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Honestbee turmoil has battered confidence in the brand, claims YouGov analysis

Singapore food and grocery delivery startup Honestbee has suffered a sharp slump in consumer sentiment and reputation after a turbulent period, analysis has shown.

YouGov said the brand was in “positive territory” just two months ago but its exit from several markets, departure of its chief executive and reports of cash problems have, unsurprisingly, led to sinking confidence.

YouGov’s ‘buzz score’, which measures what people have heard of a brand, stood at +7.6, but has slumped to -6.6, the lowest level YouGov has measured for the brand.

Its reputation score, which measures which brands people are proud to work for, has also suffered, falling in April from +9 to +1.1.

Consumers are also less likely to recommend the brand, with its rating declining from +10.0 to +2.7.

The dismal outlook for Honestbee follows recent turmoil that saw it axe operations in the Philippines, Hong Kong, Indonesia, Thailand and Japan. Reports also emerged that CEO Joel Sng had been fired while staff had been laid off.

Although YouGov said the company offered reasons for the closures, and the exit of Sng, the damage had been done.

YouGov APAC head of data products Ervin Ha, said: “Up until recently, Honestbee has been a Singaporean startup success story, which perhaps explains why the brand’s recent problems have got so many Singaporeans talking.

“This negative buzz has affected brand health badly in several ways, and it’ll be interesting to see if and when the brand’s scores manage to recover.”

Honestbee declined to comment on YouGov’s findings.

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