PYMNTS-MonitorEdge-May-2024

Lululemon Looks to Fill Peloton Home Fitness Void

Lululemon has rolled out a new platform offering more content and products for members, called lululemon Studio, a press release said.

It will use connections with in person, at home and on the go services, and will launch Oct. 5. The platform will build on classes and other services available with a MIRROR subscription, referring to the company’s home gym product.

The service will let members access various studios from AARMY, Y7 Studio, DOGPOUND, FORWARD__Space, Pure Barre, Rumble, AKT and YogaSix. Members can stream weekly classes and sign up for discounted classes in person at brick-and-mortar locations. They can also get discounts, early access to events and other things.

“Our guests’ fitness needs have evolved and lululemon Studio is solving for them by providing members with access to fitness content from our world-class trainers and studio partners at home, on the go and live in studios around North America,” said Nikki Neuburger, Chief Brand Officer, lululemon.

Meanwhile, Michael Aragon, CEO, lululemon Digital Fitness, said MIRROR’s flexibility will help it adapt to changing fitness trends. He added that the lululemon Studio feature will help with various things like “extending our relationships with new studio partners and our ambassadors to add hundreds of hours of content in one place, while providing access to in-person studio classes for the ultimate hybrid experience.”

PYMNTS wrote that older consumers still have a place in the market for spending, including on fitness resources.

Read more: Are Lululemon, Nike, Peloton Connecting With Active, Affluent Seniors?

A study done with LendingClub, called “New Reality Check: The Paycheck-To-Paycheck Report: Generational Divide Edition,” is showing that older people aren’t as impacted by financial pressures like paycheck-to-paycheck schedules and spending habits.

The report found that Lululemon’s earnings found a robust demand for workout gear, with websites like Sixty and Me doing a lot to promote various athleisure brands, even when the companies didn’t use them as part of a strategy.

PYMNTS-MonitorEdge-May-2024