Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
57% of companies plan to spend more on site search technology this year.
Online companies in the U.K. and other areas recognize the benefit of making it easy for visitors to search for content on their web sites, and 57% say they plan to increase their spending on the technology this year, says a new report from digital marketing consulting firm Econsultancy and Funnelback, a search engine technology and services company.
“Companies are typically increasing their investment in site search because they recognize the range of benefits that effective technology can bring to their business,” the report says.
83% of respondents say effective site search leads to a better user experience, 65% said it generates more site usage and 64% said it increases sales.
The study is based on a survey conducted in April and May of more than 500 companies, including many retailers. 68% of respondents were from the U.K; 12%, from the rest of Europe; 11%, North America; 9%, other areas.
The study also notes that only 41% of respondents are satisfied with their current site search system, with 31% saying they are dissatisfied. The rest report no opinion one way or the other.
When asked to name the biggest obstacles to better site search performance, respondents give the most common reasons as: having more important development priorities, lack of spending budget, lack of clear objectives for site search and poor technology.
Nonetheless, 57% of respondents say they plan to increase spending on site search this year, while 3% plan to decrease it and 40% plan to maintain the same spending level.
Following are the spending ranges study respondents say they have been spending on site search each year, with the percentage of respondents for each range:
● £1,000 - £5,000 ($1,596 - $7,983) 31%
● £5,001 - £10,000 ($7,983 - $15,966) 7%
● £10,001 - £25,000 ($15,966 - $39,914) 5%
● £25,001 - £50,000 ($39,914 - $79,833) 6%
● £50,001 £100,000 ($79,833 - $159,665) 4%
● More than £100,000 (More than $159,665) 1%
● (No annual spending) 46%