Everything You Need to Know About Peloton’s Rollercoaster 12 Months

Just under two years ago, Peloton was the toast of Wall Street. With consumers trapped at home and unable to visit gyms, demand for its high-tech fitness equipment soared.

Peloton bike

Peloton slashed the price of its bike but the approach bore little fruit.

Michael Loccisano/Getty Images

But this is when its troubles began.

The company wasn’t ready to meet such high demand. Customers started to complain about months-long delivery times, last-minute cancellations, and poor customer service. These complaints went on for months, rolling into 2021.

In the meantime, Peloton purchased fitness manufacturer Precor for $420 million to ramp up production levels and cope with demand. But in the background, the market was becoming crowded with other at-home fitness options and competition was heating up. 

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