A strong wind and a heavy spongy surface gave attackers an advantage over defenders resulting in 90 minutes of thrills and goalmouth action.
Jake Reed, Malachi Linton and Jacek Zielonka were rampant for the Trawlerboys.
In an explosive start Matt Foy's first-minute header seemed destined for the top corner until Luis Tibbles flew across his goal to tip the ball over. Then, on seven minutes, Ben Seymour-Shave was brought down in the area but Tibbles again came to the Trawlerboys' rescue with a superb diving save to clutch Robbie Parker's well-hit spot-kick.
This kick-started Lowestoft's game and Reed had already gone close before he again turned Tom Wood only to be brought down by the St Ives central defender. Linton stepped up to confidently convert the spot kick.
Lowestoft were looking the much more dangerous side at this point and were close to adding a second with Reed and Linton combining down the right and from the cross Zielonka's diving header clipped the outside of the post.
Lowestoft needed a second goal before the break and it duly arrived in added time. Zielonka's flag kick was returned into the middle by Adam Tann for Connor Deeks to hit home from the edge of the area.
If St Ives were hoping to take advantage of the conditions to get back into the game those hopes were extinguished as Lowestoft added two goals in a minute shortly after the restart.
In the 52nd minute Zielonka and Josh Curry combined down the left and the latter's excellent far-post cross picked out Miguel Lopez who headed home from close range.
Straight from the restart Lowestoft won the ball which was played beyond the St Ives defence for Reed to race through, round the keeper and slide into an empty net.
With a four-goal advantage Lowestoft switched off, allowing Wilson to pull two goals back for St Ives in the 56th and 64th minutes, but hopes of an unlikely fightback were denied as Lowestoft re-imposed themselves with Reed being denied by keeper Bradley Lashley and Linton blazing over an open goal from six yards before Lowestoft added their fifth with Reed heading home Zielonka's free-kick.
St Ives Town: Lashley, Phillips, Toseland, Osei-Bonsu, Wood, Powell, Seymore-Shove, Parker, Foy, Curtis, Wilson, Subs not used: Jackson, Ward, Snaith, Clifton, Bailey
Lowestoft Town: Tibbles, Ruffles (J Wilkinson 73), Curry, Deeks, Cole, Tann, Lopez, Fisk (Richardson 83), Reed, Linton (M Wilkinson 80), Zielonka, Subs not used: McIntosh, N'Buque
Referee: J Woolmer
Att: 162
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