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Saturday, May 18, 2024

Peloton Plunges in Google Search Trends

  • Peloton showed a 30% year-over-year drop in Google searches in the fourth quarter.
  • Search volume has often correlated with sales.
Peloton
Peloton/Design: Alex Brooks

Peloton is ending the year on an ominous note, if the tale told by Google search volume is to be believed.

U.S. search trends for Peloton show a 30% year-over-year drop in the fourth quarter of this year. U.K. and Germany showed an even larger year-over-year decline.

“Historically, Google search trends data has correlated well with Peloton hardware sales,” wrote Raymond James analyst Aaron Kessler. “Based on our updated analysis, the search trends data indicates continued softening of demand for Peloton sales…”

  • The brand’s U.S. search trends are up 10% from last quarter, less than last year’s 15% increase from Q3 to Q4.
  • Peloton searches in the U.K. and Germany were “flattish” from Q3, despite substantial increases last year.
  • Searches for “cancel Peloton subscription” shot up 809% following the debut episode of the “Sex and the City” spinoff “And Just Like That,” in which a character dies following a Peloton workout.

Seeking a Second Wind

The company is looking for a rebound after it posted a $377.1 million loss in fiscal Q1 2022. While revenue grew 6% year-over-year to $805.2 million, that figure also represents a 14.1% quarter-over-quarter decline.

Peloton rolled out shadow-boxing classes earlier this month and is believed to be working on a rowing machine.

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