You won't believe hype Apple launch events create: Data here
Since 2007, the annual Apple iPhone launch event has carved out a special place among all capitalist spectacles, becoming one of the most impactful events in terms of its effects on consumers. While many have been vaguely aware of this phenomenon, a study by BankMyCell has now revealed the viral impact of Apple's annual launch event on purchase-related and trade-in related queries. Here's more.
Details of the BankMyCell study
For the study, BankMyCell used aggregated search query data from Google's historic global and regional reports for the period 2007-2018. The study compared increases in consumers' queries about a device following an announcement, to consumer interest three months ago, and expressed the increases in percentage terms. Notably, the study found that no other phone manufacturer came close to Apple in this regard.
How iPhone announcements affected buyers' interest
The study found that iPhone announcements led to massive consumer interest spikes. The highest - 230% - was observed following the iPhone 3G announcement. Announcements for the iPhone 4, 5, and 6 saw consumer interest spike by 217.65%, 172.22%, and 203.03% respectively. While interest in the iPhone SE, 7, and 8, were relatively subdued, the iPhone X announcement registered a 122.86% consumer interest spike.
iPhone announcements also led to massive spikes in trade-in-related queries
It's a well-known fact that new iPhone announcements precipitate a massive high among iPhone users, who rush to value their old iPhones and trade them in before their values depreciate. The study found that iPhone announcements from the iPhone 3G to iPhone 5 led to the biggest spikes in trade-in/resale-related queries, with the iPhone 3G announcement registering a whopping 366.67% increase in trade-in-related queries.
Why are Apple's launch events so successful in creating hype?
While it's logical for new product launches to spark interest among consumers, it's important to ask why Apple's launch events decisively outperform those by other phone manufacturers. A major factor behind it is the press frenzy surrounding Apple's launch events. Additionally, with Apple products having tremendous aspirational value, there's also a lot of hype that consumers themselves create within their social circles.
Of late, interest has declined relatively, and so have sales
However, it's important to note that consumer interest and trade-in-related queries surrounding iPhones have declined considerably in relative terms since the announcement of the iPhone SE in 2016. This decline, incidentally, also reflects in iPhone sales, which declined from 231.22mn units in 2015, to 211.88mn in 2016. But, in 2017, sales climbed to 216.76mn units, following fresh interest in the novel iPhone X.
Finally, what does 2018 have in store for Apple?
Now, Apple is all set for its annual iPhone launch event of 2018, scheduled for September 12. While Apple managed to reinvigorate interest in the iPhone last year through the launch of the iPhone X with its infamous notched display, it remains to be seen whether the trillion dollar company can sustain the momentum through its 2018 product line-up.