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Why Americans are ‘Panic Buying’ Rs 1.5 Lakh Peloton Bike Amidst Corona Pandemic

Snapshot from Peloton website.

Snapshot from Peloton website.

The company’s stock has risen by 95 per cent reportedly and its value now stands at $10 million. The brand had, last month, reported that over 23 thousand people had joined one of their live classes.

The world is going through a pandemic, which has not only taken a toll on people’s health and day to day routine but also hit the economy of most countries.

According to a report published in The New York Times in a time when many people are losing their jobs due to the Coronavirus lockdown, Americans are shelling a sum of over $2000 (Rs 1.5 Lakh) on a Peloton bike. In most cases, the equipment has been bought as a ‘panic buy’.

Majority of the people, as mentioned in the report, are buying this machine because working out is an integral part of their routine.

Fitness conscious people have also argued that they cannot even do an outdoor workout these days due to COVID-19.

The report mentions that the company’s stock has risen by 95 per cent and its value now stands at $10 million. The brand had last month reported that over 23 thousand people had joined one of their live classes.

Lauren Allbright, a triathlete, a teacher, and children’s book author who recently bought a Peloton bike for $2245 accepted that this was a pricey purchase and she bought the same in "panic". She emphasised on the fact that how working out is important for mental health.

Many people took to microblogging site Twitter to share their instances of panic buying Peloton bike.