I have had various comments about how numerous my ‘Apple’ blogs are from people I know, I make no apology – although it would be nice to get the same effect as my colleague Tim Garratt and his Jaguar blog! I still believe that the retail world can learn a lot from Apple and how they run their stores and staff them – they are universally seen as ‘the way to do it’, but recent data further supports that by showing just how efficient they are at selling!
Apple Stores are the possibly the envy of every other retailer on the planet. From their wonderful design to the constant stream of customers, they are all but universally a success. But, how much better do Apple Stores do than the competition? According to a new American study (and one assumes this would be the same the World over), they bring in twice as much in sales per square foot as anyone else in the market.
The research by RetailSales shows that Apple top the list of chain store productivity, pulling in $6,050 in sales per square foot of store. Tiffany the jewellery store come in second place, at $3,017.
The numbers were generated it appears simply by taking the brick-and-mortar sales numbers from the companies, and splitting it among the square footage of store space they occupy.
Apple is the only tech company to break the top ten, a section otherwise dominated by luxury and clothing products. Interestingly there are plenty of other retail chains that sell more than Apple on a per store basis, they just tend to be physically much, much larger. Apple stores are also often in very prime retail locations – so the rents are likely to reflect the footfall. So the data is not as clear as it first looks – but it makes a nice story…..