Apple is taking “a massive bite” out of US retail sales, USA Today reports, citing findings by retail sales expert David Berman. Snowballing sales of iOS gadgets and Mac sales that continue to outpace other computer makers coupled with Apple’s margins that are the envy of the industry didn’t go unnoticed. The publication noted:
It certainly helps that Apple’s brick-and-mortar stores are attracting the ever-growing number of visitors who purchase products directly from Apple, putting more money into the company’s pockets because the company doesn’t have to share a mark up with third-parties. Flagship locations like the Fifth Avenue store in New York (which is currently undergoing rejuvenation) earn the biggest chunk of Apple’s retail revenue, especially the spectacular glass cylinder store in Shanghai’s Pudong district which has risen to become Apple’s most profitable store.
Apple Stores, which turned ten on May 19, recently greeted their one billionth visitor. In addition to the US, Apple Stores today reach far-flung places like Australia, Canada, China, France, Germany, Italy, Switzerland, UK and Japan. The company had 323 stores as of this March. Then, there’s a store of another kind, the iTunes Store, selling high-revenue, low-margin music and movies but also more profitable mobile apps. The App Store alone is projected to rake in $7.7 billion in revenues this calendar year, leaving Apple with a cool $2.31 billion after its 30 percent cut to cover the costs of running the show.
