Amazon announced a Prime-branded stationary bike which is giving competition to all other bikes. Prime bike has a similar look like the Peloton but does not have a screen to stream workouts. Prime Bike is Amazon’s first-ever fitness product.
Amazon didn’t manufacture the bike itself but partnered with Echelon to manufacture a less expensive version of its predecessor bikes. Prime bike is comparatively cheaper than Echelon’s non-prime bike.
It works with an app that gives us fitness classes and cycling classes for a monthly fees. Prime gives a 30 days free trial to its prime bike buyers. Users need to have a iPad or laptop nearby to take cycling classes.
Amazon sells other cheaper stationary bikes. It is clear that it’s using the Prime branding and signaling it wants to form its mark into the booming at-home fitness category. Amazon also sends weights and other gears under its Amazon Basics line.
For Peloton, the pandemic has been quite profitable . There has been 172% surge in sales and the price has also been increased by 15% and has also introduced a new version. Peloton is also going to launch a new treadmill soon. But the shares of Peloton have dropped by 4% after the announcement of Amazon’s Prime bike, but the stock has been recovered.
The prime bike is viewed as a serious contender to Peloton’s crown in case of fitness bikes. The Echelon bikes looked like a in budget alternative for Peloton’s smart bike and the news of its collaboration with Amazon made its launch more exciting.
But Amazon soon ruined the buzz and denied any formal connection to the so-called Prime bike. The bike’s listing on Amazon’s website was removed and the press release for the merchandise from Echelon Fitness touting its work with Amazon was deleted.
“Echelon does not have a formal partnership with Amazon. We are working with Echelon to clarify this in its communications, stop the sale of the product, and change the product branding”, said amazon’s spokesperson.
Despite all the collaboration news, the Prime bike was definitely a cheaper alternative for people as compared to the Peloton’s fitness bike. Prime bike costs $499 on the other hand Peloton’s fitness bike costs $1,895.
For now the launch of prime bike is unclear. This is bizarre that a company could fabricate a collaboration with a retailing giant as big as Amazon. So we know there are obviously crossed wires somewhere.
So let’s now wait for further news on the Prime bike.