‘Sex and the City’ Reboot Is Not the Only Problem for Peloton – Yahoo News

December 17, 2021 by No Comments

The biggest problem for Peloton’s cameo in the reboot of “Sex and the City” may not be the moment when Mr. Big drops dead of a heart attack after a 45-minute ride, a plot twist so startling and damaging to the brand that Peloton’s stock plummeted 11% overnight after the pilot episode premiered.

Rather, it is the scene in Episode 2 of “And Just Like That,” when Carrie is at home getting ready for Big’s funeral. The Peloton bike sits awkwardly in the passageway between the primary bathroom and dressing area, unused and already collecting dust.

The pandemic status symbol, which customers once waited two months to get their hands on, may soon become the modern equivalent of the 1990s NordicTrack: a high-priced piece of exercise equipment that becomes a glorified clothing rack, cluttering up a home until it is sold or dispatched to the curb.

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Signs of its cultural downfall are hard to ignore. Sales of Peloton’s stationary bikes and treadmills fell 17% year over year in the third quarter of 2021, and the online resale market is flooded with used bikes selling at a discount.

Peloton’s appearance as an ill-fated plot device certainly doesn’t help. This past weekend, one seller posted an Instagram story showing his bike being carted off with the good-riddance caption, “And Just Like That …”

Like thousands of professionals during the early days of the pandemic, Laura and Charlie Weisman, a couple who live in New York, bought a Peloton when their gym, Chelsea Piers Fitness, closed during the lockdowns.

“We needed an outlet to work out,” said Laura Weisman, 31, a new business executive at a digital marketing agency. She paid $1,895 for the original model, plus $250 for the accessories package (shoes, weights, earbuds, heart rate monitor) and $39 for monthly access to online classes. She recalled a conversation with her father, who told her the bike would gather dust a year from now. “I said, ‘No way, this is the coolest thing. It will last forever.’ ”

But sure enough, “as soon as we were vaccinated” and the gyms reopened, she said, the couple stopped using their Peloton. “It doesn’t feel like it’s necessary anymore,” Weisman added.

Two weeks ago, the Weismans posted it on Facebook Marketplace, initially asking $1,350 for the bike, plus the Peloton-branded accessories. When no one bit, they lowered the price to $1,200; it sold last weekend to a woman who bought it for her teenage daughter.

While a quick sale may suggest that Pelotons are holding their value, it is worth noting that many were bought at the height of the pandemic, before the company slashed its prices. The base model, which originally retailed for $2,295, now sells for $1,495. (The Bike+, which was introduced in 2020 and has a screen that swivels and can be used for yoga and strength training, sells for $2,495.)

Now, those base models are being resold on sites like Craigslist, Facebook Marketplace and eBay, with some selling below $1,000, according to recent searches.

“We recently downsized our apartment and the Peloton no longer fits,” reads one typical ad on Craigslist in New York. The seller is asking $800 for a Peloton bike and two pairs of cycling shoes. “Has probably been ridden 10 times.”

Kisha Anderer, 42, a stay-at-home mother in New York, hopes to …….

Source: https://news.yahoo.com/sex-city-reboot-not-only-131319933.html

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