H&M to (Finally) Launch Online Store in U.S. Next Month

by Christopher Freeburn | July 30, 2013 8:58 am

H and M 300x199 H&M to (Finally) Launch Online Store in U.S. Next Month[1]After at least a number of delays, discount Swedish retailer Hennes & Mauritz says it will launch its long-anticipated U.S. retail website next month[2].

While Americans haven’t been able to shop at H&M online, many have been able to visit its stores. The company operates more than 300 retail outlets across the U.S. ┬áStill, the website will allow the retailer to reach consumers in 18 states that don’t have H&M stores, Bloomberg notes.

H&M’s existing U.S. website, which doesn’t permit purchases, already generates 20% of the company’s web traffic, suggesting that the launch of e-commerce operations in the American market could quickly boost sales. It’s U.S. brick-and-mortar operations posted $1.9 billion in sales last year, making the U.S. the company’s second biggest market.

By delaying the launch of U.S. online sales for so long, the H&M has allowed rivals to make substantial headway among American online shoppers. Urban Outfitters (URBN[3]), a domestic retailer, now derives a quarter of sales from catalog and online shopping. It hopes to increase online sales to 50% of revenue within four years.

H&M announced plans to launch its U.S. online store in June[4], after posting disappointing quarterly earnings.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/05/H-and-M.jpg
  2. will launch its long-anticipated U.S. retail website next month: http://www.bloomberg.com/news/2013-07-28/h-m-aiming-to-catch-zara-with-delayed-american-web-push.html
  3. (URBN: http://studio-5.financialcontent.com/investplace/quote?Symbol=(URBN
  4. plans to launch its U.S. online store in June: http://investorplace.com/2013/06/hm-to-launch-online-sales-in-u-s-this-summer/

Source URL: http://investorplace.com/2013/07/hm-to-finally-launch-online-store-in-u-s-next-month/
Short URL: http://invstplc.com/1fzQT0u