Temple & Webster’s Revenue Soars as Online Boom Continues

Temple & Webster is continuing to enjoy the journey of online adoption, reporting a huge 118 percent increase in its HY21 revenue. In its HY21 unaudited results report, the pureplay home and decor retailer is profitable, with strong top-line growth and a debt-free balance sheet.

According to the Australian Bureau of Statistics, the home and garden categories have grown by 21 percent in-store and online from July to October 2020. Furthermore, the NAB Online Sales Growth report shows Homewares & Appliances categories have increased by 63 percent.

Temple & Webster is currently reporting growth of 133 percent from July to October.

Its EBITDA has increased by 556 percent, with massive growth across all categories, channels and demographics, the company reported.

Temple & Webster is now reporting almost double the revenue for HY1 FY21, compared to the entirety of HY1 FY20.

Despite retail sales slowing in December and onwards, the retailer is continuing its successful expansion plans and increasing its active customer base to 678,000, resulting in growth of 102 percent YoY.

The expansion of its brand awareness, including national TV campaigns, which has aided in the significant lift in its active customer base.

Its revenue per active customer has also increased by six percent, from $380 in H1 FY20 to $401 in H1 Fy21, due to a higher repeat purchase rate.

Its B2B division – T&C (Trade and Commercial) – also increased by 89 percent, which focuses primarily on furnishing hospitality and residential developers. This aims to drive and capitalise on the domestic tourism boom following the pandemic.

Australian shoppers aged between 24-39 are entering Temple & Webster’s core demographic, which newly-formed online habits have likely resulted from the pandemic.

Taking advantage of the online boom in Australia, Temple & Webster plans to increase its digital capabilities with data, personalisation, AI and Augmented Reality.

Moreover, the retailer will continue increasing its brand awareness from 55 percent to 80+ percent in the next few months, via digital and non-digital channels.

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