Oh, Peloton…

I remember sitting in my Issues in Corporate Comm class in the spring of 2021 waiting for class to end and hearing my professor talk about companies that had been hit lately. As it happened, Peloton was on the list… and it wasn’t because of advertising. They were sold out and on backorder everywhere! People were getting angry and the company just couldn't keep up supply with demand.

Nowadays, the problem seems to have become entirely inverted. Peloton appears to be dying as a company. Some of it is attributed to the lack of demand now that COVID-19 mandates are lifting and therefore people are more likely to return to their previous habits. A lot of it can be attributed to some missteps in advertising opportunities this past year.

Let’s dive right in.

If you were a company that had been given an opportunity to have your product be showcased in a popular tv show, you’d take it without another thought! Wrong! As Peleton learned last year, always read the fine print. The popular show Sex in the City showed the character, Mr. Big, climbing onto the bike for a quick workout and as result, experiencing a life-ending heart attack. The association between the fictional character’s heart attack and the very real product caused extreme backlash and worry amongst customers. Interestingly enough, it also caused Peloton’s stock to crash as well!

In response, Peloton put out an ad within three short days with Mr. Big saying, “Should we take another ride? Life’s too short not to,” Big says, as the camera pans out to two Peloton bikes. A voiceover by Ryan Reynolds then relays the benefits of cycling, such as improving heart, lungs, and circulation, and reducing the risk of cardiovascular diseases. “He’s alive,” Reynolds says at the end” (CNN).

They also have their own Dr. Suzanne Stienbaum, a member of Peloton’s health and wellness advisory council and a preventative cardiologist release a statement to the LA Times; “SATC fans, like me, are saddened by the news that Mr. Big dies of a heart attack,”... “Mr. Big lived what many would call an extravagant lifestyle — including cocktails, cigars, and big steaks — and was at serious risk as he had a previous cardiac event in Season 6.”

As much as Peloton had the right idea with the AD and statements, the internet already had taken to memes and thus decontructing the brand image.

All of this to say, people are still breaking up with their at-home exercise equipment. “The resale marketplace OfferUp said the number of people seeking to sell their Peloton machines has jumped since April. It’s seen a 77% increase in Peloton sellers versus a 25% increase in people looking to buy a Peloton fitness machine in that same period on OfferUp. Mercari, another resale marketplace, said it’s seen a 1,336% surge year-over-year surge from January to December in sale listings of Peloton-branded items, including the exercise machines and related gear such as its branded cycling shoes.” (CNN).

It was nice while it lasted Peloton… maybe try changing your market to be at gyms, resorts, and live-in facilities? Your market strategy is going to have to change before your advertising does.