Each Apple Store in India has earned 22-25 crores in just one month
Apple opened its first ever retail store in India on 18 April – Apple BKC and Apple Saket, respectively. And reports indicate both Indian Apple Stores have become the highest revenue generating electronic stores in the country in just over a month!
According to a report by the Economic Times, the Apple stores at Mumbai and Delhi have generated ₹22-25 crores worth of business each in just over a month. That’s right, the report states that the revenue is twice as much as an average electronic store in India on non-festive timelines.
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Previously, when CEO Tim Cook flew down to India to inaugurate the first ever Apple retail store in the country there were talks of how the establishment of the first retail store after 15 years would look upon the tech giant. Well, now we can say out loud that the brand has been celebrated for its brand value.
The first day, April 18 for the Mumbai store and April 20 for the Delhi store, the footfall of customers was over 6000 in each store. Apple reportedly sold over ₹10 crores worth of Apple products in each of the stores on their respective opening days.
The deputy minister for information technology, Rajeev Chandrasekhar, in conversation with Reuters mentioned, “I am very confident that this Apple-India partnership has a lot of headroom for investments, growth, exports and jobs – doubling and tripling over coming years,”
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In addition, Apple has also branched out the partnership between the tech giant and the world’s largest smartphone market, India by achieving 25% share of contribution in India’a ‘Make In India’ drive. According to India Cellular and Electronics Association data, the smartphones exported from India last year were 50% dominated by iPhones .
Moreover, Apple has established a tight grip around the Indian customers giving the brand the highest revenue generating electronic store in the country. However, an analyst that was mentioned in the ET report suggested that Apple as a brand has a higher average selling price of products and hence, that can be the reason for the brand to be the highest revenue generating store.
