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Harris Technology (ASX:HT8) - CEO, Garrison Huang
CEO, Garrison Huang
Source: ARNet
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  • Harris Technology (HT8) reports a spike in sales thanks to Amazon’s Prime Day promotion
  • Across June 21 and 22, the company generated $429,963 in revenue from its IT and electronics products
  • The figure beats last year’s result of $325,558 by 32 per cent
  • Amazon’s promotion is a popular event, with US$11.19 billion (A$14.77 billion) in sales globally over the two days
  • Harris Technology is up 9.09 per cent, trading at 12 cents per share at 2:00 pm AEST

IT and electronics retailer Harris Technology (HT8) has reported a spike in online sales thanks to Amazon’s Prime Day promotion.

Across June 21 and 22, the company generated $429,963 in revenue, beating last year’s record (on October 13 and 14) of $325,558 by 32 per cent.

Harris Technology has been adding products to the Amazon Australia marketplace over the past 12 months as part of its expansion beyond IT and into gaming and home appliances. It now has more than 2,000 products listed on the platform.

That push has in turn benefitted from Amazon’s growing footprint in Australia, with overall sales rising in line with the US tech giant’s expanding profile.

As of the end of March, Harris Technology had generated year-to-date revenue of around $30 million, representing a 300 per cent increase compared to the prior year.

Chief Executive Garrison Huang said: “The retail landscape has undergone an increasing preference towards online platforms, accelerated by the pandemic and very quick delivery times.

“Online marketplaces continue to grow as the convenient alternative to shopping centres, so we look forward to further growth alongside Amazon Australia which is emerging as one of the national destinations of choice for online shopping.”

Amazon’s Prime Day promotion has consistently proven to be a popular event worldwide. According to market researcher Digital Commerce 360, total sales globally on Amazon’s platform reached US$11.19 billion (A$14.77 billion) over the two days, up 7.6 per cent from the US$10.39 billion (A$13.71 billion) generated last year.

Overall, Prime members purchased more than 250 million items worldwide, with the top categories including tools, beauty, nutrition, baby care, Amazon devices, electronics, apparel and housewares.

Harris Technology was up 9.09 per cent to trade at 12 cents per share at 2:00 pm AEST.

HT8 by the numbers
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