There’s no doubt that Apple is an extremely successful company, especially considering their recent report of all-time record quarterly sales and revenue yesterday afternoon. They also have an extremely loyal customer base. But just how valuable is Apple? According to CNN’s Dave Goldman, Apple’s flagship Fifth Avenue Apple Store alone is worth nearly as much as the White House!
CNN’s report calculates Apple’s sales per square foot value for the Fifth Avenue store ($4709 per square foot), and compares that to the monetary value of the White House ($4752 per square foot). That’s not a lot of difference!
In comparison to other retailers, Apple’s closest competitor (at least as far as value is concerned) is Tiffany, which has a sales per square foot value of just $2974 – 40% less than Apple’s.
Apple’s retail program has only been around for eleven years, but has quickly risen to the top. Apple’s retail arm now includes over 350 stores, which together generate a massive $14.1 billion per year.
Apple’s retail success is partly due to brand identity and customer loyalty, as well as an extremely polished retail front that makes every shopping experience as smooth and comfortable as possible.