After pulling back from marketing due to the success of its bikes during the COVID-related climb of at-home fitness, Peloton is planning to return to advertising. Executives discussed the strategy on an earnings call with analysts today.
“We’re going to get back to going aggressive in marketing,” said William Lynch, Peloton’s president, on the call. “We’ve had amazing organic growth and we want to further fuel that growth.” He notes that the plan is to have a “substantial increase” in marketing for the coming third and fourth quarters.
Peloton plans to tell the marketing story of its new stationary Bike+ product, which has more features than its now lower-price original bike, as well as its Tread treadmill product, executives said. Marketing will promote such new products as well as growth in new geographies where brand awareness is low.
The company, which now has a partnership with Beyoncé, also recently purchased Precor, a fitness manufacturer, to increase production.