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    SoulCycle exchanges used Peloton bikes for in-person classes

     

    • Workout studio SoulCycle is offering to exchange used Peloton bikes for 47 free, in-studio classes as part of its new Souls Reunited program, per details shared with Marketing Dive. 

    • The limited-time offer goes live Wednesday (July 27) and is available for the first 100 eligible people who sign up. To qualify, people must own a fully-paid Peloton Bike or Peloton Bike+, live within 20 miles of one of SoulCycle’s 83 studios and not have taken an in-studio class after March 16, 2020.

    • Heralding the slogan “F#ck Riding Solo,” SoulCycle will collect used Peloton Bikes free of charge and recycle them. The program is part of a larger campaign, “F#ck It, Let’s Ride,” which pushes the return of in-person workouts as pandemic restrictions ease.

     

    SoulCycle’s approach to increase in-person workouts is bolder than the typical antics employed by gyms, such as free pizza or merchandise, to attract new customers and comes after a devastating few years for the industry. 

    Souls Reunited falls under a larger campaign and TV commercial launched in June, “F#ck It, Let’s Ride,” that was created in collaboration with VCCP New York. A 30-second spot shows a group of people smiling and supporting one another through a cycling workout and is meant to remind consumers of the invigorating experience and sense of accomplishment that comes with working out together as SoulCycle looks to drive membership signups.

    “Riding in a studio is an unrivaled experience, adding a much needed dose of intoxicating energy and an electric atmosphere into our workout routines, and we missed this during the pandemic,” said Evelyn Webster, CEO of SoulCycle, in a statement. 

    At the beginning of the pandemic, home workout companies experienced a massive boom, like Peloton, which saw its revenue jump 172% YoY in June 2020 as gyms were forced to close their doors and search for more creative ways to reach workout enthusiasts. On path to a comeback, SoulCycle’s offer to recycle Peloton Bikes not only alludes to the home workout brand’s recent setbacks, but tries to ride off the value of shared experiences as people look to get back outside.  

    This isn’t the first push of its kind for SoulCycle, which launched its “Mind Altering Fitness” campaign in 2021 as a way to keep its customers feeling present and motivated beyond the studio walls — an underlying theme to the brand. The campaign was tied to studio reopenings, Mental Health Awareness month and the brand’s 15th anniversary. The workout studio has competed more directly with Peloton in recent years and released a comparable at-home bike in March 2020 priced at $2,500.

    Earlier this year, Peloton launched a new campaign, “Motivation That Moves You,” that acts as a brand refresh and emphasizes a sense of community, using its popular instructors to motivate users as the company continues to try to bolster its business. In July, it announced it would outsource all manufacturing in a plea to address supply chain and cost structure issues after having temporarily paused production in January. It also released a commercial starring Chris Meloni in July that focused on the Peloton app versus the bike, representing yet another pivot for the brand as it peddles to a new beat.

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