Categories: Retail

SoulCycle Challenges Peloton By Launching At Home Bike

SoulCycle is gearing up to release its own at-home bike that could compete with rival Peloton, after teasing the product last summer, according to reports.

The fitness company's product looks similar to Peloton's, with on-demand cycling classes that can be streamed through a monthly contract with the Variis platform. Features of the bike will include a 21.5-inch full HD screen, 4GB of RAM, a G-sensor and NFC support.

The bike's footprint will be larger than Peloton’s, and it will be around seven pounds heavier. SoulCycle’s bike will have a 350-pound maximum, compared to Peloton’s 300-pound limit.

SoulCycle's version of the product will cost around $2,500, which comes with a five-pack of live classes. There is no extra charge for shipping and installation, although customers will have to pay $250 to remove the bike if they decide to return it after the 30-day trial.

While both the SoulCycle and Peloton bikes support clip-ins for cycling shoes, Peloton's package also includes shoes, a floor mat, a heart rate monitor and headphones.

To use the SoulCycle bike, users will have to subscribe to one year of the Variis app, which costs $40 per month after the trial period. The subscription also includes access to other classes from SoulCycle's parent company, such as Pure Yoga, Equinox and HeadStrong, which can be streamed through Variis.

Equinox has not said whether it intends to release an option to subscribe to Variis without buying the bike. The company did say it intends to release a connected treadmill, also likely to work with Variis.

SoulCycle's entry into the home-bike field comes at an interesting time for the service, as the coronavirus outbreak has been profitable for companies peddling products for at-home use.

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The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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