May be an unpopular opinion but I'm so sick of Ryan Reynolds' smug voiceovers in adverts!
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Yep but it's help make him insanely wealthy. The gin brand he bought was sold on to Diageo for $610 million. That brand seems to have increased so much thanks to the ads like the one mocking peloton. I guess might as well overuse himself while it's still working / people are paying him the big bucks for it.
Peloton share prices rebounded a bit initially, but now they've fallen to a new low. I'm glad a Ryan Reynolds ad didn't reverse it - maybe we'll hear his voice less?
Their problems are far deeper than a product not used in a complementary way on a TV show. I didn't realise they had quite so many showrooms across the UK (28), even with retail rental units cheaper I wonder how long they'll have a presence on just so many high streets?
Their problems are far deeper than a product not used in a complementary way on a TV show. I didn't realise they had quite so many showrooms across the UK (28), even with retail rental units cheaper I wonder how long they'll have a presence on just so many high streets?
I think the showrooms are definitely going to close down (I didn't realise they had that many either!)
Whoever has invested in them and given them their ridiculous sales targets haven't realised that they're a niche product, they can't envisage a peloton product in every home as they are a high price tag product - before you even factor in the monthly subscription
Considering they've been going for 10 years in January I don't think they're going anywhere, they may focus more on expansion in other countries and pull back on marketing slightly here? Or push the app only subscription in markets they've already maximised on, as £13 a month is more palatable, and then people who enjoy the app would naturally migrate over to purchasing the hardware (like me!)
On another note, I just got my little "the cooldown" year in review video and it's so cute!
Also if you go on the pelobuddy website they have an article discussing how peloton showroom sales people commission rates have been reduced - sales people could make 10k a month!!
They’re also abysmal - I’m not shitting on retail staff in a pandemic but there’s something wrong with them - either Peleton training is tit or their pay is so I don’t blame the staff for it. But my husband was hellbent on getting one and yet we’ve never managed to order one despite 3/4 visits to two different stores!
Oh that is interesting - https://www.pelobuddy.com/report-peloton-cut-retail-pay/
$10k a month seems insane for a retail job, I know they'll be skilled in the products but still
I've only seen the kings road store and presumabled they just had a few in premium locations. Agree they probably won't be going anywhere (as long as they haven't tied themselves up too much with commitments to expand). But the idea they were going to grow and grow was ridiculous. I doubt many will go for the digitial membership when they could get apple or something else for cheaper.
Leaving the house to go to the gym must be something so many working from home really like doing.
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Prior to November, a retail employee would have a commission structure where they received $75 per Tread or Bike sold until they hit their monthly goal, and after that, $100 per Bike or Tread. With these changes, that commission per Bike or Tread has been dropped to the $10-$25 range per device sold – regardless of whether you hit your sales targets or not. A new addition is a bonus, or monthly incentive. If an employee hits their sales target, they might receive a $500 bonus for the month. If they are able to sell 150% of their sales target, they would get a $1,000 bonus. If they do not hit their full sales target, employees might receive a portion of this bonus as “a courtesy.” On top of this, employees were given a bump in hourly wages.
One additional issue employees report is that the sales targets are based on trends from the previous year, and are therefore not achievable. Most of them were set by looking at the November 2020 data, when Peloton was having a massive boost in sales. These numbers are reported to not have been updated to take into account the softer than expected sales that caused Peloton to reduce their outlook. This means the majority of the employees are not going to hit their sales targets, and receive the maximum bonus (or any bonus at all). On top of not selling enough devices to earn a bonus, the softened demand simply means less people buying Bikes or Treads, which means less commission and less pay.
$10k a month seems insane for a retail job, I know they'll be skilled in the products but still
I've only seen the kings road store and presumabled they just had a few in premium locations. Agree they probably won't be going anywhere (as long as they haven't tied themselves up too much with commitments to expand). But the idea they were going to grow and grow was ridiculous. I doubt many will go for the digitial membership when they could get apple or something else for cheaper.
Leaving the house to go to the gym must be something so many working from home really like doing.
---
Prior to November, a retail employee would have a commission structure where they received $75 per Tread or Bike sold until they hit their monthly goal, and after that, $100 per Bike or Tread. With these changes, that commission per Bike or Tread has been dropped to the $10-$25 range per device sold – regardless of whether you hit your sales targets or not. A new addition is a bonus, or monthly incentive. If an employee hits their sales target, they might receive a $500 bonus for the month. If they are able to sell 150% of their sales target, they would get a $1,000 bonus. If they do not hit their full sales target, employees might receive a portion of this bonus as “a courtesy.” On top of this, employees were given a bump in hourly wages.
One additional issue employees report is that the sales targets are based on trends from the previous year, and are therefore not achievable. Most of them were set by looking at the November 2020 data, when Peloton was having a massive boost in sales. These numbers are reported to not have been updated to take into account the softer than expected sales that caused Peloton to reduce their outlook. This means the majority of the employees are not going to hit their sales targets, and receive the maximum bonus (or any bonus at all). On top of not selling enough devices to earn a bonus, the softened demand simply means less people buying Bikes or Treads, which means less commission and less pay.
What do they say? You're better off getting gym membership so you can go spin then for a sauna steam and swim afterwards for not much more per month
shocked to read this!
I’m genuinely stunned to learn they’re on commission! I don’t know if they saw the baby and thought we’d be a no go but one store us & another family with a toddler were actively blanked (such an 80s cliche surely?) and then in the other store the level of knowledge was just so low & in fairness I think this was when they were having stock problems…? But it was sort of a super disinterested eh x weeks/months rather than we can reserve you one with y% upfront or have a SA take your details and call you etc etc. Other stores with much lower price points in close proximity in CW (eg Thomas Pink ~£120 a shirt and Church’s ~£600 a pair) have such a better SA experience including direct emails with relevant products to your purchase history, I know they’re bigger companies with repeat custom and likely better margins but considering the stores are always absolutely barren it wouldn’t take much to establish or develop your own leads? We both found all experiences super bizarre & considering I can’t hold my husband back from gadget purchases it’s truly shocking no one there managed to sell him oneOh that is interesting - https://www.pelobuddy.com/report-peloton-cut-retail-pay/
$10k a month seems insane for a retail job, I know they'll be skilled in the products but still
I've only seen the kings road store and presumabled they just had a few in premium locations. Agree they probably won't be going anywhere (as long as they haven't tied themselves up too much with commitments to expand). But the idea they were going to grow and grow was ridiculous. I doubt many will go for the digitial membership when they could get apple or something else for cheaper.
Leaving the house to go to the gym must be something so many working from home really like doing.
---
Prior to November, a retail employee would have a commission structure where they received $75 per Tread or Bike sold until they hit their monthly goal, and after that, $100 per Bike or Tread. With these changes, that commission per Bike or Tread has been dropped to the $10-$25 range per device sold – regardless of whether you hit your sales targets or not. A new addition is a bonus, or monthly incentive. If an employee hits their sales target, they might receive a $500 bonus for the month. If they are able to sell 150% of their sales target, they would get a $1,000 bonus. If they do not hit their full sales target, employees might receive a portion of this bonus as “a courtesy.” On top of this, employees were given a bump in hourly wages.
One additional issue employees report is that the sales targets are based on trends from the previous year, and are therefore not achievable. Most of them were set by looking at the November 2020 data, when Peloton was having a massive boost in sales. These numbers are reported to not have been updated to take into account the softer than expected sales that caused Peloton to reduce their outlook. This means the majority of the employees are not going to hit their sales targets, and receive the maximum bonus (or any bonus at all). On top of not selling enough devices to earn a bonus, the softened demand simply means less people buying Bikes or Treads, which means less commission and less pay.
What do they say? You're better off getting gym membership so you can go spin then for a sauna steam and swim afterwards for not much more per month
Maybe they were not to order any of it and get the commission while the stock was low. So people ended up ordering themselves online.
Peloton sales staff must be super pissed off at the moment - the Christmas party was canceled unless you were on screen talent (who all have a large IG following..) and they tried to pretend it was just a private party for friends and family. Then seeing the boss buy a 55 million super mansion while sales staff have had their income slashed must be frustrating.
Peloton sales staff must be super pissed off at the moment - the Christmas party was canceled unless you were on screen talent (who all have a large IG following..) and they tried to pretend it was just a private party for friends and family. Then seeing the boss buy a 55 million super mansion while sales staff have had their income slashed must be frustrating.
I loved my cool-down too. Top instructor was Cody which came as no surprise to me
Yes I’ve been following them for a while it’s fantastic but I really need to stick to the calendar and do it religiously
I do it for like a week and then drop off, it’s going to be my goal for January to commit to it fully. There are some amazing resultsI've been in the group a few months but haven't started it yet
I'm going to do total strength 2 and then start the calendar I think!
I tried total strength one but I can’t click with Andy tbh. I have a good strength/lifting background so just need some structure!!
About to hop on to do Ben’s new year ride after over a month off. Pray for my bum.
Did that today
banging
Highly recommend Sam’s New Years Day recovery ride
Peloton users. Who are your fave instructors? I seem to circle round to Ben + Wilpers on the bike and Becs, Wilpers + Adrian for running/strength. Who am I missing out on?
hello hopping on!! i recently hopped back into peloton after a break so do more “lifting” but i missed it lol
susie chan is my faaaaave for the tread! she recently helped me get a sub 35 min 5km, which is impressive since i couldn’t run 5km in less than 50 mins in september - daniel is great too (absolutely no filter)
bike is cody - just so fun
boot camps HAVE to be Jess sims
and i really like adrian williams for strength!