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19 April 2011

FairPrice celebrates 100 stores by giving $10 million to FairPrice Foundation to benefit the community

Increased footprint also reinforces social mission as customers have greater access to quality products at affordable prices

NTUC FairPrice (FairPrice) today celebrated its crossing of 100 stores with a donation of $10 million to FairPrice Foundation to enable the Foundation to continue to provide a better life for the community. This is the largest single amount to be given in one year to the Foundation since it was set up in 2008. The event, held at the grand opening of FairPrice Finest at Serangoon Village, which is FairPrice's 100th store, was graced by Guest-of-Honour, Mr Teo Chee Hean, Deputy Prime Minister and Minister for Defence.

The supermarket chain has grown since its first Welcome store in Toa Payoh was set up in 1973 to help moderate the cost of living in Singapore, as prices of staples soared due to the oil crisis then. Till today, FairPrice continues to uphold this social mission. Customers are assured of affordable essentials through its uniform pricing policy and its Stretch Your Dollar Programme.

Increasing accessibility and convenience

FairPrice today has over 100 stores island-wide, comprising FairPrice and FairPrice Finest supermarkets, and FairPrice Xtra hypermarkets. FairPrice stores are largely located in the neighbourhoods and are within walking distance for most residents. Apart from this, FairPrice offers customers 24-hour shopping convenience at 30 supermarkets and hypermarkets throughout the island. Many FairPrice stores also operate on extended hours to better suit the busy schedules of their customers.

Mr Ng Ser Miang, Chairman of NTUC FairPrice said, "Crossing 100 FairPrice stores is a milestone for FairPrice for two reasons. Firstly, it reinforces our social mission to moderate the cost of living as customers can now have greater access to quality products at affordable prices. Secondly, as we grow our business, we are able to contribute more to the community."

As a social enterprise, FairPrice is guided by the philosophy to do well in order to do good for the community. "What this means for our customers is that they can be assured that for every dollar spent at FairPrice, part of it will go towards helping someone in the community live a better life," Mr Ng added.

FairPrice Group donates $10 million to FairPrice Foundation

FairPrice set up the FairPrice Foundation in 2008 to help provide a better life for the community. Fully funded by FairPrice Group, the Foundation has donated $26 million to the community to-date. This year, FairPrice Group is donating another $10 million to Foundation to enable it to continue to help the poor and needy with their daily needs, support nation building and community bonding events, as well as advancing workers' welfare.

As in past years, the funds this year will primarily benefit low income workers and needy families through key initiatives such as the FairPrice Food Voucher Scheme, NTUC U-Care Fund and through community partners such the Society for the Physically Disabled, Food From the Heart and Community Chest.

Evolving with Customers' Changing Needs and Lifestyles

Besides growing its footprint, FairPrice also grows with its customers, evolving with their changing needs and lifestyles. FairPrice has adopted multi-retail formats to suit customers from all walks of life. The return to Serangoon Village is one prime example. In 2008, FairPrice closed its FairPrice supermarket store as upgrading efforts were undertaken at Serangoon Village. Today, in view of the evolved landscape and customer base in Serangoon Village, FairPrice reopens in the vicinity as FairPrice Finest, catering to the mass affluent who want the finer things in life.

FairPrice also operates FairPrice Xtra hypermarkets to offer family shopping fun, FairPrice Xpress (located mainly in Esso stations) caters to drivers and riders, and Cheers convenience stores serves the young and trendy. With the prevalence of the Internet, FairPrice Online enables customers to do their grocery shopping through the web and the promotion web portal www.whatsupatfairprice.com.sg allows customers to browse offers available at FairPrice.

To better engage customers in today's digital age, FairPrice was the first supermarket chain to launch the That's My FairPrice (TMFP) Facebook profile page in 2009. Through this platform, FairPrice is able to reach out to an online community of over 30,000 fans, on latest announcements like store openings or promotions, and involve them in various CSR related activities. In 2010, FairPrice launched a "Uniquely Singaporean" wine pairing online application that paired wine with popular Singaporean dishes rather than European dishes used in most of the other applications available in the market.

FairPrice has also continued to expand its product range and diversify its sources. In 2010, it introduced a new range of housebrand vegetables from Indonesia and an exclusive range of Halal-certified food products from Brunei. Country fairs for products from India, Australia, Korea and Taiwan were also held to offer shoppers a wider range of products.

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