Peloton's CEO Peter Stern announced that the company is diversifying its outreach by distributing products to gyms via its subsidiary, Precor, and is also introducing a marketplace for second-hand equipment called Repowered. This aims to enhance the customer experience compared to traditional platforms like Facebook Marketplace. Additionally, Stern highlighted efforts to leverage AI for personalizing workouts, suggesting the goal is to match members with tailored programs and appropriate instructors to ensure a more individualized fitness experience.
Historically, [second-hand sales have] taken place, for example, on Facebook marketplace, and that's absolutely fine for people who want to do that, but it means that you need to transact with a stranger on both ends, and potentially have that stranger come into your home.
I want to find ways to scale coaching by creating individualized programs for each of our members so that they can get the right class from the right instructor that's personalized for them.
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