Apple Takes a Bite Out of Retail as Stores Turn 10
Today, with its 300 stores across the country, and more than $9 billion in retail sales last year, Apple is arguably the most successful retailer on the planet based on sales per square foot.
According to a recent MacWorld article: Jeweler Tiffany & Company's $2,700 per square foot used to be considered the gold standard, but Apple has surpassed Tiffany, generating more than $4,000 in sales per square foot. By comparison, Best Buy's sales per square foot is about $1,000, and Walmart's is about $400. end quote.
Best Buy, for example was thought to get market share from the collapse of Circuit City but that didn't happen. Also, Barnes and Noble was supposed to get market share from the collapse of Borders but that hasn't happened either. It is possible that the Apple Store model is a model of the future that every company that stays in business with store fronts must look at if they want to stay in business ongoing.
Another somewhat related blog article that I wrote is: Is Amazon.com taking over the retail world?
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