Apple is now the most valuable company in the world with a market capitalization of nearly $600 billion. What are the key drivers of growth of Apple? Apple makes very popular products and dominates portable music players, app stores, smartphones, and tablets. At the centre of its sustainable competitive advantages, Apple is an integrated hardware and software firm. The company is the world’s top innovator, according to KPMG.
A recent infographic by OnlineMBA takes a deeper look at Apple’s famous in-store retail. It reveals that Apple’s major engine of growth is its stores’ productivity. One billion people have visited an Apple Store, since the first opening in 2000. And the potential for international revenues remains strong for Apple.
The following infographic examines a single, crucial element in Apple’s enormous success; namely, their physical retail locations. With close to 400 stores all over the world, Apple’s retail space is by far the most profitable per square foot compared to any other company. Apple’s in-store sales don’t just top others; they beat the competition by a landslide.
Each store generates around $49 million in annual revenues, which represents a total of $18 billion for Apple. While US retail revenue growth for 2012 was flat at 2%, Apple’s retail revenue grew by 38%.
It appears that getting a job in an Apple store is more difficult than getting accepted at Harvard. Thus, only 2% of job applicants got a job at Apple store, while 7% of Harvard applicants were accepted at the prestigious university. Each Apple store employee brought twice as much revenue as the industry average ($420,000 vs. $206,000). Employees there start at less than $24,000 full-time. And Apple is in another league when one compares with competition sales per square foot (For 2011: $5,647).
No matter what field of business you plan to find yourself in, entrepreneurs in all over the world will certainly be able to appreciate that when it comes to bringing in the bucks, nobody does it like Apple.