Tapping their network of international vendors, online retailer Harris Technology (ASX: HT8) have succeeded where pharmacies and supermarkets have failed, securing commercial quantities of rapid antigen test kits (RATs) that they have listed through their eCommerce channels at discount prices.
The RATs have been added to their Pro-Hygiene division which was established at the start of the pandemic. The addition of RATs is just one example of Harris Technology’s ability to move quickly and source products most in demand to meet public needs.
“Pro-Hygiene was established as a new business category within the Harris Technology product portfolio in early 2020, which has seen products like face masks, cleaning wipes and hand sanitiser become common basket items within recurring orders,” said Harris Technology CEO, Garrison Huang.
“We believe rapid antigen tests will follow a similar trend for the medium term.
“We will monitor the demand for RATs and continue to source them whilst in demand, following the same strategy employed previously for Pro-Hygiene products.”
The RATs secured have already been approved by the Therapeutic Goods Administration (TGA) for sale in Australia which is one of the biggest hurdles faced by retailers with the TGA having only approved 23 manufacturers. This has resulted in massive shortages across Australia where pharmacies and supermarkets have massive signs across their shopfronts saying they have sold out of rapid antigen test kits.
The JusChek SARS-CoV-2 kits have now been listed on Harris Technology’s website for online purchase with next-day despatch, as well as on Amazon Australia where they are the Number 1 ranked seller. The RAT listing reached #1 Best Seller status for the healthcare category within just 24 hours of being listed online where customers can buy 5 for $50 with free delivery.
Unlike those that had secured RATs last month and used the opportunity to price gouge, Harris Technology is offering the RATs at discounted prices, making them accessible to all Australians who can have them delivered to their door.
Highlighting the ongoing demand for RATs going forward, the Victorian Government last week commissioned the construction of a purpose-built RAT manufacturing facility to meet long-term demand. That facility will be capable of manufacturing 1 million RATs per month but it is not expected to come online until April 2022 while more workplaces and schools require negative tests to be returned periodically.
Rapid antigen tests can be purchased from the Harris Technology online store, Amazon and eBay.
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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