COVID-19 Report

Is Peloton a pandemic fad or a sustainable fitness platform?

Friday, August 7, 2020 • 1:00 PM EST

Key Takeaways:

1. Data suggests that Peloton’s popularity is not just a pandemic fad: only 18% of Peloton buyers said the pandemic was the main reason for purchase and 50% said they decided to purchase a Peloton pre-COVID.
2. Peloton might be bringing new people into mainstream fitness, as 19% of buyers were not spending any money on fitness and 17% did not have a gym membership or attend group fitness classes pre-COVID.
3. People love their Pelotons: 83% report high satisfaction with their purchase and majority of purchasers note an increase in motivation, frequency, and intensity related to working out.
4. Of the purchasers that had gym memberships prior to COVID, only 40% plan to rejoin their gym. But it is not all doom & gloom, as 58% of buyers who attended group fitness classes pre-COVID plan to return and 52% plan to spend on fitness on top of their ongoing Peloton expenses.


Our previous report on Peloton, the at-home spin bike with app-based classes, talked about the strong growth the brand was experiencing during the COVID-19 pandemic. For this report, we dug deeper to understand whether this is a pandemic fad or a sustainable fitness trend by surveying people who bought Pelotons during the pandemic. 

Purchase Frequency By Month

Airlines
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Lodging

Data via Cardify

A pandemic purchase? It’s easy to assume gym and fitness centre closures drove buyers to Peloton, however only 18% of purchasers said the pandemic was their main purchase driver. On the other side, 50% of buyers said they decided to purchase a Peloton pre-COVID and 32% said the pandemic pushed them to buy, but was not a main driver.

GMV Trend - Weekly

Airlines
Car Rentals
Lodging

Data via Cardify

From the gym to Peloton? The majority of buyers were active individuals pre-pandemic with 75% working out 1-5+ times per week, 64% having a gym membership, and 78% attending group fitness classes pre-purchase.

YoY Growth (monthly)

Airlines
Car Rentals
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Data via Cardify






• 64% of purchasers had a gym membership prior to COVID

• 78% of purchasers attended group fitness classes prior to COVID

• 17% of purchasers did neither of the above prior to COVID



Interestingly, 19% of buyers were not spending any money on fitness and 17% did not have a gym membership or attend group fitness classes pre-COVID, suggesting Peloton is bringing net new consumers into mainstream fitness.

Post-pandemic Peloton plans? The majority of Peloton buyers (83%) report high satisfaction with their purchase, with 80% saying they now workout more frequently, 78% saying it increased their motivation, and 67% saying it increased workout intensity. It’s just as well, too: 87% have concerns about contracting COVID from gyms or fitness studios.

Purchase Frequency By Month

Airlines
Car Rentals
Lodging

Data via Cardify

AVG Basket Trend - weekly

Airlines
Car Rentals
Lodging

Data via Cardify

Given these statistics, it’s easy to believe the majority (60%) of people who had gym memberships prior to COVID said they would not return to the gym. Further, 97% of Peloton owners said they will focus on Peloton workouts going forward, whether exclusively or in combination with other activities.

Purchase Frequency By Month

Airlines
Car Rentals
Lodging

Data via Cardify

All is not lost for the fitness industry, though, as 58% of Peloton buyers who attended group fitness classes prior to COVID plan to re-attend these classes post-pandemic. Further, 84% said they want a mix of cardio and strength workouts, suggesting group fitness studios have an opportunity to compete if they offer strength-focused classes.

YoY Growth (monthly)

Airlines
Car Rentals
Lodging

Data via Cardify






• 40% of purchasers who plan to re-join gyms post pandemic

• 58% of purchasers who plan to re-attend group fitness classes post pandemic



Behind the scenes, 81% of buyers report sharing the bike with at least one other person, lowering the cost on a per person basis. Since 47% of buyers spent over $75 per month on fitness pre-COVID and 52% intend to spend on fitness in addition to ongoing Peloton expenses post-COVID, gyms and fitness studios may still have a decent market opportunity among Peloton owners when the pandemic ends.

Purchase Frequency By Month

Airlines
Car Rentals
Lodging

Data via Cardify

When Peloton purchases surged at the start of the pandemic, a lot of people assumed there was a tight correlation. However, the pandemic appears to be an accelerant, but not the main driver, of the purchase surge. While a significant portion of previous gym goers aren't returning to their gym memberships, group fitness classes appear to be stickier, especially as people look for variety in their workouts. Either way, the pandemic has proven a boon for Peloton that doesn’t look like it’s going away any time soon.