When the wi-fi iPad was finally released after months of speculation and anticipation, Apple sold approximately 300,000 iPads on the day of its release (including three weeks of preorders). From day one, it was apparent that the iPad was going to be a success, as the 300,000 sales took place despite the fact that the 3G iPad was to be released in less than a month. So while there were many who wanted to be first to purchase a new iPad, there was quite a substantial group of consumers who preferred to wait for the release of the new iPad 3G.
Well, Apple released its 3G version of the iPad over the weekend, and sales were remarkably high. The new iPad became available to consumers at Apple Stores around the country at five in the afternoon on Friday. By the close of shop on Sunday, iPad 3G sales had mounted to 300,000. While it took a couple of days to reach the mark that the wi-fi iPad made in only one day, it was nevertheless impressive that people were lining up as they did to purchase their new 3G iPad.
An article posted on cnet.com reported that a survey of 50 Apple Stores revealed that 49 of them were sold out of the 3G iPad by the end of the weekend. This probably comes as no surprise to those who tried purchasing a 3G iPad on Friday. Apple Stores around the country were filled to the brim with anxious consumers hoping to get their hands on a new 3G iPad. Consumers were lined up outside the stores even hours before the new iPad began selling. At many stores, Apple tried making things as comfortable as possible for consumers by providing those waiting in line with coffee and water while they waited.
Despite Apple’s efforts, not everybody left the Apple Stores on Friday afternoon satisfied. Many of the stores around the country sold out before every consumer in line could get their hands on a new 3G iPad. Those who were unable to purchase a new iPad on Friday were able to place an order, of course, but they were nevertheless disappointed.
It was surprising to some that Apple so quickly sold out of devices that are by no means inexpensive. Unlike the wi-fi iPads that started at $499, the 3G iPad’s base price is $629, and it goes up from there. Despite this price, however, there seemed to be no shortage of people who were willing to pay it. This once again shows that to at least a certain extent, Apple consumers are extremely loyal. Moreover, it demonstrates that Apple products are relatively inelastic – at least up to a certain price.
The anticipation can finally draw to a close with regards to the iPad. It seems as if people have been awaiting the release of the iPad for as far back as the memory goes, and now they are available for purchase. It will be interesting to see how the iPad 3G measures up to the expectations people have had for it over the next couple of weeks.
