Someone in the twitter comments said that Pelaton was actually more affordable before and they only got traction when they raised the price and made it a premium subscription. Is that true?
"It was interesting psychology that we teased out," Peloton CEO John Foley recalled in an interview last year with Yahoo Finance. "In the very, very early days, we charged $1,200 for the Peloton bike for the first couple of months. And what turned out happening is we heard from customers that the bike must be poorly built if you're charging $1,200 for it. We charged $2,000 dollars for it, and sales increased, because people said, 'Oh, it must be a quality bike.'"
Lmaooo
You can do that by cutting out juice or candy in a matter of weeks.
I have three dining tables and they are all very special to me.It's supposed to be the centerpiece of your million dollar apartment. Get rid of the dining table.
Yikes. So they increased prices 2x and got more sales because people were tricked into thinking it was somehow built better? Did they actually put the money back into the bike itself or did that just up their profit margin.
I think you know the answer to that. The funny thing is that they reported a $245.7 million loss for 2019. They lost $47.9 million in 2018.