Apple India stores mark successful first year with strong sales
What's the story
Apple's premier stores in India, Apple BKC in Mumbai and Apple Saket in New Delhi, have reported robust sales during their inaugural year.
According to The Economic Times, each store generated ₹190-210 crore in the last fiscal year.
They consistently clocked monthly average sales of ₹16-17 crore each since their launch, with the Mumbai store registering slightly higher revenue due to its larger size.
These figures place the Indian outlets among Apple's highest-grossing retail stores worldwide.
Growth strategy
Expansion plans in India underway
Apple is reportedly satisfied with the performance of its Indian stores, which aligns with expectations and mirrors some of the most successful global store launches.
The company is now considering further expansion in India and is said to be in advanced talks to establish new outlets in Pune, Bengaluru, and Noida.
As per sources close to the matter, these stores are expected to be located in leading shopping malls.
Apple is also likely launching the Vision Pro in India soon.
Scenario
Focus on India amid global challenges
Apple has intensified its attention on India, the second-largest smartphone market globally, amid geopolitical hurdles and declining sales in crucial territories like the US and China.
Besides boosting local manufacturing for domestic consumption and exports, Apple stores have played a key role in the company's expansion strategy in India.
Since their inception, Apple has consistently achieved double-digit revenue growth each quarter.
Customer experience
How Apple's retail stores attract customers?
Apple's retail stores in India offer customers an opportunity to interact with the brand's products, and ensure a uniform level of service similar to other global markets.
These stores also contribute to brand building through "Today at Apple" sessions, where experts conduct tutorials on maximizing the use of Apple products.
Despite customers often opting for nearby resellers for discounts and financing options, Apple's retail stores continue to attract high traffic, especially during weekends, new product launches, and festivals.