09-13-2018, 03:52 AM
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#1510
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The Un-Tuckian
Join Date: Apr 2007
Location: South Central...KY that is
Posts: 39,517
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Peloton CEO: Sales increased after we raised prices to $2,245 per bike
Quote:
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“It was interesting psychology that we teased out,” Foley recalls. “In the very, very early days, we charged $1,200 for the Peloton bike for the first couple of months. And what turned out happening is we heard from customers that the bike must be poorly built if you’re charging $1,200 for it. We charged $2,000 dollars for it, and sales increased, because people said, ‘Oh, it must be a quality bike.’”
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~from the link
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