Apple is not only the most profitable company in the United States; it also has a highly effective retail strategy.
According to data released by Retail Sails, a research firm focused on the retail and consumer goods industries, Apple’s retail stores generated the highest sales per square foot of any retailer in the United States by a wide margin. In the twelve months period covered in the report, Apple raked in $6,050 per square foot. Tiffany & Co., a luxury jewellery retailer, was ranked second with sales of $3,017 per square foot.
In terms of overall sales per store, Apple was ranked ninth, with average sales of $51.1 million. The undisputed leader in this category was Costco with average sales of $137.2 million per store.
These results show that good products alone might no longer be enough. Apple’s strategy of combining great products with a first class retail experience appears to be a winning combination.
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