Apple brought in $4.6 billion in sales in the first three months of 2011, an 80% sales growth from a year ago, according to a report by USA Today; with numbers like these, it’s not surprising that Apple is now the fastest growing retailer in the United States. Increasing demand for popular Apple products such as the Mac, iPhone, and iPad has driven sales, especially in brick-and-mortar Apple Retail Stores.
The iPhone in particular has been a major contributor to Apple’s tremendous sales growth, as the smartphone saw its sales numbers increase by 113% this year over last. The iPhone’s expansion to the Verizon Wireless carrier in February has created a “bubble effect,” leading to a dramatic increase in sales of the smartphone for a short-lived period of time.
Apple’s sales are “mind-boggling,” says David Berman, a retail expert. “People don’t realize how much money has been diverted to Apple.”