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19 December 2007

FairPrice stretches consumer's dollar with $3 million discount scheme for housebrand products

Singapore family can cut their grocery bill by 23%!

Singapore, 19 December 2007 – In view of rising cost of goods and services in Singapore, NTUC FairPrice (“FairPrice”), Singapore’s largest supermarket chain initiates a “Stretch Your Dollar” scheme, whereby shoppers can save another 5% of their grocery bills by choosing FairPrice housebrand products, starting 20 December 2007.  The discount scheme is expected to cost FairPrice $3 million.

The 5 % discount scheme will apply to more than 500 FairPrice housebrand products, ranging from rice, bread, cooking oil to detergent and bathroom tissues. The extensive range covers most of the daily essentials, which a typical Singapore family will need. 

The 5% discount will result in substantial savings for the consumer and help mitigate the impact of rising prices of goods in Singapore. It will be extended throughout Christmas and next year’s Lunar New Year period till end February 2008, so as to help Singaporeans tide over the coming festive seasons.

“As a social enterprise, NTUC FairPrice is mindful of its role in helping to moderate the cost of living in Singapore. From holding back price increases for as long as we can to offering alternatives through diverse product sourcing, FairPrice hopes to help Singaporeans stretch their dollar,” said Mr Ng Ser Miang, Chairman of NTUC FairPrice at the “Stretch Your Dollar” Learning Journey.

Held in AMK Hub, union leaders, together with Mr Lim Swee Say, Secretary-General of the National Trades Union Congress and Minister, Prime Minister’s Office, attended the Learning Journey organised by FairPrice, Ong Teng Cheong Institute of Labour Studies and NTUC Leadership Development Department.

During the Learning Journey, union leaders had a better understanding of the social role FairPrice played in helping to moderate the cost of living in Singapore. For example, the price of a jumbo loaf of FairPrice enriched white bread (500g) remains at a dollar since 1995 although bakeries and other brands of bread have increased their prices by as much as 20% within this year. The union leaders had the chance to sample some quality FairPrice housebrand products.

Mr Ng added, “FairPrice believes in providing good quality products at affordable prices to Singaporeans. On this aspect, our housebrand plays an important role as it allows us to provide consumers with alternatives that are of comparable quality as national brands but are priced lower. On average, our housebrand products are priced about 10% to 15% lower than national brands. With the 5% discount, consumers would be able to enjoy savings of 15% to 20% over national brands. This makes it more attractive for consumers to consider housebrand products.”

FairPrice scours the world for quality housebrand products. By going direct to the source, FairPrice is able to cut down on middleman handling and pass the cost savings to consumers. Bulk purchase has also helped FairPrice to achieve lower prices for its housebrand products, without compromising its quality. To ensure that all its housebrand food products meet stringent quality standards, FairPrice works closely with AVA on food safety, conducts factory audits and quality control measures and works with reputable factories from all over the world.

In addition, the union leaders also learnt about the many ways to enjoy greater savings through FairPrice’s various discount schemes and promotions. These dollar-stretching ways include FairPrice’s basket of Everyday Low Price items, must-buy and other advertised specials in the newspapers every week, Purchase with Purchase discounts, senior citizen discounts available to shoppers aged 60 and above, and rebates and Linkpoint rewards for union members. (See Annex 1)

These tips will be disseminated to all shoppers, as well as union members through the union network. To drive home the message, FairPrice has identified a family and helped them plan their grocery shopping to stretch their dollar.

Mr Chong Kiang Leong, a taxi driver and main breadwinner of a family of six, did their grocery shopping at various supermarkets and wet market. A typical week of grocery spending would have cost them about $159.00. Their shopping basket consists of items such as rice, cooking oil, meat, vegetables, milk, bread, etc. (See Annex 2).  FairPrice reviewed their basket and substituted products which offered value for money.

To their pleasant surprise, they managed to reduce their weekly grocery bills by $25.37. FairPrice also computed the amount of savings derived from his union membership privileges such as rebates and linkpoints, and the discount schemes available when they shop at FairPrice. The total savings amount to almost $1,900 a year, which is equivalent to 23% reduction in their yearly grocery bills.

Said Mr Chong, “Grocery spending can be quite a sum for my family of six. With the recent price increases of some daily necessities, I am starting to feel the squeeze in my wallet. Hence, I decided to review my spending patterns and am glad to find my family saving more, with value for money alternatives and better utilisation of discounts and rebates provided by FairPrice.”

-End-

Annex 1

Eight Ways to Stretch Your Grocery Dollar 平价省钱妙点

Essential Savings 节省必需品的开销

FairPrice maintains a basket of 400 essential items which it pledges to keep prices low everyday. Take advantage of these savings on essentials to keep your grocery spending low.

 

Housebrands 选购平价自家品牌产品

Housebrands are good quality alternatives compared to the better known brands. They are generally priced about 10-15% lower than national brands, because of savings from advertising cost. And now over the coming festive period, you will be able to enjoy an additional 5% discount for over 500 items.

 

Try Frozen Foods  尝试冰冻产品

Frozen foods are just as nutritious as fresh foods, but they're often easier on the pocket. Many frozen products go through high technology processing and retain their freshness and nutrition when cooked. Give it a try!

 

Advertised Specials  留意广告刊登的优惠特价

Take advantage of weekly promotions to stock up more. Weekly promotions advertised in the papers are a lot cheaper than their normal price. Buying more when the items are on offer will go a long way to cut your spending on groceries.

 

Purchase with Purchase  把握“购物再购物”优惠

Another smart tip when shopping in FairPrice is to look out for Purchase with Purchase items. You can buy selected products at very special prices with every $25* spent in FairPrice.

 

Discount For Elders  乐龄人士购物有折扣

Shoppers aged 60 and above enjoy 2% discount* on Tuesdays. So, bring your elderly along on Tuesdays to enjoy family shopping while saving on your grocery bills.

 

Rebate  回扣

FairPrice members receive attractive rebates for their purchases. Taking advantage of this loyalty programme, and your accumulated purchase will reward you with a generous rebate at the end of the year.

 

Earn Linkpoints  赚取宏惠积分

An extra perk that shoppers get when they shop in FairPrice is that they can accumulate LinkPoints to redeem FairPrice vouchers. Purchases above $20* are entitled to linkpoints which can be redeemed for vouchers or other products.

 

*Terms & conditions apply

 

Annex 2

Chong Family’s Shopping Basket in a Week

Typical grocery spending in a week = $159.00

Revised grocery spending in a week after substitution with products that offer value for money = $133.63

After additional savings with Rebates, LinkPoints, Senior Citizen discount, FairPrice Housebrands 5% discount, total savings in a year is about $1,900 or equivalent to a 23% reduction in grocery expenditure.

S/N

Items

Recommended Housebrand Substitutes

                                             

1

Rice 10kg

FairPrice White Fragrant Rice 5 kg x 2     

2

Sunflower Oil 2kg

FairPrice Sunflower Oil 2kg

3

Enriched Bread 400g

FairPrice Enriched White bread 400g + 25% (500g)

4

Sugar 2kg

FairPrice Coarse Sugar 2kg

5

Light Soya Sauce 640ml

FairPrice Light Soy Sauce 640ml

6

Dark Soya Sauce 640ml

FairPrice Dark Soy Sauce 640ml

7

Corn Flour 400g

FairPrice Corn Flour 400g

8

Chicken 900g to 1.2kg

Pasar Chicken 900g to 1.2kg

 

9

Vegetable – Chye Sim 200g

Pasar Chye Sim 300g/per pack

10

Pork Belly 1kg

Frozen Pork Belly 500g x 2

11

Fuji Apple 5's

Pasar Fuji Apples 5’s

12

Fresh Chilled Milk 1litre

FairPrice Fresh Milk 1litre

13

Spread 500g

FairPrice Poly Margarine 500g

14

Toilet roll 10's

FairPrice grade A bathroom tissue

15

Toothbrush 1's

FairPrice Toothbrush 2+1 pack

16

Washing powder 2.5kg

FairPrice Detergent Powder 3.5kg

17

Floor cleaner 2litres

FairPrice Floor Cleaner 2litres

18

Dishwashing Liquid 5litres

Budget Dishwashing Liquid 5litres

19

Brown rice 2.5kg

-

20

Egg 30's

-

21

Luncheon Meat B2 397g

-

22

Noodles 5’s

-

23

Beverage 1.5kg

-

24

2-in-1 Coffee bags (Kopi O)

-

25

Milk powder 700g

-

26

Peanut butter 1kg

-

27

Biscuits (40 pack)

-

28

Toothpaste 250g

-

29

Shampoo 700ml

-

30

Body Foam (3 packs)

-

 About the Family

1)     Mr Chong Kiang Leong, 42 years old, taxi driver for 8 years

2)     Mrs Chong, 39 years old, housewife

3)     Mother of Mr Chong, 74 years old

4)     Daughters aged 7, 11 and 13 years

5)     Stay in 4-room flat in Bedok

6)     Union member and member of NTUC FairPrice

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