Home office rush sees Harris Technology revenue surge
- 09 April, 2020 11:14
Garrison Huang (Harris Technology)
Online IT equipment retailer Harris Technology has seen a surge in revenue from its online IT and electronics sales as Australians rush to set up home offices in the midst of the coronavirus pandemic.
In March, the company’s sales for the month increased to $1.63 million, compared to $716,000 in March 2019, the publicly listed company told shareholders.
Meanwhile total revenue for the three months ending 31 March 2020 was $3.4 million, compared to $2.3 million during the corresponding quarter in 2019.
The company has attributed these increases largely to higher demand driven by the establishment of home offices and home schooling as a result of the current government requirements designed to help stem the spread of COVID-19.
Harris Technology claims the increase is also a result of its “strategic leveraging” of the marketing and distribution power of major e-commerce platforms such as Amazon Australia.
Over the past year, Harris Technology has divested its business-to-business and non-core Wowbaby businesses, choosing to focus instead on its core IT and electronics e-commerce business.
This move has involved developing strong relationships with major online trading platforms and tapping into the market reach of those respective major platforms. At present, the company’s online presence is made up of its own website and other online platforms such as Amazon, Catch, Kogan and eBay.
“We are delighted that we are able to finalise the legacy business operations and put our focus back on the [Harris Technology business-to-consumer] business,” the company’s managing director Garrison Huang said. “Our decision to work with Amazon Australia to grow the business together has proven right.
“We are able to work with all e-commerce major platforms such as Amazon, Catch and Kogan without being seen as a competitor to these large players. We will continue to improve sales with all the major online platforms and also from our own website,” he added.
The retailer’s revenue surge comes hot on the heels of news from fellow retailer JB Hi-Fi that its sales have also been up due to the pandemic and its effects.
JB Hi-Fi said in late March that it had seen a spike in total sales over the past three months as the coronavirus pandemic sees Australians rushing to set up home offices.
The hardware and electrical retailer saw growth of 9.1 per cent growth overall in the period from 1 January to 22 March, and 8.8 per cent year-on-year in Australia during the period.
Meanwhile its sister company The Good Guys also saw 10.4 per cent sales growth, both in total and comparably.