Apple Store performance blows away other U.S. retailers
Apple Stores gross more than 16 times the U.S. average revenue per square foot of retail space per year, according to new research by RetailSails. $300 per square foot annually is considered respectable, while the U.S. average in malls is around $341. Jewelers average around $600, while the median of the top 20 U.S. retailers sat at $787 per square foot. And what does Apple make? $5,626. Yowza. They're also leading by growth, boasting 49.1% year-over-year increase, which is way ahead of lulemon's second place with 24.2%.
Apple's retail experience is unparalleled, despite being a relatively new venture. Other stores have definitely borrowed a few ideas from Apple Stores, including the recently-launched TELUS Next Generation store. With Apple intent on setting up shop in Wal-Mart stores, one can only expect their retail performance to increase in the forseeable future.
How much do you guys figure you've spent in an Apple store over the last year or so? Do you find it's worth the travel to get to an Apple store, even if another retailer is closer?
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