Full FeedApple’s profit per square foot beats Best Buy and Tiffany&Co
If you step into an Apple store in a shopping mall, chances are you’ll see an area with demos of the different iPod versions, MacBooks, as well as Macs. Then there’ll be Apple software, accessories and peripherals on the other side of the store. That’s quite typical for a PC retail store, right? But reports say that Apple stores rake in more profits per square foot compared to big retailers like Best Buy and even beat luxury retailer Tiffany & Co.
So what are the differences between an Apple store and any other retailer? Probably many, as reported in this article by Red Herring, but based on personal observation, I’d say it is about location, product specialty and product placement.
Best Buy and Tiffany & Co. are perfect retailers to compare Apple against. In Best Buy, products are somewhat cramped together and they’re not specialized. People come in to buy a variety of products at Best Buy, not just a specific brand/product. In an Apple store, products are displayed welcomingly with lots of space for people to move and play around with products.
Although products are well placed and quite specialized at Tiffany & Co., they are a high end retailer and not located in places where everybody just drops in and feels welcome. Compare that to Apple who, even though they offer considerably high end products, have locations in places that even an average Joe wouldn’t mind dropping by and can still feel welcome.
Not to say that people wouldn’t feel welcome at a Best Buy or Tiffany & Co. but someone could get overwhelmed with the amount of products at Best Buy, while others could feel unwelcome in high end luxury retailers like Tiffany & Co. Apple just does a better job of making their retail stores inviting and welcoming - IMHO.
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I did not appreciate the commentary offered in your comparison between the ‘welcome’ feeling consumers receive from an Apple Store as opposed to Tiffany & Co.
I work for Tiffany and took offense to your statement and feel that if that is the only means of comparing the two stores, it may have been more professional to either remove it from the article or compare the two upon an entirely different level.
Every customer is personally greeted at Tiffany and we feature price points for any consumer entering our store.
Finally, to name Tiffany as a ‘high end luxury’ retailer and possibly out priced for shoppers…I am a graphic designer that is also a single mother and had to purchase a PC—because I can not afford a MAC!!!!!
on December 31, 2006 at 09:46 PM - LINKNo one can deny that the sales of the apple growing on daily basis. Apple has great sale of its computers but it now apple computer has higher sales per square foot at its retail stores than Best Buy, Neiman Marcus and even Tiffany & Co. According to a report released by Bernstein Research few days before, apple is on top with it’s per square foot sale per year.
on October 24, 2009 at 02:41 AM - LINKApple: US $ 4032
Tiffany: US $ 2666
Best Buy US $ 930
Neiman Marcus: US $ 611
Performance per square foot is one of the most important metrics in evaluating a retail chains success and I must say that apple is on the way to achieve that success. Best of luck to apple.
WirelessPhoneGallery | The best source of <a >iphone accessories</a>
No one can deny that the sales of the apple growing on daily basis. Apple has great sale of its computers but it now apple computer has higher sales per square foot at its retail stores than Best Buy, Neiman Marcus and even Tiffany & Co. According to a report released by Bernstein Research few days before, apple is on top with it’s per square foot sale per year.
on October 24, 2009 at 02:42 AM - LINKApple: US $ 4032
Tiffany: US $ 2666
Best Buy US $ 930
Neiman Marcus: US $ 611
Performance per square foot is one of the most important metrics in evaluating a retail chains success and I must say that apple is on the way to achieve that success. Best of luck to apple.
WirelessPhoneGallery | The best source of iphone accessories