SINGAPORE (Oct 23): CGS-CIMB Research is maintaining “overweight” on the consumer staples sector after a recent visit to Habitat, honestbee’s tech-enabled grocery and dining destination in Pasir Panjang.

In a Tuesday report, analyst Cezzane See describes the online-to-offline (O2O) retail experience as “akin to shopping at an upmarket grocery store” – and says the move by honestbee proves that physical retail is still relevant despite the onset of the “new retail” phenomenon.

The way See sees it, Habitat could pose some competition for online food delivery and grocery players like Grabfood and Redmart, given the likelihood of this physical experiential presence fostering consumer awareness and loyalty.

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