How Did Here for the Tea Die?
Every year, people ask the same question: how did Here for the Tea, aka HFT, the beloved tea company, die? This company was a tea revolution, the first of its kind to create modern tea blends that rivaled their counterparts from all over the world. Unfortunately, in March of 2021, the tea company closed down, leaving its loyal customers wondering what exactly happened.
The Business Model
HFT’s business model largely revolved around online sales. They sold tea at an incredibly competitive price point but also offered their consumers quality tea blends. The company was often praised for their transparent supply chain and strict standards for ethical sourcing.
However, this business model proved difficult to sustain in the long run. Although HFT was able to secure high-quality tea for a low price, their margins were being eaten away by increasingly high shipping costs. Additionally, their reliance on online sales meant that they could not tap into the more traditional tea-buying industry.
Competition in the Tea Market
There was also intense competition in the tea market that HFT had to contend with. As the tea industry grew, many other companies began offering similar tea products. However, these companies had large amounts of capital and resources, meaning they could undercut HFT’s prices and stay in the market. Additionally, due to their size, they were also able to dominate the tea market, relegating HFT and other smaller tea companies to the fringe.
Although the exact cause of HFT’s death has yet to be officially determined, it is likely that the combination of their business model and the intense competition in the tea market caused the closure of this beloved tea company.
For HFT’s loyal customers, the loss of the company is a devastating one. However, we can take solace in the fact that HFT provided a unique tea experience and left a lasting impression on the tea market.
- HFT’s business model relied heavily on online sales, which led to increased shipping costs.
- The tea market was becoming increasingly competitive, with larger players dominating the market.
- It is likely that the combination of the two factors caused the closure of the beloved tea company.