Peloton became an “in thing” among the “in crowd” with a real boost from social media during the first year of Covid. Like a lot of these trendy deals, it makes little sense from an economic point of view and the bubble deflated when the in crowd moves on to the next thing.
It makes for a nice thing to hang your clothes on.
Folks are heading back to the gym.
A few months ago, I drove wife to a doctor appointment in an rather upscale part of Houston. Noticed there was a “bike store” on the street level of the building. It was a gym that just had spin classes.
I asked about the membership prices. Was told they don’t sell memberships; just a fee per class. One session of 50 minutes is $32. They are apparently doing REALLY well. At least they know their target market.