Apple store employees generate $278 per hour in revenue for the companyBy Shawn Knight 14 comments
New estimates from Asymco's Horace Dediu indicate that each Apple store employee generates about $278 per hour in revenue for the company. These findings are based off of data that Cupertino publishes about its retail segment and are cataloged at ifoAppleStore.com.
An average Apple store generates over $100,000 per employee per quarter. In 2010, revenue on average was $481,000 per employee. A retailer like JC Penny only generates around $124,000 per employee per year.
Using these metrics and others, Dediu was able to calculate that each visitor to the Apple store generates about $45 in revenue. There are over 250 million visits per year, and already 222 million in the first three quarters of 2011.
Data also shows that there is one employee for every 2,500 visitors per quarter. Assuming that an employee works for 360 hours per quarter, this breaks down to around six visitors per hour or one every 10 minutes.
The statistics are pretty incredible and it seems the sky is the limit for Apple retail stores. The company opened their newest store at Grand Central Terminal in New York City earlier today. In typical fashion, the entire terminal was packed with Apple fans anxious to be part of the experience. The Grand Central Terminal Apple Store is now the fifth Apple store in New York City and will likely become the flagship location.