Apple is paying rent, salaries of Indian retailers over Covid-19 lockdown
The lockdown and the ban on the delivery of all non-essential items has put Indian retailers selling electronic goods at a serious disadvantage
Apple is offering extended financial support to its retailers in India by covering rent in some cases and extending hardware purchase terms in some others as the Covid-19 pandemic and subsequent lockdown carries on.
Apple retailers in India have been struggling with low sales in a volatile market especially with all non-essential items off the delivery lists. As a result, Apple has decided to intervene and help retailers offset their financial burden.
Apple has paid support to almost 500 stores in India covering two months of rent and also salaries of all store staff. The company has also offered many retailers net 60 terms. Usually retailers get net 30 terms when they order Apple hardware for resale.
According to reports, Apple has already transferred the "financial support" amount to all its "Apple Premium Reseller partners who run the large-format stores and Apple Retail outlets which are smaller exclusive outlets".
The company has also asked partners in the email to "explore and improve alternative channels to distribute Apple products, including online". Also, Apple has offered multi-brand retail stores an additional payment period of 30 days.
Apple has been working extensively to deal with Covid-19 damages. Before shutdowns were enforced, Apple offered hourly workers and retail employees across the US unlimited sick leave if they exhibited symptoms.