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PWC reports that 52% of bricks-and-mortar retailers are selling on the web; another 22% plan to do so within a year. Of those with web operations, 60% plan to invest more in the web this year than last.
More than half of retail chains are selling online today and another fifth plan to have commerce-enabled web sites within a year, says a new study on the e-retailing industry from PricewaterhouseCoopers. The study-The State of Retail Technology 2001-was released today at the Retail Systems 2001 show in Chicago, which started today and runs through Thursday.
PWC reports that 52% of bricks-and-mortar merchants are selling on the web, 19% plan to within a year, 22% are not selling on the web because of concerns over return on investment but may do so in the future and 7% have no web plans. “Concerns about ROI are valid,” PWC consultant Larry Bagwell says in the report. “Few success stories have emerged-at least from a profitability standpoint. In fact, the biggest reason surveyed retailers gave for not selling online is that the required investment could not be justified based on a projected revenue/profit model.”
Retailers selling on the web, though, are committed to the channel. Nearly 90% plan to spend more on their web channel this year than last or to spend at least as much. PWC reports that 60% of merchants selling on the web will increase their investments this year over last and 27% will invest as much; 10% will invest less and the remaining 3% gave “other” answers.