Apple is ramping up its efforts in India’s retail market to boost its revenue this year. The company aims to increase sales from the 200 or so franchisee-owned exclusive retail stores in India.
To achieve this, Apple has introduced a global consumer promotion and student discount at its company-owned brick-and-mortar and online stores in India. These initiatives, distinct from the offers in Apple authorised resellers and exclusive premium reseller stores, demonstrate the company’s desire for double-digit revenue growth in India.
Apple has implemented a ‘student’ offer in its company-owned stores, which includes discounts and freebies on Mac computers and iPad tablets. The total value of this deal surpasses what is available in the franchise-based Apple Premium Reseller stores. Despite a declining smartphone market, Apple is projected to sell approximately nine million iPhones in India this year, compared to six million in 2022. In 2022, Apple’s revenue in India grew by 16 per cent year-on-year.
Counterpoint Research, an industry tracker, indicates that the premium smartphone market (priced above Rs 30,000) where Apple operates is expanding, while the sales slowdown is primarily observed in the sub-Rs 10,000 segment. Over the past two to three years, the premium segment’s volume has doubled to account for 16 per cent of the overall market, and by value, it now represents half of the market.
To capitalise on the upcoming festive season, Apple is aggressively leveraging its stores, online platforms, and exclusive outlets to enhance the end-consumer experience and integrate them into the Apple ecosystem. Apple currently leads the premium smartphone segment in India, with Samsung following closely behind.
According to an industry executive, Apple recently held a meeting with premium resellers to discuss ways to increase sales. They advised the franchise stores to expand their area to 2,000 sq ft where possible and focus on improving the store’s interior and customer experience. With Apple’s plans to open more company-owned stores in addition to the existing ones in Mumbai and Delhi, franchise stores are looking for ways to provide similar services.
