Apple has finally opened its first physical store in India, a country that has been a long-awaited destination for the tech giant. The store, located in Mumbai’s upscale Bandra Kurla Complex, was inaugurated by Apple’s CEO Tim Cook on April 18, 2023, amid much fanfare and excitement.
The store is Apple’s first direct retail presence in India, where it has previously relied on third-party resellers and online platforms to sell its products. The store will offer the full range of Apple’s devices, accessories, and services, as well as provide customer support, training, and workshops.
The opening of the store is a significant milestone for Apple in India, the world’s second largest smartphone market with over 1.3 billion people and a growing middle class. India is also one of the fastest growing markets for smartphones, with an estimated 200 million units sold in 2022¹.
Apple has been eyeing India as a key market for its growth, especially as its sales have slowed down in China and other mature markets. However, Apple has faced several challenges in entering India, such as high import duties, strict local sourcing rules, and fierce competition from cheaper rivals such as Samsung and Xiaomi.
To overcome these hurdles, Apple has taken several steps to boost its presence and appeal in India. These include:
– Launching an online store in 2020 that offers customized products, trade-ins, financing options, and contactless delivery.
– Starting local production of some iPhone models in 2017 to avoid import taxes and meet local sourcing requirements.
– Reducing the prices of some iPhone models and offering discounts and cashback schemes to attract more customers.
– Expanding its service network and partnering with local carriers and e-commerce platforms to increase its distribution channels.
– Developing India-specific features and content for its devices and services, such as Siri support for Hindi, Apple Music playlists for Bollywood songs, and Apple TV+ shows featuring Indian stars.
According to analysts, Apple’s efforts have paid off, as it has seen a surge in its sales and market share in India. According to Counterpoint Research, Apple shipped 3.2 million iPhones in India in 2022, up 60% from 2019. Its market share also rose to 4% in the fourth quarter of 2022, up from 2% a year ago.
Apple’s new store in India is expected to further boost its brand image and customer loyalty in the country. The store will also showcase Apple’s innovation and design prowess, as well as its commitment to environmental and social responsibility. The store is powered by 100% renewable energy and features a solar roof, rainwater harvesting system, and native plants. The store also employs over 150 staff members who speak 10 languages and include artists, musicians, and photographers.
Cook said that he was thrilled to open Apple’s first store in India and that he was looking forward to meeting more customers and developers in the country. “India is an incredible place with so much talent, creativity, and passion. We are monored to be here and to be part of this vibrant community,” he said.