Hong Kong’s newest e-retail startup debuts
E-retail start-up company PhatRice has launched its online shopping site in Hong Kong.
PhatRice was established by a group of entrepreneurs who believe in creating a positive social impact through consumption.
The online retail platform promotes social good and environmental protection and innovation through sourcing and selling products made by social enterprises, green groups, creative designers and more. The company has developed partnerships with local and international suppliers who share the same social mission.
The online shop initially offers about 50 varieties of products developed by six business partners or product developers. It aims to have 50 partners in its first year of operation and grow the list further down the road.
Co-founder of PhatRice Anthony Lance says Nielsen research shows 50 per cent of global consumers surveyed are willing to pay more for socially responsible products.
“People are increasingly aware that what they spend on should carry a value they believe in. Socially conscious consumerism has long roots in the US and I believe that Hong Kong, as an international city in Asia, is the best place for us to start our innovative business model.”