Apple Store seen growing to 600 locations worldwide by 2023

Posted:
in General Discussion
Gene Munster sees growth in China and India leading to a big future expansion, with Apple employing 80,000 customer service employees just at Apple Stores within five years.

Apple Store in Seoul


In a blog post for his firm Loup Ventures, longtime Apple analyst Gene Munster on Thursday tackled the Apple Store. In the post, the longtime Apple analyst argues that the Apple Store is an increasingly important part of Apple's future -- and that after crossing the 500-store mark earlier this year, it will reach 600 by 2023.

In the blog post, titled Apple Retail's Mission: Embodied Values, Munster writes that Apple's huge retail footprint gives it an "underappreciated competitive advantage," in that it's able to sell its own products in a much larger amount of stores than any of its competitors can.

After sharing some history about how the Apple Store grew and thrived as the rest of the retail industry collapsed, and how the in-store experience has evolved, from Ron Johnson's time in charge of the Apple Store division to the Angela Ahrendts era that began in 2014.

"Growth in new Apple stores will continue," Munster writes. "We expect Apple's store count to reach 600 locations in 2023, up from 511 today. The two biggest growth regions will be China (50 stores today) and India (likely announced within the next six months)." He went on to predict that Apple's retail employee count, currently at 65,000, will grow to 80,000 in five years.

Apple opened what was reportedly its 500th Apple Store in January, which was also its first in South Korea.

In the post, Munster also shares some "layers" of what he sees as important to the Apple Store's success. These include aesthetics, greeting and checkout, advice, support and inspiration. He went on to positively compare Apple's retail experience to that of other local retailers in Minneapolis.

Munster, long a much-followed Apple analyst with Piper Jaffray, started Loup Ventures in 2017. Recently, he's been looking a lot at the idea of "Apple as a Service," and how Apple's services business is going to become more important over time.

Comments

  • Reply 1 of 18
    lkrupplkrupp Posts: 6,521member
    Those of us who have been Apple fans (since 1982 for me) continue to be amazed at what the company has managed to accomplish in going on 42 years now. From a garage in Cupertino to building stores all over the world. From the first commercially successful personal computer to over a billion users of their products the ride has been both exciting and scary to witness and be part of. My own journey with Apple has been very satisfying for the vast majority of the time. Starting in 1982 with the purchase of an Apple II+, then an Apple IIe, an Apple IIGS, a Power Mac 8100, a Titanium laptop, a Bondi Blue iMac first generation for the youngest kid, a Bondi Blue G4 AGP Mac, a liquid cooled cheese grater G5 Mac (my one disappointment when the cooling system leaked and fried the power supply, but which Apple fixed out of warranty for free), a 2008 iMac, a late 2013 iMac, iPod 3rd generation, iPhone 6, iPhone 8, Watch. This Fall will be time to replace the iMac again and a new Watch might be in the budget.

    Am I a fanboy? You betcha I am.
    racerhomie3watto_cobra
  • Reply 2 of 18
    irelandireland Posts: 17,470member
    In other unrelated news, Gene probably owns many shares in Apple.
    svanthem
  • Reply 3 of 18
    Rayz2016Rayz2016 Posts: 4,443member
    lkrupp said:
    Those of us who have been Apple fans (since 1982 for me) continue to be amazed at what the company has managed to accomplish in going on 42 years now. From a garage in Cupertino to building stores all over the world. From the first commercially successful personal computer to over a billion users of their products the ride has been both exciting and scary to witness and be part of. My own journey with Apple has been very satisfying for the vast majority of the time. Starting in 1982 with the purchase of an Apple II+, then an Apple IIe, an Apple IIGS, a Power Mac 8100, a Titanium laptop, a Bondi Blue iMac first generation for the youngest kid, a Bondi Blue G4 AGP Mac, a liquid cooled cheese grater G5 Mac (my one disappointment when the cooling system leaked and fried the power supply, but which Apple fixed out of warranty for free), a 2008 iMac, a late 2013 iMac, iPod 3rd generation, iPhone 6, iPhone 8, Watch. This Fall will be time to replace the iMac again and a new Watch might be in the budget.

    Am I a fanboy? You betcha I am.
    Well, that’s certainly very impressive. 

    But me for me, the most impressive thing is that a company that was two weeks away from running out of cash went on to hit a market cap of a trillion dollars and sits on a 300 billion cash pile. 


    racerhomie3watto_cobra
  • Reply 4 of 18
    Please Apple ,open a store in Pakistan ,India or Bangladesh.
  • Reply 5 of 18
    NY1822NY1822 Posts: 544member
    how close does everyone here live to an apple store....curious 
    watto_cobra
  • Reply 6 of 18
    tallest skiltallest skil Posts: 43,399member
    NY1822 said:
    how close does everyone here live to an apple store....curious 
    2.5 hours.
    watto_cobra
  • Reply 7 of 18
    lkrupplkrupp Posts: 6,521member
    NY1822 said:
    how close does everyone here live to an apple store....curious 
    Within 30 minutes of TWO different Apple stores in St. Louis, Mo., the Galleria and West County Center Malls.
    edited August 16 watto_cobra
  • Reply 8 of 18
    claire1claire1 Posts: 483unconfirmed, member
    DOOMED. They'll be closing them all tonight. "GOING OUT OF BUSINESS" signs are going up at all of them.

    NY1822 said:
    how close does everyone here live to an apple store....curious 

    About 45 minutes.
    watto_cobrarezwits
  • Reply 9 of 18
    fred1fred1 Posts: 280member
    Please Apple ,open a store in Pakistan ,India or Bangladesh.
    And some in any of the Balkan countries . . . starting with Greece!
    watto_cobra
  • Reply 10 of 18
    fred1fred1 Posts: 280member
    NY1822 said:
    how close does everyone here live to an apple store....curious 
    A one hour flight to Istanbul. Or maybe not.
    watto_cobra1983
  • Reply 11 of 18
    Rayz2016Rayz2016 Posts: 4,443member
    NY1822 said:
    how close does everyone here live to an apple store....curious 
    That’s a very good question, sir!

    About ten minutes by car; eighteen minutes walking. Once you factor in parking, it’s easier to walk. 


    watto_cobraclaire1
  • Reply 12 of 18
    LukeCageLukeCage Posts: 162member
    NY1822 said:
    how close does everyone here live to an apple store....curious 

    I live close to 4 Apple Stores that are less than 30 minutes away from me, by car, depending on traffic of course. 
    watto_cobra
  • Reply 13 of 18
    19831983 Posts: 1,125member
    With the looming trade war with China and Apple’s problems in India, not sure if he’s right about major Apple store growth in those countries.
    edited August 17
  • Reply 14 of 18
    19831983 Posts: 1,125member
    NY1822 said:
    how close does everyone here live to an apple store....curious 
    About a 20 minute walk/5 minute drive. But it’s not a bonafide Apple store (don’t have them in my part of the world) but a local branch of a trusted Apple reseller over here, that only sells Apple products and related accessories.
    edited August 17
  • Reply 15 of 18
    rezwitsrezwits Posts: 597member
    I know I have stores, but I mean I guess if they are WORLDWIDE stores then cool. But to me I see "walk-in stores" as a dying business model. That yes they would close and close and close...
  • Reply 16 of 18
    claire1claire1 Posts: 483unconfirmed, member
    1983 said:
    With the looming trade war with China and Apple’s problems in India, not sure if he’s right about major Apple store growth in those countries.

    Better to have one foot in the door??
  • Reply 17 of 18
    No Apple store in Oslo - or anywhere else in Norway. :/
  • Reply 18 of 18
    Still hoping that Apple will open stores in Kyiv or Lviv
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