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Peloton's disastrous month doesn't mean the future of at-home fitness is dead, analysts say

Added 01-26-22 10:14:02am EST - “Home fitness equipment sales, excluding Peloton bikes and treadmills, amounted to $3.3 billion between January and November 2021, the NPD Group found.” - Businessinsider.com

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Posted By TheNewsCommenter: From Businessinsider.com: “Peloton's disastrous month doesn't mean the future of at-home fitness is dead, analysts say”. Below is an excerpt from the article.

Peloton had a disastrous month — but industry analysts don't believe the drama foreshadows the end of the at-home fitness craze.

After Peloton stock soared 440% in 2020 and the company struggled to meet demand, Peloton stock plummeted below its 2019 IPO price on January 20.

CNBC reported the company saw "significant reduction" in demand for its products and would halt production of its exercise bike for two months. Peloton CEO John Foley denied that Peloton planned to halt production on new bikes and treadmills in a letter to employees. 

Peloton's struggles could suggest more Americans are leaving their homes to exercise. Online searches for "gyms near me" jumped in mid 2021, and Planet Fitness recently announced plans to buy more gyms in the hope that more Americans want to get back to in-person fitness.

In May 2021, IBIS World researchers predicted fitness manufacturing industry revenue to increase at an annual rate of 1.4% to $2.1 billion over the next five years. But part of the growth stems from a projected rise in the gym and fitness club industry, which would allow gym owners to buy higher quality, domestic products.

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