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Monthly sales of Rs 25 cr each! Apple’s India stores hit it out of the park

According to The Economic Times (ET), each of Apple’s new shops in Delhi and Mumbai has generated monthly sales of more than Rs 22–25 crore. These locations are in Mumbai and Delhi, respectively. According to those who work in the industry, this number represents about twice as much revenue as an average electronics shop in the nation makes throughout the rest of the year. This puts the Apple Store in the position of having the highest annual income of any electronics shop in the nation.

The Apple Store in Mumbai first opened its doors on April 18, and the Apple Store in New Delhi followed suit two days later. Tim Cook, the CEO of Apple, was present for the opening ceremonies of both of the new locations. The Jio World Drive location at the Bandra Kurla Complex serves as the retail outlet for the Mumbai location. According to a report from ET, Apple BKC claimed a first-day billing of more than Rs. 10 crore, which is around Rs. 2-3 crore more than what some of the top local electronics retailers can achieve in a month.

Even at the busiest time of the festival season, big electronic retailers in India may achieve a maximum sales volume of between Rs 3 and 5 crore. This demonstrates how popular and in-demand Apple products are, despite the fact that their costs are higher.

Mumbai store and Delhi Store

On the other hand, if one considers the amount of income generated per square foot, the shop in Saket, New Delhi, comes out on top. Even though Apple Saket is much larger than 10,000 square feet, it is significantly smaller than the Apple shop in BKC, Mumbai, which spans 22,000 square feet. Apple Saket is over 10,000 square feet.

The shop in Mumbai is double the size of the one in Delhi, yet ET stated that the two locations made comparable amounts of income. The monthly rent for the shop located in BKC, Mumbai, is reportedly Rs 42 lakh, while the rent for the store located in Sakte, Delhi, is reportedly Rs 40 lakh.

How is Apple doing it?

In the story, it was said that those who are familiar with the trends in the business had been reported as saying that the two Apple shops might establish new sales records due to the much higher average selling price (ASP) of Apple items. This results in increased income, and given the devotion that people have for the Apple brand, the two shops continue to be busy practically every day. The analysts went on to say that Apple Store revenue had surpassed the company’s projections in this regard.

According to Navkendar Singh, associate vice president of market research company IDC India, the average selling price (ASP) of an iPhone in India in the calendar year 2022 was $935–990 when purchased via offline channels, whereas the number remained at $890 when the device was purchased online. With the addition of the two Apple Stores, it is quite probable that the average selling price of an iPhone will go beyond $950. This number is distinct from the Goods and Services Tax (GST) rate of 18% that applies to cellphones.

Indian market and Apple

It is known that consumers in the Indian smartphone industry are sensitive to pricing and always seek the most value for their money. In light of the aforementioned information, it will be fascinating to see whether or not the two establishments can keep up their sales statistics. An authority on the market said that there would undoubtedly be an increase in sales with the debut of an iPhone, and if Apple chooses to allot more inventory to its shops, there would only be an increase in sales at those stores. This is noteworthy since there was a larger demand for iPhones at the time of their debut, yet there was only a very limited quantity available.

Aryan Jakhar
Aryan Jakhar
Aryan Jakhar is an Indian Journalist with over two years of active working experience. Aryan is currently working as editor-in-chief at BusinessHeadline.in and he is reachable on contact@businessheadline.in
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