In its second-largest acquisition, Amazon buys the company for $970 million.
Retailers are benefiting from web sales with more products and new customers, CIOs tell Retail Systems 2001.
The Internet as a sales channel is alive and well, retailer CIOs told Retail Systems 2001 Tuesday. “The Internet is an add-on to the store,” said Brian Light, executive vice president and CEO of Staples Inc. “We want to maximize our share of wallet. We feel we can drive people into the stores through the Internet.” Light was a member of the panel discussion “The Dot Has Settled…Now What?” Other members of the panel discussed how the Internet has increased sales and brought in new customers. The Gap, for instance, has extended its product line on the web. Gap.com sells large sizes and maternity fashions that it doesn’t sell in the store, Ken Harris, CIO of Gap Inc. said. “The web site offers greater value than just replicating the store online,” he said.
In another example, Saks Inc. is attracting new customers with its web site. “This has allowed us to reach customers not geographically located near a store,” said Robert Dykman, CTO of Saks Direct.
“The Internet is a huge important component whether to employees, suppliers or customers,” said Brian Kilcourse, senior vice president and CIO of Longs Drug Stores, who moderated the panel discussion.