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31 May 2011

NTUC FairPrice extends Stretch Your Dollar Programme till end of July 2011

- 10 and 5 percent discount, including price freeze, for all FairPrice branded housebrand items 

- Estimated savings of $3.45 million for customers.

To help the community cope with continued inflationary pressures, NTUC FairPrice has extended its well-received Stretch Your Dollar programme till the end of 31 July 2011. The programme by the social enterprise was launched amidst concerns of rising inflation earlier this year on 15 February and was to conclude on 31 May 2011. It consists of 10 cost-saving tips that include a 5 and 10 percent discount on 500 FairPrice branded Housebrand essential items.

Customers who hold the Plus! Visa or NTUC Plus! Card will enjoy a 10 percent discount on over 500 FairPrice branded Housebrand essential items that covers key daily needs like rice, bread, cooking oil, detergent and toilet rolls; non-cardholders will enjoy a 5 percent discount. With the extension, the cost of the discount scheme to FairPrice is expected to increase from an estimated $2.3 million to $3.45 million. This translates to the equivalent expected additional savings for customers on top of savings from choosing FairPrice branded Housebrand products. FairPrice will also freeze prices of its FairPrice branded Housebrands, which are already priced at least 10 percent lower than comparable national brands.

CEO of NTUC FairPrice, Mr Seah Kian Peng, said, "Inflationary pressures have continued through the earlier half of this year and is expected to persist over the next few months. As such, FairPrice has decided to extend the Stretch Your Dollar programme, which will help a wide spread of customers through our island-wide network of supermarkets and hypermarkets."

The Stretch Your Dollar programme also promotes various existing initiatives FairPrice has in place to help customers optimise their spending. This includes a best value basket of 500 Everyday Low Price (EDLP) popular national brand products, 200 Yellow Dot items that are priced lowest in their respective project categories, as well as the 2% Seniors' Discount scheme on Tuesdays.

FairPrice had first introduced the "Stretch Your Dollar" programme in December 2007, and was subsequently extended until December 2009 to help consumers cope with increased food prices during the economic downturn. The programme helped customers save over S$12 million during the two-year period.

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