The home furnishing industry remains strong, with record-breaking development of Australia's TPW

In 2020, as most retailers were forced to close their stores, people shifted their desire for shopping online. As the home furnishing industry is popular among consumers, many furniture retailers have made a lot of money from it. Temple & Webster is a good example.

Net profit reached US$14 million

Temple & Webster is an Australian online homewares and furniture retailer headquartered in Sydney. It was founded in 2011 and listed on the ASX in December 2015. TPW has hundreds of suppliers and more than 180,000 products on its platform.

Unlike other platforms, TPW was originally a membership-based sales website , but in 2016, it became an open retailer after merging the Wayfair brand. In addition, TPW adopts a direct shipping model , sending products directly from suppliers to customers, shortening delivery time and reducing inventory requirements.

In fiscal 2020, TPW's revenue grew 74% year-on-year to $176.3 million , and active customers grew 77% to nearly 500,000 . Net profit after tax jumped from less than $4 million in fiscal 2019 to nearly $14 million in fiscal 2020 .

TPW said that in 2021, it will make greater investments in areas such as technology and data, brand awareness and private label products.

Share prices of several Australian online businesses surge

Data shows that 2020 was a record-breaking year for TPW, with its stock price soaring 300% in 2020 and setting a record high of $14.05 in October 2020 .

TPW 's share price wasn't the only listed retail company to rise last year amid a surge in online shopping . In October 2020 , Australian e-commerce company Kogan's share price soared to a new record high of $25.57.

In addition, plus-size womenswear company City Chic Collective also hit a new high of $4.24 earlier this week. In 2020, it has also strengthened its digital business, recently expanding its business into the UK market through the acquisition of the e-commerce of popular streetwear brand Evans .

The IPO value of many Australian companies has doubled, which just shows the rapid development of e-commerce and the development potential of e-commerce companies in Australia. Sellers can pay special attention to it.

Australia

TPW

Record-breaking