Inflation and supply chain issues have caused Peloton to raise the price of its flagship bike, barely five months after it was significantly reduced to encourage declining sales.
Customers will have to pay $250 for shipping and setup of Peloton’s $1,495 bike starting January 31 – a service that was previously included in the price.
Starting later this month, customers purchasing Peloton’s Tread treadmills will be charged a $350 delivery and installation fee.
The bike’s price in the United States will rise to $1,745 due to these fees, while the Peloton Tread will shortly cost $2,845. Peloton also announced that the base price of both pieces of equipment would increase for clients in the United Kingdom, Germany, and Australia; however, delivery and setup will remain free.
Peloton said in a statement that “continued constraints are driving up costs,” a complaint echoed by companies across several industries. “Like many other businesses, Peloton is being impacted by global economic and supply chain challenges that are affecting the majority, if not all, businesses worldwide,” it said. “Even with these increases, we believe we still offer the best value in connected fitness and offer consumers various financing options that make Peloton accessible to a wide audience.”
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