It's certainly possible the Wannamaker said it.
Although Fred Shapiro, the quote guru, only found it attributed to Wanamaker from 1958, I found a 1919 cite which agreed.
Winona Echoes, a book of "Notable Addresses Delivered at the Twenty-Fifth Annual Bible Conference, Winona Lake, Indiana, August, 1919."
The address was made by a preacher. "Salesmanship of Preaching" by Rev. Roy L. Smith, D.D.
Quote:
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John Wanamaker once said, "I am convinced that about one-half the money I spend for advertising is wasted, but I have never been able to decide which half
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Why does it not surprise me that a preacher perhaps helped to spread this potential UL?
Sam "half my time is wasted chasing things" Clements