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iilluminaughtii

The Story of Peloton’s 3-Year Nightmare | Corporate Casket

iilluminaughtii

Blair Zoń

Documentary, Education, Business, Society & Culture

4.4961 Ratings

🗓️ 28 December 2022

⏱️ 27 minutes

🧾️ Download transcript

Summary

Go to http://dipseastories.com/casket to get a 30-day free trial. Welcome to the Corporate Casket, a semiweekly series where bad businesses go to die. We will discuss any and everything from bad charities, terrible CEOs, and businesses that have a lot to hide. Years ago, the home exercise giant Peloton seemed to be the toast of the town. Everyone was enamored with the rapid rise to success of the company that sold luxury bicycles and treadmills and their skyrocketing profits seemed to reflect consumers' undying love. But, as their orders grew they found themselves enthralled with a whole new host of issues. They scaled way too fast, had one PR blunder after another, and soon lawsuits came flooding in. What’s that saying? What goes up must come down. Yeah, it seems like we might be in the “down” part of Peloton’s story. Connect with me: https://linktr.ee/iilluminaughtii Sources: https://justpaste.it/ccrte Writers/Researchers/Helpers: Jess Hubbert This episode was edited and mixed by: @GThomasCraig Album cover art created by: Betsy Primes Intro Song Credits: Last to Fall- Will Van De Crommert Outro Song Credits: Sacred and Profane- Nicholas Rowe Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

We're about to head into the new year and everyone knows what that means. It's the new year,

0:10.0

new me time. The yearly tradition where millions of people across the world proudly

0:14.0

pronounced to themselves or others that this is going to be their year. They're going to

0:18.9

eat better, exercise more, maybe get a promotion at work. Whatever it is, they're going to do it, mark their words.

0:25.5

And there's nothing wrong with bettering yourself,

0:27.5

but am I the only one that finds this yearly tradition

0:30.4

just a little concerning?

0:33.0

Either way, no matter what you think about New Year's resolutions,

0:36.0

there is one thing that is for sure.

0:38.0

It's a hell of a time to be in the fitness industry.

0:41.0

For one fitness giant, though, they might be missing out on that coveted New Year's

0:44.4

sale bump, Peloton. Over the last few years the company has been experiencing a

0:49.9

roller coaster of success. During the pandemic, they, like many other at-home

0:54.3

fitness companies, basked in the glory of selling more of their product than ever

0:58.1

before. This was the biggest year of the Home Fitness Industry's career and Peloton was leading the pack when it came to curing quarantine boredom and gym withdrawals.

1:07.6

There was just a tiny problem with their sudden increase in sales though.

1:11.0

They didn't have the production set up. So while customers

1:14.6

lined up to order their new favorite bike or treadmill they were shocked to learn

1:17.9

that their order could take over a month to arrive or that their delivery

1:21.5

might just be canceled at the very last minute.

1:24.8

As customers frustrations grew, so did Peloton's problems.

1:28.6

Their ability to control their own messaging seem to be rapidly falling out of their hands as multiple

...

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