Apple’s iPhone has a global market share of 23.4 percent, the most of any smartphone maker. Since its introduction by Steve Jobs in 2007, the iPhone has shipped at least 190 million units annually. Who are Apple’s Customers, you might be wondering? What motivates Apple’s customers to stick with the company? Read on for more information on the demographics of the Apple market.
Who is Apple’s Most Valuable Customer?
Apple offers a diverse product line. The firm provides all users with innovation, creativity, and cutting-edge technology.
Their products cater to various market segments. As a result, their customer base is determined by their products. They have a user base of over 1.5 billion people, and its market is growing with each new product release.
AirPods, Apple TV, Apple Watch, iMac, iPad, iPhone, MacBook, and other hardware items are now available as software applications such as iCloud and iLife. iMessage, iMovie, iTunes, and so on are just a few examples. So, what is the state of Apple’s customer base? Let’s have a look.
Apple’s Customer Base
Apple is only purchased by those aged 22 to 55. This group serves as a handy market for the business. However, the age dimension changes depending on the product. People in the 20-45 age bracket are more likely to utilize smart and compact devices.
Until 2011, there was no gender divide in the product market. The user ratio of males to females was close to 1:1 (53/48). However, the number of male users increased fast, and it soon reached nearly 2:1. The male to female user ratio is now 60.8 percent and 39.2 percent, respectively. As a result, the target market is spontaneously increasing in the male market.
The majority of Apple’s consumers are millennials with advanced degrees. They are focused on their careers and have a busy social life. Apple Inc.’s major target market is students, executives, managers, and professionals.
Sixty-four percent of Apple product consumers have a college diploma. Because Apple provides premium service, we may claim that the apple market is wealthier, more educated, and older than the rest of the mobile phone consumers.
Apple is mostly interested in homes or people with moderate to high income. According to research, 13% of users had a family income over $100,000.
As a result, Apple Inc’s target market is unquestionably restricted to persons with a normal to a high salary. Furthermore, a user’s average individual income is roughly $98,000, much higher than typical device owner demographics.
Apple has a market in today’s fast-paced metropolitan life. The firm has next-generation shops in 25 nations, including Brussels, Dubai, China, London, New York, and San Francisco, but they have app stores in 155 countries, similar to Apple goods.
That was made feasible by their solid e-commerce foundation. And their various approaches in various places aid in attracting a growing number of clients.
Demographic Trends in Apple’s Customer Base
- When it comes to purchasing Apple devices, males outweigh women by 2:1.
- Apple customers are typically between the ages of 35 and 44.
- One in every four persons in the 18-34 age group strongly desires to buy an Apple device in six months.
- Apple users are 94 percent more likely to be wealthy than those who do not use mobile devices frequently.
Apple has done a fantastic job with database marketing for its new products and services. The Apple app store sells more than $1.5 billion in downloads every year.
This record-setting business may still look forward to a bright future as long as its core client base is still captivated by Apple and its new goods while still being able to keep its riches; however, if the demographics of Apple’s market shift, the storm clouds that always seem to be on the horizon might turn dark and gloomy.
Why Are Apple’s Products So Popular with Businesses and Educators?
- While compared to users of laptops or desktop computers, iPad owners place higher orders when shopping online.
- iPhone users are more likely to place greater orders than Android and Blackberry users.
- Apple customers who browse for travel choices online may pay up to 30% more each night for accommodation and other travel necessities compared to other users.
- Apple users are 50% more likely than non-Apple users to have made an online trip transaction in the previous month.
- A household earning at least $100,000 accounted for one-third of Apple’s retail sales. Apple’s target market demography is overweight by four at the $125,000 wage level compared to Android devices.
- Apple device owners are more likely to be urban, have a college education, and regularly keep up with technology news.
- The average Apple target consumer will admit to being addicted to digital gadgets and relying on Apple products to keep their professional or management jobs.
Each customer must examine the main aspect with Apple is the value proposition being delivered. The iPhone, for example, costs around $50 to make, but because cellular companies no longer subsidize the phones, the average user will be forced to pay around $650 per year to upgrade. This aspect reduces the number of individuals who will benefit from having such a gadget when a family could buy four Chromebooks for less than the cost of one iPhone.
Apple’s Customer Loyalty: What Makes It So?
Apple’s client satisfaction and allegiance have consistently increased, showing how customers perceive the company. According to NPS Benchmarks, Apple’s NPS score in 2022 is a whopping 72, which is much higher than the consumer electronics industry’s average NPS score.
Understanding what led to Apple’s high NPS will help you figure out where you should focus your efforts to attain comparable results.
After all, Apple’s NPS score isn’t a mistake. It’s the consequence of a laser-like concentration on providing customers with a terrific product and an extraordinary experience – something Apple, as the world’s largest tech firm, has streamlined through the following ways:
Concentration on Reducing Purchasing Anxiety
Anxiety over whether or not something will operate as it should is one of the most common reasons buyers don’t buy anything, especially if it’s pricey or distinctive. Concerns that receiving a response from the corporation will be difficult if the product fails come into play as well.
Apple alleviates this fear with its customer care, assuring customers that they will receive complete support for any purchase device. That was brought up by The New York Times, which said that any product evaluation is meaningless unless it includes knowledge of the company’s customer service.
Customers make purchases based on the quality of the service that comes with it, not simply the quality of the product.
All of the firm’s devices come with a one-year warranty, and if they break down during that time, the company will fix them for free or replace them with a new one.
Furthermore, given Apple’s extensive retail network, purchasing from the company does not appear to be a scary experience for most individuals. People know they can make a reservation at their local Genius Bar and bring their goods in for help if they have any troubles with it.
An Obsessive Focus on The Finer Points of a Situation
Apple is focused on providing high-quality, dependable goods. The Apple firm goes over and above and pays close attention to the tiniest things.
Consumers are aware of this. If you Google “Apple attention to detail,” you’ll see a slew of stories decrying the company’s “fanatical” and “crazy” fixation with the finer points of its products.
Apple’s keen attention to detail extends beyond its goods to its packaging and associated experience. The firm doesn’t merely send the purchased things in standard cardboard packing; it goes above and above, paying just as much care to the packaging as it does to the products themselves.
You might be wondering how much attention; consider this: Apple employs a dedicated package designer who spends months opening Apple’s prototype boxes. The packaging is subjected to extensive testing to provide the client with a pleasurable experience.
Truly Unique customer Experiences
When it comes to brand distinction on the market, there was anticipation that by 2020, customer experience will transcend price and product – a prediction that came true years ago.
Apple, on the other hand, was well prepared for the change. A quick Google search reveals how many Apple clients are happy with the unique experiences the company has provided them, such as replacing a phone for free.
After all, a customer waited too long for an issue to be given a diagnosis or having to replace a month-old computer with a brand new one because a key was depressed for a college student.
Apple’s personalization doesn’t merely come in the shape of one-of-a-kind customer service. The brand’s services are typically focused on providing users with a personalized experience.
Apple Focuses on Customer Value, Not money
According to Deloitte & Touche, customer-centric businesses are 60 percent more lucrative than those that aren’t. If Apple’s primary goal had been to make more money, it would not have been as successful as they are now. Instead, they concentrated on their clients, and it paid off.Apple is now one of the most profitable and successful technology businesses globally. It controls more than 40% of the US smartphone market (46.9% in 2021) and has an incredible 87 percent brand loyalty in the US and Europe.