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As though Peloton didn’t have enough troubles at the moment, upscale-fitness rivals at SoulCycle just announced a head-spinning offer: Give us your neglected Peloton bike and we’ll credit you for a bunch of classes at one of our studios.
Dubbed Souls Reunited, the offer (worth roughly $1,300) isn’t just an audacious grab for customers, it’s a not-so-subtle reminder of how disillusioned many consumers of the once mighty Peloton Interactive have become.
Back in the pandemic’s scary days of 2020, Pelton rode a wave of unprecedented demand as millions of Americans—quarantined at home or simply unwilling to brave the germs of the gym—rushed to buy the $2,245 bike.
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