Research analyst Asymco recently ran some numbers based on RetailSails’ August 2011 report, which showed that Apple was the number one retailer on a sales-per-square-feet average. Asymco’s data show that Apple stores have 17 times better performance than the average retailer.
We all know that Apple is really good at being really good at stuff, especially when it comes to customer service at their retail stores. You can actually purchase an item using the Apple Store app, walk into a retail store, scan the item you bought, and walk out without having to deal with a single person. It can’t get any better than that.
Asymco’s data shows that Apple is more than twice as efficient at sales per square feet than the next highest retail store, Tiffany & Co. The analyst firm also found that Apple is seven times more efficient than the median of the top 20 stores and 17 times better than the average mall retail space. The data only includes physical retail and excludes e-commerce, catalog or services revenues.
Asymco also analyzed retail growth in overall sales and found that Apple was outperforming other stores in that area as well. Apple retail stores, year-over-year, have grown by 70 percent, while the next highest sales growth comes from Lululemon Athletica with approximately45 percent.
While impressive, this information should be viewed with a cautious eye. Of course Apple will outperform other retail stores on a per-square-foot average. Their stores are usually about the size of a mall boutique, although some are larger. The products they sell are more expensive than what you would find at Wal-Mart or Urban Outfitters. This makes it easy to see high averages because it is based on how expensive an item is and how small a store is. The comparison is more of an “Apples” to oranges connection when it comes to average sales per square feet. This information makes Apple-philes feel good about their heroes, but isn’t it really just a bit of ego stroking?