Apple's India Stores Witness Exceptional Monthly Sales of Rs 25 Crore Each

Apple Stores in Delhi and Mumbai Achieve Record-Breaking Sales

According to a report Apple's recently launched stores in Delhi and Mumbai have achieved extraordinary monthly sales figures of over Rs 22-25 crore each. Industry experts have noted that this is nearly double the sales of other electronics stores in the country during the non-Diwali period. As a result, Apple Stores have emerged as the largest revenue-generating electronics retailer in India.

Successful Inaugurations and Impressive Sales Figures

Apple's CEO, Tim Cook, attended the inauguration ceremonies of both the Mumbai and Delhi stores. The Mumbai store, situated in Jio World Drive at Bandra Kurla Complex, reported first-day sales of more than Rs 10 crore. This figure exceeded the monthly sales of several large local electronics stores by Rs 2-3 crore. The Delhi store, located in Saket, also achieved remarkable sales figures, positioning it as a significant contributor to Apple's revenue.

Apple's Revenue Generation per Square Foot

While the Mumbai store at BKC spans an impressive 22,000 square feet, the Delhi store in Saket, measuring over 10,000 square feet, generates similar revenues. This demonstrates the efficiency of the Delhi store in terms of revenue generation per square foot. The monthly rent for the Mumbai store is Rs 42 lakh, slightly higher than the rent for the Delhi store, which is Rs 40 lakh.

Factors Contributing to Apple's Success

Industry insiders attribute the outstanding performance of Apple Stores to the higher average selling price (ASP) of Apple products. With a loyal customer base and strong brand following, both stores consistently attract a large number of visitors. Experts suggest that the sales from Apple Stores have exceeded the company's expectations, showcasing the demand for Apple devices in the Indian market.

The Impact on iPhone's Average Selling Price

Navkendar Singh, Associate Vice President of market research firm IDC India, reveals that the average selling price (ASP) of iPhones in India through offline channels in 2022 ranged between $935 and $990, while online sales averaged around $890. With the introduction of the two Apple Stores, the overall ASP of iPhones is anticipated to exceed $950. It is important to note that this figure does not include the 18% Goods and Services Tax (GST) applicable to smartphones.

Sustainable Sales Performance and Market Dynamics

Given the price-sensitive nature of the Indian smartphone market, sustaining the impressive sales numbers at the two Apple Stores will be an interesting challenge. Experts anticipate a surge in sales during iPhone launches, and if Apple allocates higher inventory to its stores, sales figures are likely to increase further. This becomes particularly significant considering the high demand and relatively limited supply of iPhones at the time of their launch.

News Conclusion

Apple's stores in Delhi and Mumbai have achieved remarkable monthly sales figures, making them the leading revenue generators in the Indian electronics retail sector. With an elevated average selling price and a strong brand following, Apple continues to attract customers and exceed expectations in the Indian market. The sustained success of these stores will be crucial in maintaining Apple's position as a prominent player in the country's electronics manufacturing sector.