Repowered. “Traditionally, [second-hand sales have] taken place, for instance, on Fb market, and that’s completely wonderful for individuals who wish to do this, but it surely implies that it is advisable to transact with a stranger on each ends, and doubtlessly have that stranger come into your private home. What we’re attempting to do is streamline that and ship a extra premium expertise for these second-hand clients,” he mentioned.
Stern mentioned the corporate goals to make use of AI to enhance personalization for its members. “I wish to discover methods to scale teaching by creating individualized packages for every of our members in order that they’ll get the appropriate class from the appropriate teacher that’s customized for them,” he mentioned.
