Apple Targets Retail Expansion in India to Boost Revenue in 2023
Apple is placing a strong emphasis on retail stores in India to bolster its revenue. The tech giant has raised the sales target for its franchisee-owned exclusive retail stores in the country by up to 100%. As part of its strategy, Apple has started offering discounts both online and at its two company-owned stores in India.
This move comes as Apple aims to enhance its market presence in India and capitalize on the country’s expanding consumer base. By prioritizing retail and providing attractive discounts, Apple seeks to attract a larger customer base and drive sales in the Indian market.
The decision to focus on retail stores reflects Apple’s commitment to utilizing physical storefronts as a key sales channel. This approach aligns with the company’s global retail strategy, which aims to create immersive and engaging experiences for customers.
With its renewed focus on retail in India, Apple aims to provide customers with a personalized and seamless shopping experience while strengthening its position in one of the world’s fastest-growing smartphone markets. By expanding its retail footprint and offering discounts, Apple is poised to capitalize on the increasing demand for its products in India.
Apple is reportedly aiming for double-digit revenue growth in India, as the tech giant continues to focus on expanding its presence in the country. To attract more customers, Apple has introduced a special ‘student’ offer in its company-owned stores. This offer includes discounts and freebies on computers and iPads, making the overall deal more attractive compared to what is available in franchise-based Apple premium reseller stores.
By offering exclusive deals and incentives directly through its company-owned stores, Apple is looking to boost sales and capture a larger market share in India. The student offer is particularly targeted towards students and educational institutions, aiming to make Apple products more accessible and affordable for this segment. The move is part of Apple’s strategy to tap into the growing potential of the Indian market and drive revenue growth in the region.
With a focus on expanding its retail presence and introducing special offers, Apple is making efforts to strengthen its position in India and attract a wider customer base. By offering competitive deals through its stores, Apple aims to differentiate itself from third-party resellers and provide a more compelling value proposition to Indian consumers.
Apple has reportedly set ambitious sales targets for its premium reseller stores in India, with the targets nearly doubling on a year-on-year basis. Currently, there are more than 200 premium reseller stores across the country that exclusively sell Apple products.
By setting higher sales targets, Apple aims to drive more revenue and expand its market share in India. The company recognizes the importance of these premium reseller stores in reaching a wider customer base and providing a premium experience to Apple users. These stores offer a range of Apple products and accessories, along with expert assistance and support to customers.
Apple’s focus on increasing sales through its premium reseller stores reflects its commitment to the Indian market. By working closely with its retail partners and investing in the growth of these stores, Apple aims to enhance the overall customer experience and further establish its presence in the country.
With the demand for Apple products on the rise in India, the company is taking proactive measures to leverage its premium reseller stores and capitalize on the growing market potential.
According to Counterpoint Research, Apple is expected to sell approximately nine million iPhones in India in the current calendar year, representing a notable increase from the six million units sold in 2022. This projection indicates Apple’s growing popularity and market presence in the country.
The report also highlights that Apple’s revenue in India witnessed a year-on-year growth of 16 percent in 2022. This growth further demonstrates the company’s successful strategies in capturing a larger share of the Indian smartphone market.
Apple’s strong performance in India can be attributed to various factors, including targeted marketing efforts, competitive pricing, and the introduction of new models and attractive offers. Additionally, the expansion of its retail network, including premium reseller stores, has played a significant role in driving sales and enhancing customer experience.
As India continues to be a key growth market for smartphone manufacturers, Apple’s focus on expanding its presence and increasing sales in the country aligns with its global growth objectives. With a growing consumer base and rising demand for premium smartphones, Apple is well-positioned to capitalize on the Indian market and drive further revenue growth in the coming years.
According to Tarun Pathak, Counterpoint’s director of research, the premium smartphone market in India, which includes devices priced at Rs 30,000 and above, is experiencing growth, while there is a slowdown in sales in the sub-Rs 10,000 segment. Over the past 2-3 years, the premium segment has doubled its volume share to 16 percent of the overall market, and in terms of value, it now represents half of the market.
Pathak also mentioned that Apple is taking an aggressive approach in the lead-up to the festive season. The company considers its company-owned stores, online platforms, and exclusive outlets as crucial channels for building the end-consumer experience and integrating them into the entire Apple ecosystem.
By focusing on the premium segment and leveraging its retail presence in India, Apple aims to capture a larger market share and enhance customer engagement. The company recognizes the significance of creating a seamless and immersive experience for consumers, ensuring they are not just buying a device but becoming part of the broader Apple ecosystem.
As Apple continues to strengthen its retail network, offer attractive deals, and expand its product lineup, it aims to capitalize on the growing demand for premium smartphones in India and solidify its position as a leading player in the market.
According to market research firm Counterpoint Research, Apple has emerged as the largest brand in the premium smartphone segment in India, surpassing Samsung. This indicates Apple’s growing dominance and popularity in the premium smartphone market in the country.
The shift in leadership can be attributed to Apple’s focused strategy, strong product lineup, and expanding retail presence. The company’s premium offerings, such as the iPhone 13 series, have resonated well with Indian consumers who are increasingly seeking high-end devices with advanced features and cutting-edge technology.
