Apple's Retail Revenue Hits Record High of $58 Per Visitor, Credit the iPad?
From a financial standpoint, Apple continues to rake in record revenues, netting itself a $9.5 billion profit last quarter, which is nearly 16x the most recent record-setting Powerball jackpot. As improbable as that might have seemed, it happened, and things are only getting better for Apple.
Asymco analyst Horace Dediu announced on Monday that Apple saw a 7 percent growth in visitors to its brick-and-mortar stores last quarter. Not only are more people coming in, but they're spending larger sums of money, too. The average Apple customer who set foot into one of the company's retail stores last quarter spent $57.60, a new record and twice as much as the next most lucrative outlet, Tiffany & Co.
"Average visitors per store has steadied to 250,000 per store per quarter (average for trailing 12 months). This is a quantum increase from about 170,000 per store per quarter in the twelve months ending Q1 2010," Dediu noted in his blog. "The reason for this might be the increase in floor space of newer stores and the renovation of older stores. The new store throughput rate might be an upper bound due to fire regulations."
What's not so easy to explain is how Apple can continue to squeeze more money out of its customers. It's not as simple as chalking it up to the so-called Apple Tax, a term used to describe the pricing premiums Apple products and components carry over its competitors. One possible explanation is the success of Apple's iPad line, which is still the top selling tablet family, though lower priced Android slates are carving away significant market share.
Whatever the reason, Apple investors should sit back and enjoy the ride rather than panicking over every bit of news.