Peloton is changing how people buy and sell used gym equipment.
On Tuesday, the company introduced its own marketplace where members can resell their used Peloton gear. This new platform uses AI to suggest prices for items, but sellers have the final say on what price they want.
Peloton’s move comes as the resale market for gym equipment grows. By creating this marketplace, Peloton aims to give members a safe and easy way to buy and sell equipment.
According to Peloton, sellers will receive 70% of the sale price. The remaining 30% will be split between Peloton and the marketplace’s platform provider. The new platform is called Repowered.
Sellers will also get discount codes for future purchases, including:
$400 off Bike+
$200 off Tread
$600 off Tread+
$200 off Row
To protect buyers, Peloton will have access to the equipment’s history for each listing. This helps ensure that buyers get accurate information and are not misled.
Sellers need to create an account with Archive, a third-party service provider, to list their items on Repowered. This account is separate from a Peloton account.
Peloton’s website explains: “To list an item, you must create an Archive account on the Peloton Repowered site. This account is separate and not connected to Peloton. Information you provide will be used to set up your Archive account. Archive may share some information with Peloton, according to their Privacy Policy.”
It remains to be seen if this new marketplace will be a major success for Peloton.
