This brief article looks at comparative web traffic to onepeloton.com, which is Peloton's homepage and the websites of its closest competitors.
Method:
I chose Nordictrack, Myxfitness and Echelon as 3 closest competitors to Peloton, since they also provide hardware (exercise bikes, treadmills) and some form of subscription service. This study was performed to look at trends in website visitors to the respective home pages from around the world and see if there would be any insight gained. Data was complied from Cloudflare.com radar tool with a look back period of 30 days.
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| Figure: Comparison of visitor location to website by country (Y-axis represents percentage) |
Results:
- The 4 companies were tied very close to each other for visitors origination in US.
- Countries where Onepeloton.com was a leader were with visitors from Germany, Ireland and Sweden. Besides these three, it was not a leader in any of the other top countries studied.
- Myxfitness.com was a leader for visitors from UK, Australia, the Netherlands, Japan and Georgia.
- Nordictrack was a leader for visitors from France, Singapore, India, and Hong Kong and seemed to have good penetration in Asia.
- Echelonfit.com was the leader when it came to visitors from Canada, Brazil, Poland, Colombia,
Portugal and Austria. It had a the biggest share in South America.
Discussion
There did not seem much headroom for any of the companies when it came to website traffic for US. All of these had highest traffic percentage from US and it was close. The differences were most apparent when we looked at visitors from other countries. Australia which was recently opened up as a market for Peloton lagged behind Myxfitness and Nordictrack in this study. Echelonfit seemed to have a greater brand awareness and penetration in South America where it topped in both Brazil and Colombia.It was also the one with a dedicated .MX site. Nordic track had the greatest brand awareness in Asia, as suggested from highest percentage of visitors from Singapore, India and Hong Hong. Myxfitness led for visitors from Japan. There are some limitations to this study, most notable, the look back period is 1 month, second, website visitors does not always translate into customers but at least a small fraction of people visiting the website could be come potential customers for the services. Finally, VPN and proxy tools could affect the origination of web traffic but I would anticipate this would affect all the websites proportionally and this would be a minor issue for comparison.
Disclaimer: I own shares of Peloton. As part of being a good investor, it is important to carefully evaluate investments from time to time. This is to assess if the companies you are invested continue to meet your expectations.
