Yes, think everyone is frustrated with this one, especially the time it took to complete the merger and bring the new team in. Hope we continue to see a clean out of the old board / management who clearly couldn't run an e-commerce business at a profit!
Paul - thanks for your summary, I haven't had time to track numbers, would be good if they continue to track in a positive direction, albeit I am expecting limited uplift in the short term anyway.
For me, this is not so much a turnaround story, but a fresh start with good e-commerce operators at the helm, who need to maintain the good work they were already doing with HT and drive growth in the new channels they control of YHD and WB. Christmas is an important period, as it is for any retailer, they will learn a lot about the businesses over this period, but the key for me is keeping the customers happy and bringing them back as repeat customers!!
HT / Anyware
I don't know a lot about the business previously, but lets hope they keep doing what they are doing, increase their awareness (ASX listing should help generate exposure / press) in the industry and deliver solid medium term growth in revenue / cashflow / EBIT.
YHD
I still view this as a very profitable channel opportunity if they can get it right. I also see some synergies between HT and YHD, office furniture or technology furniture (TV cabinets) being an example which can almost be retailed across both platforms, at no additional cost. See the network effect comments below, they need to maximise this where possible.
Important to create a really positive experience for customers, even targeting people who haven't made a purchase in 6+ months back with an offer, to show them its changed now and shouldn't encounter previous issues.
WowBaby
Appears to have been moved over to the YHD format, looks good.
See this as a big growth opportunity, they just need to get infront of their target customers.
Here is a question, is there a way to create a list of presents you want for a baby shower? Like a wedding registry, but for a baby shower? Then you send the list to your friends and they get directed to buy them through WB? Maybe the MyWishList feature does this, but would be good to see that better promoted!!
The Network Effect
This is one element that SHP talked up and never delivered on, HT8 need to drive this forward.
I noticed that the Harris Technology website advertisers its 'sister websites'.
That is great, but my comments would be that it took me a long time to see that and the YHD and WowBaby logo's don't really pop! Also more frustratingly, when you click through to the information page, clicking the link for either page takes you away from HT and to the other pages.....why do website owners allow this to happen?!? Why would you ever create a link on your own website that drives someone away from your own website...you spend so much time getting them to the website and even though its a sister website you just let them move on with ease. This is pretty easy to fix by ensuring the links open in a new tab, while keeping the HT site open as well.
Further to this, keen to see YHD linking to WB and HT and WB back to YHD and HT, this doesn't appear to have occurred yet, unless I have missed it.
Social Media
I noticed the YHD Instagram account is back up and active in the past few weeks, which is good to see, along with Twitter and Facebook. Given the numbers involved (very low) and the fact that no one in the business seems to understand how to use it effectively, I would encourage them to leave Twitter inactive for the time being and focus on great content / engagement across FB and Insta for YHD....this is where they can reach their core/target audience, not on Twitter, focus on the 2 platforms and do them really well, generating high engagement and trust!!
Will be watching closely....
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