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Around 12% of Lululemon shoppers also use Peloton, according to Earnest credit card data. Conversely, over a quarter of Peloton users are already shopping at Lululemon. This represents a sizable opportunity for the at-home fitness brand to broaden its reach through its new strategic partnership with Lululemon.
Both brands stood out post pandemic. Lululemon continued to outperform as other apparel brands lost share of customer wallet to experiential spending. Peloton helped change how middle and upper income earners work out during the pandemic by bringing the fitness studio experience home through a monthly subscription. Now, Lululemon’s broad reach could translate into meaningful customer growth for Peloton. The move could also help insulate Peloton from the effect of the impending student loan payment resumption, which could impact the company.
