Despite pandemic restrictions being lifted, the working-from-home trend is set to continue well into 2021 and beyond, leading Harris Technology (ASX: HT8) to link up with MYSALE Group for technology product distribution through their network of eCommerce lifestyle channels.
The deal will see Harris Technology list more than 1,000 of their popular technology, IT and gaming products on MYSALE’s Australian sites including ozsale.com.au, oo.com.au, buyinvite.com.au, DealsDirect.com.au and Topbuy.com.au. At present, the majority of MYSALE’s sites focus on home, clothing, beauty and lifestyle products but the introduction of high-performance home offices brought upon by the pandemic, has seen many Australians upgrade their existing tech and appliances for their homes.
“We are excited to gain listings on all MYSALE Australian eCommerce stores which have a strong marketplace presence across a variety of household goods,” said Harris Technology CEO, Garrison Huang.
“Additionally, their strong position particularly amongst female customers in Australia enables Harris Technology to increase our product availability to MYSALE’s customer base.
Operating eCommence sites around the world, MYSALE’s strongest presences are in Australia, New Zealand and South-East Asia. With their focus on discovery-based shopping, the Group’s expansion into tech products will be powered by Harris Technology which offers MYSALE customers with instant access to a detailed range of home office products at discounted prices when browsing products for other rooms in their homes.
“Harris Technology is a very strong technology retailer with a rich history servicing the Australian SMB customers,” said MYSALE CEO, Carl Jackson.
“MYSALE is excited to enter into a partnership with Harris Technology to add more than one thousand technology product offerings immediately to 20m+ customers on our database.”
Under terms of the partnership, Harris Technology will integrate their product lines into MYSALE’s various online sites. Revenue will then be dependent on customer uptake with MYSALE to retain a margin on sales in line with industry standards.
Given MYSALE’s strong market presence within the lifestyle market, one which Harris Technology does not actively market to, the deal offers distribution to new audiences without new advertising spend. It also comes at a time when home office upgrades are common leading into the End of Financial Year, as has been seen amongst other ASX-listed tech retailers.
While this partnership is only for distribution through MYSALE’s Australian sites, Huang has previously mentioned plans to expand Harris Technology internationally in the future.
For the Half-Year ended 31 December 2020, Harris Technology reported a 365% increase in year-on-year revenue to $19.3 million with net profit after tax up 741% to $1m.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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