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Peloton's New Resale Platform: Smart Business Move or Operational Nightmare? · Omni Talk Retail

• 0:00
  Peloton
• 0:00
  is
• 0:00
  launching
• 0:01
  a
• 0:01
  resale
• 0:01
  market
• 0:02
  for
• 0:02
  used
• 0:03
  bikes
• 0:03
  and
• 0:03
  treadmills.
• 0:04
  According
• 0:04
  to
• 0:04
  cnbc,
• 0:05
  Peloton
• 0:05
  has
• 0:05
  launched
• 0:06
  its
• 0:06
  own
• 0:06
  secondary
• 0:07
  marketplace
• 0:07
  called
• 0:08
  Repowered
• 0:09
  to
• 0:09
  get
• 0:09
  a
• 0:09
  slice
• 0:10
  of
• 0:10
  the
• 0:10
  burgeoning
• 0:10
  resale
• 0:11
  market
• 0:11
  for
• 0:11
  connected
• 0:12
  fitness
• 0:12
  equipment.
• 0:13
  Beginning
• 0:13
  last
• 0:14
  Tuesday.
• 0:14
  People
• 0:14
  in
• 0:15
  select
• 0:15
  cities
• 0:16
  can
• 0:16
  now
• 0:16
  list
• 0:16
  their
• 0:16
  equipment
• 0:17
  and
• 0:17
  gear
• 0:17
  for
• 0:18
  sale
• 0:18
  and
• 0:18
  Repowered
• 0:19
  and
• 0:19
  set
• 0:19
  their
• 0:19
  own
• 0:19
  price
• 0:20
  with
• 0:20
  the
• 0:20
  help
• 0:20
  of
• 0:20
  a
• 0:21
  generative
• 0:21
  AI
• 0:21
  tool
• 0:22
  sellers
• 0:23
  will
• 0:23
  get
• 0:23
  70%
• 0:24
  of
• 0:24
  the
• 0:25
  sale
• 0:25
  price
• 0:25
  and
• 0:25
  the
• 0:25
  rest
• 0:26
  will
• 0:26
  be
• 0:26
  shared
• 0:26
  between
• 0:27
  Peloton
• 0:27
  and
• 0:28
  the
• 0:28
  platform
• 0:28
  platform
• 0:29
  provider
• 0:29
  Archive.
• 0:30
  Repowered
• 0:31
  is
• 0:31
  launching
• 0:31
  first
• 0:32
  in
• 0:32
  beta
• 0:32
  in
• 0:32
  New
• 0:33
  York
• 0:33
  City,
• 0:33
  Boston
• 0:34
  and
• 0:34
  Washington,
• 0:34
  D.C.
• 0:35
  with
• 0:35
  plans
• 0:35
  to
• 0:35
  go
• 0:35
  nationwide
• 0:36
  in
• 0:36
  the
• 0:36
  coming
• 0:37
  months,
• 0:37
  Peloton
• 0:37
  said.
• 0:38
  Chris,
• 0:38
  this
• 0:39
  is
• 0:39
  also
• 0:39
  the
• 0:39
  AM
• 0:40
  put
• 0:40
  you
• 0:40
  on
• 0:40
  the
• 0:40
  spot
• 0:41
  question
• 0:42
  A
• 0:42
  and
• 0:42
  M
• 0:42
  wants
• 0:43
  to
• 0:43
  know,
• 0:43
  is
• 0:43
  skipping
• 0:44
  the
• 0:44
  heavy
• 0:44
  lifting
• 0:45
  worth
• 0:45
  the
• 0:45
  30%
• 0:46
  selling
• 0:46
  fee
• 0:47
  or
• 0:47
  will
• 0:47
  Peloton
• 0:48
  fanatics
• 0:48
  stick
• 0:49
  to
• 0:49
  using
• 0:49
  other
• 0:50
  places
• 0:51
  for
• 0:51
  selling
• 0:51
  their
• 0:51
  products
• 0:52
  like
• 0:52
  Facebook
• 0:52
  Marketplace?
• 0:54
  Interesting,
• 0:55
  interesting
• 0:55
  question.
• 0:56
  I
• 0:56
  think,
• 0:56
  yeah,
• 0:56
  I
• 0:57
  think
• 0:57
  it's
• 0:57
  probably
• 0:57
  worth
• 0:57
  it.
• 0:58
  I
• 0:58
  think
• 0:58
  there's
• 0:59
  a,
• 0:59
  there's
• 0:59
  a
• 0:59
  segment
• 1:00
  of
• 1:00
  the
• 1:00
  population
• 1:00
  where
• 1:01
  if
• 1:01
  they're
• 1:01
  in
• 1:01
  this,
• 1:01
  they're
• 1:02
  going
• 1:02
  to
• 1:02
  want
• 1:02
  the
• 1:03
  extra
• 1:03
  validity
• 1:04
  that
• 1:04
  doing
• 1:04
  it
• 1:04
  through
• 1:04
  the
• 1:05
  Peloton
• 1:05
  platform
• 1:06
  provides.
• 1:06
  Like
• 1:06
  a
• 1:07
  certified
• 1:07
  pre
• 1:07
  owned
• 1:08
  situation
• 1:08
  kind.
• 1:08
  Of
• 1:09
  thing,
• 1:09
  you
• 1:09
  know.
• 1:09
  You
• 1:10
  know,
• 1:10
  especially
• 1:10
  when
• 1:10
  you
• 1:10
  think
• 1:10
  about,
• 1:11
  you
• 1:11
  know,
• 1:11
  who
• 1:11
  the
• 1:11
  average
• 1:12
  demographic
• 1:13
  is
• 1:13
  of
• 1:13
  the
• 1:13
  current
• 1:13
  Peloton
• 1:14
  holder.
• 1:15
  Yep.
• 1:16
  Or
• 1:16
  owner.
• 1:17
  The
• 1:17
  thing
• 1:17
  I
• 1:18
  would
• 1:18
  say
• 1:18
  about
• 1:18
  this
• 1:18
  though,
• 1:19
  as
• 1:19
  much
• 1:19
  as
• 1:19
  I
• 1:19
  think,
• 1:20
  as
• 1:20
  much
• 1:20
  as
• 1:20
  you,
• 1:20
  as
• 1:22
  I
• 1:22
  think
• 1:22
  when
• 1:22
  reading
• 1:22
  the
• 1:23
  headline,
• 1:23
  I
• 1:23
  wanted
• 1:24
  to
• 1:24
  like
• 1:25
  this
• 1:25
  headline.
• 1:25
  Yeah.
• 1:26
  I
• 1:26
  think
• 1:26
  I'm
• 1:26
  a
• 1:26
  little
• 1:27
  cautious
• 1:27
  on
• 1:27
  this.
• 1:27
  Like
• 1:28
  I
• 1:28
  think
• 1:28
  I
• 1:28
  would,
• 1:28
  my
• 1:29
  thing
• 1:29
  would
• 1:29
  be
• 1:29
  I
• 1:29
  would
• 1:30
  go
• 1:30
  very
• 1:30
  slowly
• 1:31
  with
• 1:31
  this.
• 1:31
  It's
• 1:32
  only
• 1:32
  in
• 1:32
  select
• 1:32
  cities
• 1:33
  right
• 1:33
  now,
• 1:33
  as
• 1:33
  you
• 1:33
  mentioned,
• 1:34
  and
• 1:34
  I
• 1:34
  think
• 1:35
  the
• 1:35
  dynamics
• 1:35
  of,
• 1:36
  you
• 1:36
  know,
• 1:36
  making
• 1:37
  this
• 1:37
  successful
• 1:38
  in
• 1:38
  places
• 1:38
  like
• 1:38
  Boston
• 1:39
  and
• 1:39
  New
• 1:39
  York
• 1:39
  City
• 1:40
  are
• 1:40
  very
• 1:40
  different
• 1:40
  than
• 1:41
  a
• 1:41
  nationwide
• 1:41
  rollout,
• 1:42
  which
• 1:42
  they're
• 1:42
  already
• 1:43
  saying
• 1:43
  they're
• 1:43
  going
• 1:43
  to
• 1:43
  do.
• 1:43
  So
• 1:44
  that
• 1:44
  worries
• 1:44
  me
• 1:45
  a
• 1:45
  lot,
• 1:45
  especially
• 1:45
  given
• 1:46
  Peloton's
• 1:46
  operational
• 1:47
  track
• 1:47
  record.
• 1:47
  Right.
• 1:48
  Because
• 1:48
  the
• 1:48
  dynamics
• 1:49
  of
• 1:49
  delivering
• 1:49
  those
• 1:49
  cities
• 1:49
  are
• 1:50
  very
• 1:50
  different
• 1:50
  than
• 1:50
  say
• 1:50
  Yuba
• 1:51
  City,
• 1:51
  California,
• 1:52
  shout
• 1:52
  out
• 1:52
  to
• 1:52
  my
• 1:52
  friends
• 1:52
  in
• 1:53
  Yuba
• 1:53
  City,
• 1:54
  which
• 1:54
  I
• 1:54
  do
• 1:55
  have.
• 1:56
  So
• 1:56
  that,
• 1:56
  that's
• 1:56
  the
• 1:56
  one
• 1:57
  caveat
• 1:57
  here.
• 1:57
  I'd
• 1:57
  say
• 1:57
  I'd
• 1:58
  say
• 1:58
  good
• 1:58
  idea.
• 1:59
  But
• 1:59
  I
• 2:00
  would
• 2:00
  go
• 2:00
  slower
• 2:01
  at
• 2:01
  this
• 2:01
  than
• 2:02
  you're
• 2:02
  reporting
• 2:02
  to,
• 2:03
  especially
• 2:03
  when
• 2:03
  you're
• 2:03
  dropping
• 2:04
  things
• 2:04
  like
• 2:04
  AI
• 2:04
  into
• 2:05
  this
• 2:05
  headline
• 2:05
  too.
• 2:05
  It
• 2:05
  makes
• 2:06
  me
• 2:06
  think
• 2:06
  you're
• 2:06
  trying
• 2:06
  to
• 2:06
  gin
• 2:07
  up
• 2:07
  some
• 2:07
  excitement
• 2:08
  about
• 2:08
  something.
• 2:08
  Anyone
• 2:09
  who's
• 2:09
  used
• 2:09
  any
• 2:10
  resale
• 2:10
  platform
• 2:11
  realizes
• 2:12
  that
• 2:12
  whether
• 2:12
  you're
• 2:13
  reselling
• 2:13
  like,
• 2:14
  you
• 2:14
  know,
• 2:14
  video
• 2:14
  Games
• 2:15
  or
• 2:15
  clothing.
• 2:16
  Like
• 2:16
  everybody,
• 2:17
  it
• 2:17
  automatically
• 2:19
  uses
• 2:19
  generative
• 2:20
  AI
• 2:20
  to
• 2:20
  give
• 2:20
  you
• 2:21
  a
• 2:21
  suggested
• 2:21
  price
• 2:22
  for.
• 2:22
  Your
• 2:22
  product
• 2:22
  or
• 2:22
  quote
• 2:22
  unquote,
• 2:23
  an
• 2:23
  algorithm.
• 2:23
  Yes,
• 2:24
  exact.
• 2:26
  So
• 2:26
  yes,
• 2:26
  that's
• 2:26
  for
• 2:26
  sure
• 2:27
  sizzle.
• 2:27
  But
• 2:28
  I
• 2:28
  do
• 2:28
  think
• 2:28
  that
• 2:28
  there's
• 2:29
  some
• 2:29
  opportunity
• 2:29
  here.
• 2:30
  Yeah,
• 2:31
  you're
• 2:31
  Peloton
• 2:31
  market
• 2:32
  than
• 2:32
  I
• 2:32
  am.
• 2:34
  Here's
• 2:34
  the
• 2:34
  problem
• 2:35
  that
• 2:35
  I
• 2:35
  have.
• 2:35
  And
• 2:36
  you
• 2:36
  called
• 2:36
  it
• 2:36
  out
• 2:37
  brilliantly.
• 2:37
  They
• 2:38
  should
• 2:38
  go
• 2:38
  slow
• 2:39
  and
• 2:39
  they
• 2:39
  need
• 2:39
  to
• 2:40
  figure
• 2:40
  out
• 2:40
  exactly
• 2:41
  how
• 2:41
  this
• 2:42
  is
• 2:42
  going
• 2:42
  to
• 2:42
  work.
• 2:42
  As
• 2:42
  someone
• 2:43
  who's
• 2:43
  purchased
• 2:43
  a
• 2:44
  used
• 2:45
  after
• 2:45
  aftermarket
• 2:46
  peloton.
• 2:46
  Is
• 2:47
  that
• 2:47
  what
• 2:47
  you
• 2:47
  call
• 2:47
  it?
• 2:47
  That's
• 2:48
  right.
• 2:48
  Yeah.
• 2:48
  I
• 2:48
  purchased
• 2:48
  one
• 2:48
  on
• 2:49
  Facebook
• 2:49
  Marketplace.
• 2:50
  I
• 2:50
  had
• 2:50
  to
• 2:50
  get
• 2:50
  it
• 2:51
  repaired
• 2:52
  and
• 2:53
  the
• 2:53
  it
• 2:54
  was
• 2:54
  a
• 2:54
  total
• 2:54
  disaster.
• 2:55
  Total
• 2:55
  disaster.
• 2:56
  Peloton
• 2:57
  essentially
• 2:57
  told
• 2:57
  me
• 2:58
  that
• 2:58
  they,
• 2:58
  that
• 2:58
  I
• 2:58
  should
• 2:58
  just.
• 2:59
  That
• 2:59
  I
• 2:59
  should
• 3:00
  pay
• 3:00
  fourteen
• 3:01
  hundred
• 3:01
  dollars
• 3:02
  for
• 3:02
  a
• 3:02
  repair,
• 3:03
  that
• 3:03
  I
• 3:03
  needed
• 3:03
  to
• 3:03
  have
• 3:03
  a
• 3:04
  fourteen
• 3:04
  hundred
• 3:04
  dollar
• 3:04
  repair
• 3:05
  kit.
• 3:05
  And
• 3:05
  I
• 3:05
  said
• 3:06
  can
• 3:06
  I
• 3:06
  get
• 3:06
  a
• 3:06
  new
• 3:06
  bike
• 3:07
  for
• 3:07
  like
• 3:08
  1500
• 3:08
  dollars
• 3:09
  brand
• 3:09
  new?
• 3:10
  And
• 3:10
  they
• 3:10
  said
• 3:11
  oh
• 3:11
  yes.
• 3:12
  And
• 3:12
  the
• 3:13
  guy,
• 3:13
  the
• 3:13
  help
• 3:14
  like
• 3:14
  so
• 3:15
  it's
• 3:15
  stuff
• 3:15
  like
• 3:15
  that.
• 3:16
  The
• 3:16
  help
• 3:16
  desk
• 3:16
  guy
• 3:17
  was
• 3:17
  like
• 3:17
  oh
• 3:17
  yeah,
• 3:18
  I
• 3:18
  guess
• 3:18
  we'll
• 3:18
  figure
• 3:18
  out
• 3:19
  how
• 3:19
  to
• 3:19
  do
• 3:19
  this.
• 3:19
  And
• 3:19
  so
• 3:20
  I
• 3:20
  would
• 3:20
  just
• 3:20
  caution
• 3:21
  Peloton
• 3:22
  to
• 3:22
  make
• 3:22
  sure
• 3:22
  that
• 3:22
  you
• 3:22
  have
• 3:23
  all
• 3:23
  of
• 3:23
  these
• 3:23
  scenarios
• 3:24
  played
• 3:24
  out
• 3:25
  and
• 3:25
  figured
• 3:25
  out.
• 3:26
  But
• 3:26
  I
• 3:26
  do
• 3:26
  think
• 3:27
  in
• 3:27
  the
• 3:27
  long
• 3:27
  term
• 3:28
  if
• 3:28
  they
• 3:28
  can
• 3:28
  do
• 3:28
  that,
• 3:29
  there's
• 3:29
  definitely
• 3:29
  money
• 3:29
  to
• 3:30
  be
• 3:30
  made
• 3:30
  with
• 3:30
  extended
• 3:31
  warranty
• 3:31
  programs
• 3:32
  with
• 3:32
  things
• 3:33
  like
• 3:33
  delivery
• 3:34
  services
• 3:34
  and
• 3:35
  keeping
• 3:35
  your
• 3:35
  bike
• 3:36
  drivers
• 3:36
  and
• 3:36
  repair
• 3:37
  people
• 3:38
  employed
• 3:39
  more
• 3:39
  and
• 3:39
  having
• 3:39
  more
• 3:39
  for
• 3:40
  them
• 3:40
  to
• 3:40
  do
• 3:41
  if
• 3:41
  they
• 3:41
  can
• 3:41
  get
• 3:42
  more
• 3:42
  of
• 3:42
  this
• 3:42
  community
• 3:43
  to
• 3:43
  get
• 3:43
  on
• 3:43
  board.
• 3:44
  But
• 3:44
  yeah,
• 3:44
  but
• 3:44
  I
• 3:44
  think
• 3:45
  you're
• 3:45
  right.
• 3:45
  I
• 3:45
  mean
• 3:45
  as
• 3:45
  you're
• 3:45
  saying
• 3:45
  that
• 3:46
  those
• 3:46
  are
• 3:46
  hard
• 3:46
  businesses
• 3:47
  on
• 3:47
  which
• 3:47
  to
• 3:47
  make
• 3:48
  money.
• 3:48
  The
• 3:48
  delivery
• 3:48
  of
• 3:49
  heavy,
• 3:49
  heavy
• 3:50
  goods
• 3:50
  and
• 3:50
  services
• 3:51
  and
• 3:51
  that
• 3:51
  type
• 3:51
  of
• 3:53
  hard
• 3:53
  to
• 3:53
  make
• 3:53
  money
• 3:54
  on
• 3:54
  that
• 3:54
  consistently.
• 3:54
  And
• 3:55
  you
• 3:55
  got
• 3:55
  to
• 3:55
  figure
• 3:55
  that
• 3:55
  out.
• 3:55
  So.
• 3:56
  Right.
• 3:56
  Yeah.
• 3:56
  I
• 3:57
  don't
• 3:57
  know.
• 3:57
  So.
• 3:57
  So
• 3:57
  we're
• 3:57
  both
• 3:58
  kind
• 3:58
  of
• 3:58
  like
• 3:59
  maybe,
• 4:00
  maybe
• 4:00
  not
• 4:00
  on
• 4:01
  this
• 4:01
  one.
• 4:01
  I
• 4:01
  think
• 4:01
  I,
• 4:02
  I
• 4:02
  think
• 4:02
  Peloton's
• 4:03
  track
• 4:03
  record
• 4:04
  isn't
• 4:04
  giving
• 4:04
  me
• 4:04
  a
• 4:04
  lot
• 4:04
  of
• 4:05
  confidence
• 4:05
  that
• 4:05
  this
• 4:05
  is
• 4:06
  going
• 4:06
  to
• 4:06
  be
• 4:06
  able
• 4:06
  to
• 4:06
  be.
• 4:07
  That
• 4:07
  it's
• 4:07
  thought
• 4:07
  through
• 4:08
  enough
• 4:08
  that
• 4:08
  they're
• 4:08
  not
• 4:08
  going
• 4:09
  to
• 4:09
  move
• 4:09
  before
• 4:09
  they're
• 4:10
  ready
• 4:10
  to
• 4:10
  just
• 4:11
  based
• 4:11
  on
• 4:11
  how
• 4:11
  we've
• 4:12
  seen
• 4:12
  that
• 4:12
  company
• 4:13
  act
• 4:13
  over
• 4:13
  the
• 4:13
  last
• 4:14
  several
• 4:14
  years.
• 4:14
  Wow.