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Magazines Archives - 2011 Apr

Fairprice commits to ‘convenience’ with more hypermarket openings
Story 6 - News

ONE of Singapore’s major grocery operators, NTUC Fairprice Co-operative Ltd, has revealed plans to open up to six hypermarkets in the city-state by 2013, with at least one in each of the heartland areas in the northern, southern, eastern and western parts of the island, to provide more convenience to consumers.

At the opening of its fourth hypermarket, FairPrice Xtra, located at the recently opened nex mall in the Serangoon Central suburb, the company announced that its next hypermarket, scheduled to open within the year, will be sited in the eastern part of Singapore.

Currently, Fairprice has a hypermarket in the west at Jurong Point, and one each in Ang Mo Kio Hub and Hougang Point.

“Eventually, we hope to provide at least one FairPrice Xtra in the northern, southern, eastern and western heartland parts of Singapore as one-stop shopping destinations for families,” said Ng Ser Miang, chairman of NTUC Fairprice.

The new 60,000sqf store at nex also offers 24-hour shopping convenience, as well as the largest selection of live seafood among FairPrice’s network of 30 stores islandwide that offers round-theclock accessibility. “The hypermarket format has helped to contribute to the economies of scale that we are able to negotiate for better prices,” Ng continued.

Noting local concerns over inflation, the company has imposed a price-freeze on 500 essential items under its house brand till end-May.

Said the group’s CEO, Seah Kian Peng, in a statement online: “As a social enterprise, we are committed to keeping prices of daily essential items affordable and stable … we understand that consumers could be anxious about their daily needs and we want to assure them that at least in the next few months [from February], we will not increase prices of FairPrice housebrand essentials.” ra

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2011 Apr Stories:

Soaring inflation, rising concerns Part 1: What’s hot and what’s not for Asian consumer markets?

Singapore’s ‘new downtown’ at Marina Bay comes to life

BroadcastAsia and CommunicAsia to bring together broadcast, digital media & infocomm communities

Key trends and developments impacting Asia-Pacific retailers

Dazzling housewares showcase leaves many visitors asking for more time

Fairprice commits to ‘convenience’ with more hypermarket openings

PayPal expands its payment services into retail stores

Consumers gravitating towards mobile POS checkout, says study

DHL sets up global retail sector business

CapitaMall buys Singapore’s Iluma

PepsiCo makes world’s first ‘green’ bottle, relaunches quieter SunChips eco-bag

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