Subject category:
Entrepreneurship
Published by:
Asia Case Research Centre, The University of Hong Kong
Version: 24 April 2024
Length: 15 pages
Data source: Field research
Abstract
At the height of the COVID-19 crisis, Terence Hon, co-founder of Hong Kong's first sustainable supermarket, GreenPrice, had the option of selling pandemic necessities that were in high demand in addition to his core business of selling short-dated products. Having founded the venture several years ago with teammates Allison Chan, Ben So, and Cherissa Hung when they were still university students, Terence and his co-founders pondered whether they should accept an offer that was tempting for its high margins, even as they needed to determine whether it contributed to their business objectives and their social mission as the first supermarket chain in Hong Kong that sold short-dated products that otherwise ended up in landfills. In addition, while GreenPrice had faced the challenge of high rents in the expensive, real estate-driven city, the ongoing health crisis caused vacancies in shopping malls to go up, resulting in a significant decrease in shop rental fees. Terence and his cofounders needed to make strategic choices on whether to enter the market for pandemic products while determining the optimal locations for expanding their retail network and the customer segments that they should target.
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Geographical setting
Region:
Asia
Country:
Hong Kong
Featured company
GreenPrice
Employees:
51-200
Industry:
Retail and wholesale
Featured protagonist
- Terence Hon (male), Co-founder
Subject category:
Entrepreneurship
Published by:
Asia Case Research Centre, The University of Hong Kong
Version: 23 July 2024
Length: 17 pages
Data source: Field research
About
Abstract
At the height of the COVID-19 crisis, Terence Hon, co-founder of Hong Kong's first sustainable supermarket, GreenPrice, had the option of selling pandemic necessities that were in high demand in addition to his core business of selling short-dated products. Having founded the venture several years ago with teammates Allison Chan, Ben So, and Cherissa Hung when they were still university students, Terence and his co-founders pondered whether they should accept an offer that was tempting for its high margins, even as they needed to determine whether it contributed to their business objectives and their social mission as the first supermarket chain in Hong Kong that sold short-dated products that otherwise ended up in landfills. In addition, while GreenPrice had faced the challenge of high rents in the expensive, real estate-driven city, the ongoing health crisis caused vacancies in shopping malls to go up, resulting in a significant decrease in shop rental fees. Terence and his cofounders needed to make strategic choices on whether to enter the market for pandemic products while determining the optimal locations for expanding their retail network and the customer segments that they should target.
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Settings
Geographical setting
Region:
Asia
Country:
Hong Kong
Featured company
GreenPrice
Employees:
51-200
Industry:
Retail and wholesale
Featured protagonist
- Terence Hon (male), Co-founder
Related
Subject category:
Entrepreneurship
Published by:
Asia Case Research Centre, The University of Hong Kong
Version: 23 July 2024
Length: 17 pages
Data source: Field research