Temple & Webster has not slowed down during the pandemic, with a record year for revenue, profit and customers.
For the period ending 30 June 2021, revenue was up 85 per cent year on year to $326.3 million, while active customers were up 62 per cent to 778K.
Temple & Webster CEO, Mark Coulter, says once again the online furniture and homewares retailer has delivered a record result.
“Revenue grew 85 per cent across the year driven by strong growth in new and repeat customers and average order values,” he says.
“While lockdowns during FY20 and FY21 have accelerated the underlying shift from offline to online, pleasingly we continue to see strong growth even when comparing against Covid impacted numbers.”
Indeed, revenue per active customer increased 12 per cent due to customers repeating more often and spending more when they do. The retailer also launched iOS and Android apps scoring an average 4.8 (out of 5) rating from up to 4,000 reviews.
An increase in discretionary income due to ongoing travel restrictions and the strong adoption of online shopping is also boosting 2022 profits for Temple & Webster, with year on year revenue growth of 39 per cent for the period 1 July to 24 July 2022.
“While the start of FY22 has been difficult for many Australians, we remain focused on delivering a great experience for our customers, built around the biggest and best range of furniture and homewares, combined with inspirational content and services and a great delivery experience and customer service,” says Coulter.
“We will continue our reinvestment strategy, investing into growth areas of the business to grow our online market leadership position with the ultimate goal of becoming the largest retailer (online and offline) for furniture and homewares in our home market.”
