If a mall or shopping center contains an Apple store it is given a higher valuation. The presence of an Apple Store in a mall increases the value of a mall and allows mall or shopping center owners to raise square-footage rates for other tenants. This tech giant is a landlord’s dream tenant as they are guaranteed to bring traffic. This tech giant’s impact on most malls and retail centers is far more similar to how a large department store increases traffic than a normal retailer. In the U.S., there are over an estimated 85.8-million iPhone owners, and those millions typically head to a brick-and-mortar store for service. Packed with consumers buying new products, meeting with the Genius Bar to solve tech issues, taking lessons, using the free Wi-Fi, or simply window-shopping, all of these consumers have a flow-on effect for retail sales for surrounding retail stores. Apple Stores have become the new mall anchor store, a role once held by department stores, because they draw very high amounts of foot traffic, which also benefits the smaller stores.
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