A Booming Industry
Experimac operates within the technology field in a sector with the potential to grow exponentially. In 2014, about 302 million computers were sold worldwide, generating about $304 billion in sales revenue. Nearly 7 billion mobile phone subscriptions were purchased worldwide by May of 2014, nearly one for every person on the planet. With that type of consumer base, Experimac’s products and services nearly sell themselves.
Benefits of Offering Used Products
Experimac specialises in selling used products, particularly used Apple products. The benefit of offering used products is that the products can be sold at a price point that is accessible to a much wider range of customers. When customers enter stores that sell new computers, Smartphones, and tech equipment, only one out of every hundred or so people actually purchase something because of the high price point. The close rate at Experimac stores is much higher, as most customers are there to buy.
Why the Apple Products Focus?
Apple products retain their value much better than most other brands. Apple customers are often pleased with the products that they purchase, so they remain loyal to the brand-though they are not always able to afford brand new Apple products. Experimac offers customers a unique middle ground in which they are able to remain loyal to the Apple brand, stay current with operating systems and updates, yet pay a fraction of the price that they might pay at a shopping centre or a competitor’s store.
Market for Repair Services
The market for repair services for Smartphones, tablets, and computers is huge and is only growing. Americans had spent roughly $23.5 billion repairing iPhone screens as of September 2014 and about one quarter of iPhone users had cracked their screen at one time or another. Another 15 percent were using a cracked iPhone at the time of the study. When an Experimac store is opened, a convenient location to receive a needed service is introduced into the area.
Experimac differentiates itself from its mall and big box competitors by offering customers personal consultations. A commitment to developing long-lasting relationships with customers is woven into the fabric of the Experimac business model. As a result of Experimac’s concentration on high quality customer service, many customers become repeat customers, looking to Experimac whenever a new tech product or service is needed. Experimac customers are also highly likely to recommend the store to friends and family members, helping to drive increased revenues to stores.