The release of a power-free STRYD, called STRYD Live (effectively STRYD Light) intentionally coincided with the announcement from Zwift that their running platform is open for free access throughout 2018.
OPINION: STRYD Live.
The Zwift Run announcement leads nicely into the $100 STRYD Live footpod. DCR says the price should be c$50 (which is coincidentally the price of the GARMIN footpod). Maybe he is right for the price that people will pay to use a footpod for Zwift Run at a GYM and maybe he is right for the medium-term view as to where prices will end up if and when there is more competition.
Personally I don’t think that there will be a huge market for people buying footpods for power-free gym/treadmill use.Sure there is a MASSIVE market for runners. Just not for treadmill runners who want to gamify their experience, I would contend.
Readers of this blog who have expressed their opinions and people I know will for sure spend $100 on STRYD Live but only as it is a calibration-free, super-accurate source of distance and live pace for outdoor use over BLE and ANT+. they don’t wnat to play a game they want to incrase the precision of the training. And that includes 17 minute 5k runners as well as 25 minute 5k runners.
Sure they’d like a cheaper one, we’d all like cheaper stuff, but many of you balked at $200 if you had zero interest in running power. I’d say ‘Fair Enough’. Of course, many also did NOT balk at $200 for STRYD just for non-power use. I’d include myself in the crowd that initially started using STRYD just for accurate pace.
The truth is that there will be a spectrum of prices that people are willing to pay. That’s true in many walks of business life and one of the tasks of business people is to devise strategies that suit issues from across their whole business that maximise profit whilst taking into account customer behaviour.
Personally I would guess that the sweetspot price is somewhere between $80-$100. That seems like a price that people are prepared to pay for ‘useful stuff’. Useful stuff might include the new Wahoo Tickr Fit, for example. Advocates for cheaper prices could then say “bike sensors are cheaper than that”. Indeed so, but not cheaper by much and the degree of accuracy and hence true usefulness is not so hard to achieve with a bike sensor and that would be why ‘anyone could make one’ (well…almost, hopefully you get the thrust of the point).
Arguments for like-for-like pricing of STRYD Live to MilestonePod and Garmin pods are flawed as the latter two need: calibration at different paces; and don’t currently offer joint BLE/ANT+ compatibility. Furthermore the displayed pace stability of STRYD is just simply better than the MilestonePOD and Garmin’s pods. Sure you can eventually calibrate a Garmin pod to match your treadmill’s pace but: is the treadmill pace right (probably not); if you change pace, will either the treadmill or the footpod still be ‘right’ (probably not); STRYD ‘just works’ in these scenarios…an extra $50 is worth how much of your time calibrating and faffing around?
Note: In the UK the price of the MilestonePOD was around £20 but has increased to around £30 as everyone realised what a great deal it was for those wanting reasonably accurate pace over BLE. Prices can go UP as well as DOWN.
And, yes, I have quite happily used Garmin’d pod for races in years gone by. And, yes, it was annoying that I used to configure it for ‘race pace’ before each race. Just sayin’.
Penny/Dime for your thoughts?
Moving on to Zwift. Here’s my argument as to why it is no big thing and then I shall sweetly end by saying why I’m wrong 🙂
Zwift for cycling is obviously a great fit and will grow and do well. It should become a nicely profitable business. Extending the platform to running clearly must be more straightforward (cheaper/quicker) than creating an online running platform from scratch.
New functions such as custom workouts, group workouts, pacing features and run specific routes are just a few things that will be coming out in the period leading up to summer 2018.
Whilst there are way-more runners than cyclists, I am not so convinced that this will translate into Zwift run subscriptions en masse. That would be for several reasons including: treadmills are more expensive and larger than bike trainers; I would imagine that the penetration of treadmills to the domestic/home market is relatively low; runners are less likely to spend money on tech than cyclists; treadmills and running pods each have their own inaccuracies, compounded when used together; and people often run OUTdoors in much lower temperatures than those who cycle. ie treadmills are not needed as much as bike trainers are needed in lower temperatures.
In my personal experience, I know few UK triathletes who have a home treadmill. And that includes some good & wealthy athletes. Those that use treadmills, on occasion, all use the gym treadmill. Indeed many of them have a ‘favourite’ treadmill at the gym whose calibration is known.
Don’t get me wrong there IS a place for ZWIFT RUN…I’m just not convinced it’s a big place outside of the formal gym setting.
According to Zwift, triathletes make up approx. 22 percent of their cycling membership base – which now totals over 250,000. For easy maths, let’s say that represents a generous 50,000 triathlete Zwift-bike users. I reckon that only a generous 1 in 5 will use Zwift for running. So that makes 10,000 triathletes who will use Zwift run. Then add in a few thousand pure runners and gym members who use also Zwift run. Let’s say another 10,000.
That’s a maximum total of 20,000 Zwift run users @$15pcm or $3.5m pa, in my opinion. Although, in reality, I would expect that the actual subscription rate per annum will be lower than $15 for triathletes who would buy a joint subscription for say $20? $25pm?…that level of pricing is starting to get quite expensive.
Actually $3.5m is not too bad when you count the $$$s. Even if the reality of needing to charge lower prices for Zwift run and/or Zwift bike+run make the amount lower and Zwift get $1m pa I guess that will cover the dedicated run component of R&D and platform costs.
So what do you think?
When do you expect to see $10 accurate footpods? and when will Zwift Running take over the world?
You’re a shy lot. So do these anonymous polls 😉