Vistaprint 2012 Annual Report Download - page 19

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Item 1A. Risk Factors
We caution that our future results may vary materially from those contained in forward-looking statements
that we make in this Report and other filings with the SEC, press releases, communications with investors and oral
statements due to the following important factors, among others. Our forward-looking statements in this Report and
in any other public statements we make may turn out to be wrong. These statements can be affected by, among
other things, inaccurate assumptions we might make or by known or unknown risks and uncertainties or risks we
currently deem immaterial. Many factors mentioned in the discussion below will be important in determining future
results. Consequently, no forward-looking statement can be guaranteed. We undertake no obligation to update any
forward-looking statements, whether as a result of new information, future events or otherwise.
Risks Related to Our Business
If we are unable to attract customers in a cost-effective manner, our business and results of operations
could be harmed.
Our success depends on our ability to attract customers in a cost-effective manner. We rely on a variety of
methods to draw visitors to our websites and promote our products and services, such as purchased search results
from online search engines, e-mail, direct mail, advertising banners and other online links, broadcast media, and
word-of-mouth customer referrals. If we are unable to develop or maintain effective means of reaching micro
businesses and home and family customers, if the costs of attracting customers using these methods significantly
increase, or if we are unable to develop new cost-effective means to obtain customers, then traffic to our websites
would be reduced, and our business and results of operations would be harmed.
Purchasers of micro business marketing products and services, including graphic design and customized
printing, may not choose to shop online, which would prevent us from acquiring new customers that are
necessary to the success of our business.
The online market for micro business marketing products and services is less developed than the online
market for other business and home and family products, and our success depends in part on our ability to attract
customers who have historically purchased products and services we offer through offline channels. Specific factors
that could prevent prospective customers from purchasing from us as an online retailer include:
• concerns about buying graphic design services and marketing products without face-to-face interaction
with sales personnel;
• the inability to physically handle and examine product samples;
• delivery time associated with Internet orders;
• concerns about the security of online transactions and the privacy of personal information;
• delayed shipments or shipments of incorrect or damaged products; and
• the inconvenience associated with returning or exchanging purchased items.
If our long-term growth strategy is not successful or if our financial projections relating to the effects of our
strategy turn out to be incorrect, our business and financial results could be harmed.
Our long-term investment strategy, originally announced in July 2011, presented our long-term investment
and financial strategy and associated financial projections relating to the growth of our business over the next five
years. We may not achieve our announced objectives, and our investments in our business may fail to affect our
Form 10-K