UPDATE: Sep. 1, 2023, 5:00 a.m. EDT This story has been updated to reflect Mashable's latest hands-on testing and updated pricing information.
You probably know that the pricey, cult-favorite Peloton bikes skyrocketed in demand at the beginning of the pandemic. As gyms and boutique fitness studios shuttered in 2020 and folks turned to exercising from home, home gym equipment (especially smart machines like spin bikes and fitness mirrors) became indispensable. They let us work off stress, stay active indoors, and join online workout classes.
But now that the world has long-since opened up again, demand for Peloton fitness equipment has slowed down significantly, and the future of the brand is unclear. For people just now building out their home gyms, Peloton isn't the go-to option it used to be.
Fortunately, Mashable shopping reporters are here to help you find the best Peloton alternative for your home workout. Keep reading to learn more about the future of the Peloton brand and our favorite Peloton alternatives.
Peloton's rocky road
Peloton has faced a lot of instability over the last few years — and that's putting it lightly.
According to a report from CNBC at the end of January 2022, Peloton planned to temporarily halt production of connected bikes and treadmills due to waning demand. The company paused manufacturing for two months to recoup costs following diminishing interest in their products, which they attributed to increased price sensitivity on the part of consumers, as well as a steep hike in competitor activity since the start of the COVID-19 pandemic.
Amid these production issues, Peloton also announced in February 2022 that it would layoff 2,800 workers and that the Peloton CEO and founder John Foley would be stepping down. Then, on Aug. 12, 2022, Peloton announced that it would once again be cutting jobs and hiking prices, and on Oct. 6, 2022, the company announced it would be cutting 500 more jobs.
Things haven't gotten much better in 2023. On May 11, Peloton announced a voluntary recall of all bikes sold since Jan. 2018 (that's a little over two million units) due to an issue with the bike's seat post. In the company's announcement, Peloton described the reason for the recall, saying that the seat posts have the potential to "break unexpectedly during use, creating a potential fall and injury risk." So far, 35 reports of seat post malfunctions have been identified by Peloton, and 13 of those reports resulted in injury, including lacerations, bruises, and a wrist fracture. To remedy the issue, Peloton is offering free seat post replacements to anyone who qualifies for the voluntary recall, which will roll out slowly through the remainder of 2023.
If you're still in the market for an at-home fitness bike, it's no longer Peloton or bust. For folks searching for Peloton alternatives, there are some amazing studio-quality spin bikes available that will give you the same thrill and sweat as a Peloton bike. Some of them are even compatible with the Peloton app.
Is there a cheaper alternative to Peloton?
While Peloton had some significant price drops in 2022, permanent prices on its flagship products are back up, likely due to company instability. The OG bike originally sat at $2,195, dropped down to $1,895, then to $1,495, and finally down to $1,195, but now is back up at $1,445. The original Peloton bike is now available at Amazon at this price, with free Prime delivery. (Sometimes, you can find it on sale for less.)
Similarly, the Bike+ went from $2,495, down to $1,995, and back up to $2,495 since its 2020 release. These prices, of course, are on top of the monthly membership fee that was hiked up to $44/month as of June 1, 2022.
Peloton's connected fitness equipment was more worth it when the prices were lower in 2022, but now that they're back up, there are way more stationary bikes on the market than just Peloton, meaning there's pretty much one for every budget.
When shopping for an indoor bike, decide what type of cycling experience you want. Are you looking for a studio-style bike with an attached screen? Do you want to be able to stream interactive workouts directly to your bike? Or are you looking for something cheaper and plan to use your own device for workout classes? The driving question here is which app or site you want to get your workouts from, or if you just want a bike to pedal indoors while watching TV. Bikes without connected monitors or membership-based fitness programs tend to be $500 to $1,000 cheaper than those with flashy screens.
Pro tip: Get a cheap spin bike and then sign up for the Peloton monthly app to enjoy the best of both worlds.
What is the best Peloton dupe in 2023?
While there are plenty of affordable alternatives to Peloton, what if you want a more high-end experience? To get a Peloton-like experience with even more added high-tech features, we recommend the NordicTrack S22i Commercial Studio Cycle, which was hands-on tested by a Mashable reporter.
This bike is truly versatile: it comes with a free 30-day iFit subscription, lets you stream movies and TV to the screen, and has added incline and decline on top of resistance for an extra workout challenge. You'll also notice a 360-degree rotating screen that opens up a whole world of floor and mat workouts for those days when you need a break from riding. This feature is only available with the Peloton Bike+, so NordicTrack is 100% on top of the trends.
If you're not already sold on a NordicTrack bike, check out our full list of the best Peloton alternatives on the market: