Business

How can Peloton compete in the crowded bodybuilding arena

Peloton has become a household name in times of pandemic. Shares of the home fitness company surged more than 500% on December 23, 2020, rapidly propelling the small startup to supermarket status in less than a year.

But as the economy reopens, gyms and live studios are also attracting people to work out outside of the home.

Competition in the home fitness space has also increased, with companies like Tonal, Hydrow, LululemonMirror of and Apple provide their own fitness equipment to customers. “We’ll continue to see this now as the market space evolves, as more and more companies realize that this is a new industry that needs to be unlocked, the battle for the minds of customers. It’s going to get harder,” Simeon Siegel, managing director at BMO Capital Markets, told CNBC.

In early November 2021, Peloton reports disappointing first quarter results which missed earnings, revenue projections and full-year guidance. It shows slowing demand for its products and an anticipated increase in marketing spending. In the same month, the company lost $10 billion in market capitalization due to a steep drop in stock prices. Its shares dropped another move this week after HBO’s “Sex and the City” Reboots highlighted its cycle in the first episode, connecting the cycle to the death of a character on the show. The company tried to do damage control by releasing a parody video starring actor Chris Noth, but then had to take down the video after sexual misconduct. allegation against the actor.

Watch the video above to learn how Peloton can compete in the crowded fitness arena and what investors should think as the world returns to the new normal.

https://www.cnbc.com/2021/12/17/how-peloton-can-compete-in-the-crowded-fitness-sector-.html How can Peloton compete in the crowded bodybuilding arena

Emma James

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