Isolation item earns Aussie $150k in 7 mins
While coronavirus has had a catastrophic effect on many businesses, the sudden change to everyday life has meant Aussies are spending their cash in unexpected places.
Just ask Matilda Murray, who co-owns fitness apparel brand Stax with Don Robertson.
She said demand for comfortable clothing that can be worn at home and during permitted exercise has boomed, with a pre-sale for the brand's next activewear collection making $150,000 in just seven minutes.
"Last night we launched our secret VIP sale which was going to be open for first 100 orders or 30 minutes only," Ms Murray told news.com.au. "We ended up with 1000 orders in under seven minutes and had to close it. We generated $150,000 when our goal was $30,000," she said.
Stax's seamless collection, which comprises of tights, bike shorts and sports bras, launched for general sale at 9am this morning and sold out out in one minute, showing demand for this style of clothing during a time when many Australian's were reining their spending in.
However, COVID-19 did prevent Stax from getting any of its stock for weeks, Matilda said.
"COVID hit us hard before it became a worldwide pandemic as our factories in China were forced to close for over six weeks, leaving us without product for six to eight weeks, an extremely scary and uncertain time for us as a company," she said. "Thankfully, when our factories returned to work and product arrived our online sales increased."
The brand is a firm favourite among Aussie reality stars and influencers, with MAFS star Martha Kalifatidis telling followers in an Instagram Stories recently they were the "best leggings I have ever worn".
"I compare everything to Lululemon and these are my favourite," she said.
Another item, a pair of black tights, is in such demand with customers, Matilda said it had a waitlist, with the average customer spend increasing from $120 to $160.
Stax isn't alone in seeing an increase from customers, with Bondi-based brand Nimble also reporting a spike during lockdown.
While its stores have been forced to close, seeing physical sales "wiped out almost overnight", founders Vera Yan and Katia Santilli said the brand adapted and they are now seeing items sell out through online sales alone.
"Our new Spritz set launched last Thursday and is already the top seller for the month," Ms Yan told news.com.au.
"Our Adventure half-zip jacket has sold out twice this season with over 1500 people on the waiting list for our next drop, and our new winter jackets - the puffers and cotton sweats - are also tracking well since launching this month as customers look for layering pieces for the cooler months."
Ms Yan believes people are willing to spend in this area because they are "investing more in self-care and looking to activewear as a great motivator for getting active".
"Many of us are fitting in workouts, step challenges or walks during the day so staying in activewear makes this easier," she said.
"Our customers are gravitating towards our high-waisted tights which are super comfortable."
Jaggard - which is a fitness brand co-owned by AFL WAG Bec Judd and friend Michelle Greene - have experienced similar positive effects of COVID-19.
"We have seen many first-time customers in the last three weeks and the majority of purchases have been garments that you can both exercise and comfortably work in," Ms Greene told news.com.au.
"Sweaters, track pants and tights continue to sell very strongly and show no signs of slowing down."
Like others, the brand initially experienced a roadblock when major partners shut down temporarily, leaving them with far more stock than usual to sell through social media and digital channels.
"However, the positive was we didn't dwell on that and instead looked at ways we can engage our community with really strong, positive and focused messages and show that together we can stay fit and healthy during this time," she said.
"This led to creating our first online studio which has been a lot of fun and rewarding for our team."
Originally published as Isolation item earns Aussie $150k in 7 mins