Though e-commerce represents only 1% of its total sales, the web was the fastest growing sales channel for Pier 1 Imports Inc. in fiscal 2006.
Pier 1, No. 299 in the Internet Retailer Top 400 Guide to Retail Web Sites, reports that its e-commerce sales rose 45% to $14.1 million in fiscal 2006 from $9.7 million in fiscal 2005. At same time the chain retailer’s total sales declined 2.6% to $1.77 billion in fiscal 2006 from $1.82 billion the previous year.
Pier 1 is making a concerted effort to increase e-commerce sales and make the web a more integral part of its multi-channel merchandising program. In March, Pier 1 rolled out a new web feature that enables customers to check on inventory across all channels. “As part of Pier 1’s continuing strategy of cross-channel integration, this feature allows web shoppers to check the availability of any item in their local stores.” the company says in its recently filed 10K report. “This feature sets Pier 1 apart from its competitors in the decorative home furnishings industry and leverages the company’s significant store base.”
In fiscal 2006, Pier1.com received an average of 4.3 million visitors per month. On its web site Pier 1 customers can shop for over 2,300 products, purchase gift cards, create and manage bridal and gift registries, view interactive versions of newspaper ad inserts, watch the most recent TV commercials and sign up for promotional e-mail and direct mail. “This site is a significant marketing vehicle for the company while providing customers with access to Pier 1 products and services,” Pier 1 says.
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