Peloton has introduced Peloton Repowered, a resale marketplace for its used equipment and gear, according to CNBC and other media outlets. The program is being tested in New York City, Washington, D.C. and Boston, with plans to roll it out nationwide in the coming months.
Sellers will be able to set their own price for their equipment and will have access to a generative AI tool that suggests a price based on product information such as its age. Sellers will get 70% of the sale price, with the remainder shared between Peloton and Archive, the resale platform powering the experience. Buyers will be able to activate their secondhand Peloton equipment for $45 rather than the usual $95, while sellers will get a discount toward the purchase of new equipment.
The Repowered platform will compete with other resale marketplaces as well as Trade My Stuff, formerly known as Trade My Spin, which specializes in reselling Peloton products. Trade My Stuff founder Ari Kimmelfeld told CNBC he had previously met with Peloton to discuss potential collaborations, but Peloton has apparently decided to go its own way with resale.
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