Apple CEO Tim Cook took time during his keynote address at the Goldman Sachs Technology and Internet Conference to talk about the future of Apple’s retail stores. The average Apple store receives 10 million visitors a week, as a result, some 20 stores are being shuttered and moved to larger locations.
According to an article on TechCrunch:
Apple retail stores, he said, have gone beyond being sales hubs. A store “acts as a gathering place, which has an important role in the community” for youth groups, musicians and more. “I’m not even sure if ‘store’ is the right word any more,” he said. “They have taken on a much bigger role. They are the face of Apple. People don’t think about the Cupertino headquarters; they think of the Apple store.”
This is a message that’s important for Cook to get across, considering that last quarter, Q1 2013, the stores saw only an incremental increase in revenue per store compared to a year ago — $1.25 million per week compared to $1.22 million in Q1 2012. Overall, the stores pulled in $6.44 billion for the quarter. Cook noted that the average Apple store last year made over $50 million in revenue.
Cook noted that Apple will add 30 stores, “disproportionately outside the U.S.” In addition to adding “lots more” stores in China, he also confirmed that Apple will open its first store in Turkey this year. Apple had been hiring in both Rio de Janeiro and Istanbul but had only confirmed the Brazilian retail operation. “We still have a long way to go,” Cook said of the company’s plans to add more countries to its list. “We’ll never be in every one of them.”