Furious Peloton customers cancel their orders and switch to rival companies after deliveries of $2,000 bikes are delayed for MONTHS ‘due to high demand’
- Demand for Peleton bicycles and treadmills has boomed amid the COVID-19 pandemic, as many Americans adjust to exercising at home
- Customers have been paying upwards of $4,500 for the upmarket exercise equipment
- However, dozens of buyers are now cancelling their orders as wait times blow out by months
- They are instead eyeing rival brands including Nordictrak and Variis, which are reportedly shipping their products with more expedience
- The delays have done little to dampen Peloton’s stock price, and the company’s 2020 revenue is projected at more than $1.8 billion
Peloton customers are canceling their orders and defecting to rival brands because of month-long delays in the delivery of the upmarket exercise equipment.
The company’s $2,000 stationary bike has become wildly popular amid the coronavirus pandemic, as gym closures have forced many Americans to start working out at home.
Dozens of people who have purchased the pricey Peloton bikes have now taken to social media claiming they are waiting months for the pricey items to arrive.
One irate customer posted to Twitter on Monday: ‘I was so looking forward to being a new peloton plus client but after your horrendous delivery delays and telling me 12 hrs before I took off of work that you were rescheduling another 8 weeks out into January I canceled everything. Just horrible.’
Peloton customers are cancelling their orders and defecting to rival brands because of month-long delays in the delivery of their upmarket exercise equipment. Pictured: a man exercising on his pricey Peloton bike at home during the coronavirus lockdown
In recent days, irate customers have flooded the Peloton Twitter page to complain about wait times. Some have cancelled their orders
On Sunday, another angry consumer wrote: ‘We were supposed to get our bike on Oct 27 & it was then rescheduled to Nov 22 (today). We were given a window and prep information via email in text. In the middle of the arrival window we were told that the new arrival date would be January14. We need some help.’
A spokesperson for the company replied: ‘We are very sorry for this delay. We invite you to enjoy complimentary access to the Peloton App which offers classes like yoga, stretching, meditation and outdoor walks/runs.’
However, it’s not only the popular bikes that are being delayed.
One woman told The Wall Street Journal on Monday that she ordered a $4,565 Peloton treadmill in early August, before cancelling the order seven weeks later following a series of delays.
‘We’d probably still be waiting today,’ the furious customer claimed.
The company’s most famous product is a $2,000 stationary bike that has become wildly popular amid the coronavirus pandemic, as gym closures have forced many Americans to start working out at home
Peloton told The Wall Street Journal that the delays ‘are primarily due to shipping logjams, particularly at ports as the bikes are transported to the U.S. from manufacturers overseas’.
A spokeswoman stated: ‘The wait times right now are not how we want people to experience Peloton’.
Peleton bosses stated in a recent letter to shareholders that they were ‘doing everything we can to get our products to our prospective Members as quickly as possible’.
Customers are now purchasing from Pelton’s rivals, including Nordictrack, Nautilus and Variis for SoulCycle.
The Wall Street Journal interviewee who canceled the order for her expensive Peloton treadmill subsequently bought one from Nordictrack, which arrived earlier than expected.
Nordictrack also offers popular bikes at a lower price point that Peloton.
Nautilus bikes are also a considerably cheaper option than Peloton products, with stationary bikes starting at $699.
Meanwhile, the starting price of a Peloton bike has been dropped below $2,000 to $1,895.
The delays have done little to affect Peloton’s popularity and its stock price
Earlier this year, Variis for SoulCycle was launched, as a another direct competitor to Peloton.
Customers generally have to purchase a $2500 bike before tuning into the subscription SoulCycle classes from the comfort of their own home.
While there are a plethora of other options for customers, the delays have done little to affect Peloton’s popularity and its stock price.
The company has reportedly brought in revenue upwards of $1.8 billion this year, and the company’s daily stock price climbed above $100 in September.
As of Tuesday, the company’s stock price stands at $106.