Timing is everything it seems. Just yesterday we told you we have been surprisingly accurate with our predictions but when we get it wrong we seem to do so spectacularly.
Case in point was Peloton. We thought the idea was good when the company started but we were at the start of a wearable tech revolution and we thought it would be easy for a slew of competitors to come out with cheaper and better products using IoT and commodity tablets like an iPad attached to a bike.
Just last night we wrote about the Stealth Core Trainer which is an exercise device that uses the phone you have. For $99, it gives you much of what Peloton does – it is interactive, fun, and works many of your muscles. We actually thanked the company for making our prediction come partially true – better late than never :-).
This morning, Echelon launched its new EX-Prime Smart Connect Bike—also known as the Prime Bike. It officially hit the online market as Amazon’s first-ever connected fitness product. The bike is said to be high-quality and costs only $499. Customers can access hundreds of live and on-demand classes, enabling them to enjoy a variety of workouts from home.
“We were built on the idea of attainable fitness for everyone. The Prime Bike was developed in collaboration with Amazon, aiming to create an amazing, connected bike for less than $500 and it’s proven to be a phenomenal match,” said Lou Lentine, President and CEO of Echelon Fitness. “Amazon looking to us to partner on their first-ever connected fitness product is recognition of our commitment to deliver quality at a reasonable price-point as reflected in our explosive growth over the last year.”
Echelon offers an Echelon United Membership 30-day free trial with the purchase of a Prime Bike, giving riders access to thousands of live and on-demand classes led by world-class trainers, as well as a number of scenic rides. Whether someone wants to bring an in-studio fitness experience into their home or immerse themselves in nature, there is a workout for any and every preference.
The Echelon EX-Prime Smart Connect Bike joins a family of Echelon Fitness products, including the Connect EX bike series, Echelon Row and Reflect Fitness Mirrors, as well as a commercial product portfolio.
Competition finally came and costs finally came down but admittedly, Peloton has been an amazing success. In-part because it had the market to itself for many years. Amazon’s entry will likely be successful based on its scale and ability to market for free via its home page. In addition, Bezos makes absolutely solid products for an incredible price. Take the sound quality of an Echo Dot as an example.
Even though this is a joint offering between Amazon and Echelon, the brand loyalty of Amazon will stick to this new offering.
The entry of Amazon into the connected fitness space absolutely hurts Peloton but the connected bike company has a cult following at this point and will occupy the high-end of the market for many years to come.