Expanding the ecosystem for Peloton
This brand took the world by storm, noting peak growth during the Covid 19 pandemic. With traditional fitness avenues opening up again where does the future of this breakout fitness company lie?
Role
Strategic Positioning
Brand and Business Analysis
Competitive Audit
Strategic Activations
Client
Peloton/ MPS Branding
Year
2021
Insight
The public perception of the Peloton brand revolves heavily around their bike and exercise equipment, however, the true differentiation of the brand goes beyond the hardware. The services and experiences of the brand are Peloton’s strongest equity, championed by its network of star instructors who welcome and entertain users. Not only is Peloton competing with other fitness equipment companies, and gyms, but they’re also competing against other media companies that are fighting for consumer attention and time.
Challenge
Peloton’s popularity peaked during the pandemic because of its unique proposition of at-home fitness aided by a community of virtual instructors . But in 2021, uncertainty around the pandemic and a desire to return to social spaces affected Peloton’s growth and its stock price fluctuated greatly. Scandals and data breaches added to the pressure caused by maintenance and supply chain issues. We were tasked with creating a strategy that could reinvigorate the business to ensure cultural relevance into the future.
Strategy
Through an examination of perceptions in the media, recent business performance, cultural shifts, and Peloton’s response to challenges, we crafted a strategy that highlights the company’s strengths and internal investments to align itself with the future. We proposed that Peloton reposition itself as a Holistic Entertainment Ecosystem, providing a heightened experience to loyal customers and attracting new audiences.
Peloton sits at the cusp of gamified fitness and healthcare entertainment using its strongest accrued asset- Its virtual community of instructors and their followers.
ACTIVATIONS
The Peloton Kitchen
A nutrition and cooking channel hosted by the users’ favorite Peloton instructors, embedded within the existing app. Adding this feature to the company’s current divisions of Running and Biking allows the company to expand more deeply within the health and fitness space. The consumers are currently interested in the instructors’ lives and the instructors are enthusiastic about nutrition and cooking. These segments will be filmed at the studio owned by the company in New York, which can doubled up as a place for exclusive in-person events.
Docuseries
Peloton could highlight its legacy and vision in its tenth year by launching an 8 episode docuseries in 2022. Focusing on the highly admired instructors’ lives with behind-the-scenes footage to amplify the functioning and energy of the brand. Docuseries have grown in popularity and this format of storytelling is a great way to allow potential users to discover the brand and for the company to navigate its own narrative.
Gamified Fitness with VR
Personalized and interactive gaming through exciting VR landscapes can heighten the experience through hybrid indoor-outdoor workouts. With the power of better user data, analyzed to develop content that is inherently Peloton, this company can own new equity in a new dimension. Each new game launch creates buzz for the brand with the potential of expanding into VR Rooms at Peloton studios for group workouts and VR challenges. With an interest to expand to new global locations, the traveling VR bus will allow the company to gather data and access new audiences.
