Apple Stores continue to be a popular destination for shoppers, and foot traffic this past quarter was around the same level it was the same quarter a year-ago. The number of purchases, however, appear to have declined significantly, and the average revenue per store was down 17%.
Despite lower retail revenue from its Apple Stores, Apple still managed to post record profits and revenues. While investors might be concerned about the drop off in revenue per Apple Store, I think one of the more interesting tidbits is that foot traffic remained extremely high. The economy is in the gutter, and people are logically and noticeably spending less money these days. With that in mind, if you can convince consumers to come into your store and browse around even when they have no intention of buying anything, how can that be a bad thing? If anything, it shows that interest remains high, and imagine the increase in revenue once the economy begins to recover (whenever that might be).
Lastly, it’s worth noting that Apple’s retail stores continue to produce the most amount of revenue per square foot ($4,700 to be exact) than any other retail stores in the country