Not all online retailers do well at PPC in an e-commerce context says CNN Money:
"What didn't work for some online retailers during the past holiday season may come as a surprise to most [people]. Considering the strength and size of the Internet's largest search engine, Google (Charts) proved to be an extremely poor marketing tool for Ice.com and many of our retail friends."
We find that many companies generate 3-10 times PPC spend in sales.