With Apple it goes beyond that and is more emotional. Apple is a premium brand. Apple makes affordable but premium products, which, by the nature of the term premium, are more expensive. It’s official now. With Apple, it’s all about ‘love.’
Tim Cook Said So
Assuming you just came from skiing the Himalayas and haven’t caught up on the news, Apple Pay is dying because so many retail stores are banning it entirely.
Why? It gets complicated, but let’s assume money is involved, and those like Walmart, K-mart, Sears, Best Buy, CVS, and many others prefer money over happy customers.
Apple Pay is probably doomed. It only works on Apple’s new iPhone 6 models. It’s too easy and too secure.
When asked about the risk retailers take by limiting payment choices at checkout, Apple CEO Tim Cook said, “It’s a skirmish… Merchants have different objectives sometimes. But in the long arc of time, you only are relevant as a retailer or merchant if your customers love you.”
Well, that settles it. Relevancy comes from love. That might explain why Walmart, K-mart, Sears, and Best Buy have been rocked by sales and profit problems in recent years.
After all, who loves Walmart (besides politicians and townfolkd in Bentonville, AR) more than they love Apple?
Cook is on to something, though. We buy what we buy where we buy for a variety of reasons; price, location, convenience, quality, and so on. That includes the products from Apple and Walmart and their spawn.
Apple Pay is a game changer, and those trying to change the game in their favor– Walmart-backed MCX and the CurrentC pay system that competes with Apple Pay, have forgotten about the customer experience. We love using Apple products because the experience from end to end– Disneyland-esque though it may be– is a good one.
Walmart? Not so much. CurrentC even less so.
Now, as to the Apple Pay is losing meme, Cook pointed out that in 72-hours after launch, Apple Pay is the number one mobile payment system in the U.S. and is doing better than CurrentC, which is the payment system designed by Keystone Cops offspring.