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Magazines Archives - 2011 Apr Fairprice commits to convenience with more hypermarket openings
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 FairPrices 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 groups 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 To view other stories, get a copy of Retail Asia. To subscribe, please download the subscription form from http://www.retailasiaonline.com/subscription.html
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ONE of Singapores 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.