According to an trade insider quoted by ET, “The two Apple stores have clocked monthly average sales of Rs 16-17 crore each consistently since their launch.The Mumbai store revenue has been a little higher than the Delhi one due to a larger size.”
The supply added, “It has met Apple’s expectations, matching some of the best-performing store launches and they are now aggressively scouting space for the next three company-owned stores.”
Apple stores in India
Apple’s CEO, Tim Cook, personally attended the shop openings in Mumbai (Apple BKC) on April 18 and New Delhi (Apple Saket) two days later. The firm is now in superior discussions to determine stores in Pune, Bengaluru, and a second outlet in Noida, NCR, all of which shall be situated in outstanding malls, as confirmed by two trade executives.
One govt talked about that Apple was ready to finish a 12 months of operations at its first two India stores earlier than finalizing plans for additional enlargement.
Another govt accustomed to the matter acknowledged, “Apple will not be happy with just two stores in a market like India. Of course, there are plans to expand. It is a question of when, not if.”
The govt additionally hinted on the firm’s plans to introduce its premium combined-actuality headset, the Apple Vision Pro, in India quickly, presumably throughout the upcoming WWDC developer convention in June.
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Apple has declined to touch upon these developments.
Apple has been focusing closely on India, the second largest smartphone market globally, because it faces challenges in key markets just like the US and China. The firm has been increasing its native manufacturing operations for each home use and exports, and the opening of Apple stores has been a key facet of its market enlargement technique in India. Apple has seen double-digit income development each quarter for the reason that stores opened.
The retail stores are half of Apple’s efforts to extend its quantity and worth share in India, with the purpose of reaching a double-digit smartphone quantity market share as shortly as potential, up from round 7% in 2023.
Industry executives near Apple have famous that the stores present clients with a spot to expertise merchandise, obtain service for present merchandise, and get their questions answered. The excessive footfall, particularly on weekends, is attributed to those being the primary Apple stores in India.
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According to trade executives, the Apple stores supply each tangible and intangible advantages. They function some extent the place folks can expertise Apple merchandise, familiarize themselves with the Apple ecosystem by means of “Today at Apple” classes, and obtain skilled recommendation on utilizing Apple merchandise extra successfully. The stores additionally contribute to model constructing.
An worker on the Apple retailer in Mumbai’s Bandra Kurla Complex (BKC) talked about that she now is aware of some of her common clients by identify, whereas one other worker on the Mumbai retailer mentioned the shop’s location has helped footfalls develop month-on-month. However, some executives level out that these flagship stores are usually not primarily targeted on gross sales, as they don’t supply reductions like approved resellers or giant-format retail stores.
Footfalls are highest throughout new product launches, festivals, and weekends. A Croma retailer worker close to the Apple Store in Delhi famous that clients typically expertise merchandise on the Apple Store however buy them from Croma as a result of reductions and financing choices.