Apple Store employees are more valuable than many may have thought.
Just how much is that genius in the window?
If it's an Apple genius, about $278 an hour. A new analysis by Horace Dediu at Asymco found that each Apple store employee brings in about $278 an hour for the Cupertino-based technology company.
The study found that there are about 250 million visits to Apple Stores every year and Apple earns about $45 in revenue per visit.
And the company brought in $320,000 per employee in the first three quarters of the year.
Below are some more findings from the study:
- The stores generate over $100k per employee per quarter. In 2010, revenue was $481,000 per employee. This year the average is around $320k excluding the fourth quarter. In 2009 the average revenue for the technology sector was $388k/yr. A retailer like JC Penney generates about $124k of revenue per year per employee.
- The revenue per visit is around $45. There are well over 250 million visits per year (222 million for first three quarters of 2011).
- The number of employees has grown in proportion to the number of visits. There is one employee for every 2,500 visits/quarter. The following chart shows the relationship between retail personnel and store visitors on a quarterly basis.
- Assuming an employee works for 360 hours per quarter, the average employee sees 6 visitors per hour or one every 10 minutes.
- As that visitor generates more than $45 of revenue, an Apple store employee creates sales at the rate of about $278/hour.