Amazon Selling $499 Peloton Knock-Off Bike In Fitness First
Amazon is now selling a vastly cheaper alternative to the popular Peloton smart bike in its first foray into connected fitness products.
The US$499 bike, which doesn’t have a screen like the US$1895 Peloton indoor cycle, was built by fitness start-up Echelon and is exclusively available to Amazon Prime members.
The Prime Bike works with an app which streams fitness and exercise videos for a monthly fee. Users will need to use a phone, laptop or tablet to stream the workout content while using the bike.
It also has a similar design to the more luxurious Peloton bike, while over $1300 cheaper.
“We were built on the idea of attainable fitness for everyone. The Prime Bike was developed in collaboration with Amazon, aiming to create an amazing, connected bike for less than $500 and it’s proven to be a phenomenal match,” Lou Lentine, president and CEO of Echelon Fitness, said in a statement.
It is the first time Amazon has expanded into the connect fitness market, however unsurprising after at-home fitness saw an extraordinary boom during the COVID-19 pandemic.
Walmart also introduced a similar connected bike with Echelon however the retailer is out of stock online.
US-based company Peloton experienced a staggering 172% surge in sales and upped the price of their bike by 15 per cent during the pandemic.
Peloton (PTON) shares also fell by 4 per cent following Amazon’s announcement.