How Steve Jobs saved Apple with the online Apple Store

In the late 1990s, Apple was struggling to find a viable retail presence as there were no bricks-and-mortar Apple Stores. The company's sales were being ignored due to big chain stores and specialist dealers pushing other products that yielded higher commissions. Steve Jobs recognized the need for an online store, as it would allow Apple to bypass resellers and sell directly to customers.

The online Apple Store officially launched on November 10, 1997, and has been running ever since, except for occasional temporary closures to promote new product launches.

Dell had already established a successful online store in 1996, which became a benchmark for ecommerce sites at the time. Dell's online store was highly successful, with a daily revenue of $1 million by December 1996, and had cut out the need for resellers, allowing the company to maintain a minimum inventory of completed computers. Apple had to be aware of Dell's success and develop its own online store to compete.

The launch of the online Apple Store in 1997 proved to be a crucial component in Apple's survival and resurgence. In its first 30 days, the store generated $12 million in revenue, which is equivalent to approximately $25 million in today's money. This success showed potential buyers that Apple could deliver on its promise of easy-to-use machines, and it ultimately set a new standard for online ecommerce.

Additionally, the online store's success helped Apple survive the 1990s and contributed to the eventual establishment of physical Apple Stores in the 2000s.