Apple retail revenues per visitor reach new record

In the US, on a sales per square foot basis, Apple retail continues to perform twice as well as Tiffany & Co., the second best retailer, and three times as well as lululemon athletica, the third best retailer.

The latest quarter showed a 7% growth in visitors and a new record revenue of $57.6 per visitor.

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As a result, the average revenue per Apple store per quarter reached $13 million, the highest level for a non-holiday quarter.

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Here are some additional metrics:

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. 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.

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Employment has steadied at about 110 per store. This is a remarkable increase from less than half this level in 2007.

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Hiring remains closely correlated with visits with visitors per employee per quarter holding to slightly more than 2000.

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Profit per visitor also holding steady at about $12/quarter.

Retail performance remains constrained by store size (hence maximum number of visitors) and the number of stores. The strategy seems to be expanding US stores while opening new stores outside the US.

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That would allow growth in visitors and hence in achieving the primary purpose of the stores: maintaining the brand’s relationship with customers.