"We used it a ton during Covid," Mr. Edwards, 27, said. Now, though, "we use our free time to do things other than working out." After tucking the bike in a corner of the living room, he moved it upstairs to a spare bedroom. "We have not utilized it enough to warrant the space it takes up," he said.
Mr. Edwards posted his Peloton for sale on Facebook last week, offering the bike, along with weights, two sets of shoes and a mat from Peloton, as well a sheet of plywood he bought to stabilize the bike on a carpet, for $1,300. (Mr. Edwards said he had spent more than $2,000 for the entire package from Peloton, including delivery.) He has not gotten any interest from potential buyers so far.
Peloton has offered a cautionary tale about quickly changing consumer habits. At the height of the pandemic, its business soared as gyms shuttered and Covid restrictions kept people at home. But many who bought Peloton bikes at their peak popularity are now returning to gyms and busy schedules, and some are regretting what might be their most expensive pandemic-era purchase. Sites like Facebook, Craigslist and eBay are flooded with posts offering used Peloton bikes, shoes and weights.
At the same time that many consumers are trying to sell used equipment, Peloton is looking to sell used inventory as well. In August, Peloton ran a 10-day test of its certified pre-owned bike program, which allowed consumers to buy secondhand bikes through the company. On a call with analysts last week, Barry McCarthy, Peloton’s chief executive, said the program was a top priority for the business.