Apple Stores Are Almost Here; Mumbai will host India’s first

The much-anticipated Apple Store will come up at the Mukesh Ambani-owned Jio World Drive mall in Mumbai’s upscale Bandra Kurla Complex commercial hub. The company already sells directly to customers through its online platform and through third-party resellers.

The launch of the Apple Store is part of efforts to attract India’s increasingly affluent population and capture a larger share of the market for premium smartphones, computers and electronic gadgets.

The company said, “Inspired by the iconic Kali Peeli (black and yellow) taxi art, which is unique to Mumbai, the Apple BKC creative includes colorful interpretations of the decal combined with multiple Apple products and services, making it easier for our customers to find will be available.” on Tuesday, without disclosing when the store would open. Apple’s website also includes the Apple BKC, which is one of its store options for consumers to purchase products directly. A second store is likely to come up in New Delhi, said people familiar with the development.

Apple did not respond to questions sent on Wednesday.

According to IDC data, the Cupertino, California-based multinational company has seen significant sales growth in recent years across all categories, especially iPhones. The tech giant projects sales of around 6.7 million units in 2022, 4.8 million in 2021 and 2.7 million units in 2020. The unique brand experience through Apple’s own stores is expected to appeal to the premium consumer segment in India.

“While Apple has taken time to have its retail stores in India, it makes more sense now than ever. The premium Indian consumer is maturing and spending more, especially at the premium end, making India the next big growth market for Apple over the next decade,” said IDC India, head of devices research in South Asia, Australia. Navkendar Singh, associate vice president, said and New Zealand.

Like all Apple stores globally, the Mumbai store will offer a range of products and services, including the latest iPhone models, such as the iPhone 14, MacBook, iPad, AirPods, Apple Watch and Apple TV. Apple’s trade-in program will also be available at the store for Indian consumers, using which consumers can exchange an iPhone, iPad, Apple Watch or Mac at an Apple Store for credit towards their next purchase.

Analysts said Apple’s decision to expand its owned stores in India is similar to India becoming a strategic market for the iPhone maker, where it has seen sales of its high-end smartphones rise over the past few years.

Apple has identified India as an important market as it seeks to increase market share in the premium phone category and the country emerges as a major manufacturing alternative to China, with the Indian government awarding iPhone contracts to companies such as Foxconn, Pegatron and Wistron. Incentives have been given to the manufacturers. “The strategic growth of Apple-owned retail stores is a key pillar in Apple India’s playbook to win in the market. The premium smartphone segment in India is free from macro-economic pressures and is growing in double digits, said Prabhu Ram, head of industry intelligence group, researcher at Cybermedia Research.

Apple has been selling in India for years through its authorized resellers, but direct offline retailing continues in a larger market like India, where Apple will try to replicate the famous Apple retail experience. Ram said that this would lead to further growth of the market in the years to come.