- Apple’s stores in India (Mumbai and Delhi) lead electronics sector revenue with impressive sales.
- Mumbai store earned ₹10 crore on opening day, surpassing the monthly earnings of other retailers.
- Industry insiders credit Apple’s higher average selling price and large daily crowds for its success.
Apple has made quite a splash with its first stores in India, located in the bustling cities of Mumbai and Delhi. With impressive monthly sales of between 22 and 25 crores of Indian rupees each, they’ve become the country’s top revenue earners in the electronics sector, according to a Thursday report from the Economic Times. What’s more, these impressive sales are happening outside of India’s big shopping festivals like Diwali.
Apple’s CEO, Tim Cook, was present at the grand openings, engaging with customers and emphasizing Apple’s interest in India as an important market. The stores, one nestled in Mumbai’s Bandra Kurla Complex and the other at Delhi’s Select Citywalk Mall, were inaugurated in April.
Even though the Delhi store, known as Apple Saket, is smaller than its Mumbai counterpart, it’s doing just as well in terms of sales. The two stores cost Apple 40 lakhs and 42 lakhs Indian rupees respectively for rental costs. Notably, the Mumbai store pulled in a staggering ₹10 crore on its first day, far surpassing the typical ₹7-8 crore monthly earnings of a large electronics retailer in India. On their respective opening days, over 6,000 people walked through their doors, marking a strong start for Apple in India.
Why are these stores doing so well? The industry insiders quoted in the report believe it’s due to Apple’s higher average selling price. The stores are also drawing large crowds daily, which in turn fuels their impressive sales, exceeding even the company’s own expectations.