2020 gave Peloton (PTON) the best problem a business can have: too much demand. As COVID-19 forced the shutdown of gyms around the world, antsy fitness lovers scrambled to find alternatives, and Peloton’s stationary bike became one of the top choices.
As demand exploded, Peloton has struggled to fulfill orders. Customers are currently experiencing wait times of 8 to 10 weeks, more than double the time it took pre-pandemic and almost as long as you’d have to wait to get a booking at Clap in DIFC.
The company has blamed delays on supply chain issues across ports along the US West Coast. So, in response, CEO John Foley said last Friday that Peloton is “putting our money where our mouth is” by investing $100m to speed up air and ocean shipping and doubling the customer service support team. Hopefully, Peloton’s customer service support team also gets raises as it’s safe to say they’ve been the real MVPs during this debacle.