As gyms reopen with new rules after the coronavirus pandemic forced them to shut down for months, Peloton is making a play for new members who would rather work out from home.The at-home fitness company announced on Tuesday that it will reduce the cost of its most popular spin bike by $350 “to make it more accessible to more people,” according to an email from Peloton. The bike will now cost $1,895. Peloton is also offering a premium new Bike+ with added features, such as a rotating touchscreen and four-speaker sound system. A new lower-priced treadmill will also be available for $2,495 early next year, offering an alternative to Peloton’s premium $4,295 product.”As consumers increasingly work out from home amid the pandemic, these new product offerings should help Peloton expand its [market base], particularly as they help reduce the total cost of ownership for consumers,” said a note from AllianceBernstein analysts.Some people expressed doubt on Twitter, with one person noting that Peloton is “proof that even a crazy overpriced idea can make millions if marketed right. Americans love to spend.”#Peloton is proof that even a crazy overpriced idea can make millions if marketed right. Americans love to spend— Angel (@therealAngel21)


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