Can Honestbee Fly Again?: From Rapid Regional Expansion to Closure and Mounting Debt
Technology is reshaping the grocery shopping experience. This case study analyzes the journey of Honestbee, an online grocery and food delivery company, one of the forerunners of this digital transformation of modern grocery retail. Founded in Singapore in 2015, Honestbee has expanded from online pl...
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Veröffentlicht in: | Academy of Asian Business Review, 6(1) 2020, 6(1), 11, pp.147-175 |
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Sprache: | eng |
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Zusammenfassung: | Technology is reshaping the grocery shopping experience. This case study analyzes the journey of Honestbee, an online grocery and food delivery company, one of the forerunners of this digital transformation of modern grocery retail. Founded in Singapore in 2015, Honestbee has expanded from online platform services to brick-and-mortar verticals with Habitat - a supermarket, specialty fresh grocer, online fulfilment centre, retail innovation hub and experiential dining destination in Singapore.
Organizational management which culminated in cash flow issues are among the biggest obstacles that Honestbee faces as underpins the recent negativity publicity as well as cutting of global staff and suspension of some overseas services. Nevertheless, in spite of the current financial obstacles, Honestbee is still poised for success in the region as it tightens its business focus on Singapore, Taiwan and the Philippines with plans to not only to extend new retail through Habitat to other overseas markets but also to strengthen inventory management solutions as a promising vertical.
The future of retail is not just digital but involves a reimagination of the current shopping experience. In this regard alone, Honestbee merits study. KCI Citation Count: 0 |
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ISSN: | 2384-3454 |