Singapore’s largest supermarket chain NTUC FairPrice and South-east Asia’s on-demand transportation and mobile payments platform Grab signed a Memorandum of Understanding (MoU) to embark on a joint initiative to launch a new subscription service.
Tapping cross-industry strengths from both organisations, the strategic partnership is designed to complement consumers’ online-to-offline lifestyle, while offering better value, convenience and access on essential goods and services in Singapore.
NTUC FairPrice CEO Seah Kian Peng said: “FairPrice is here to make lives better and our strategic partnership with Grab signifies our ongoing efforts to cater to the evolving needs of the community. Together, we look to create a more rewarding experience for our customers by providing better value and greater convenience through a programme that is tailored to their lifestyle needs.”
Anthony Tan, group CEO and co-founder of Grab, said: “At Grab, we are constantly looking at ways to create value for our customers. We are excited to see the launch of this mutually beneficial partnership, which allows our customers to benefit from additional discounts and perks from FairPrice, the retailer with the largest footprint in Singapore. With both supermarket and transport services as part of this initiative, we are thrilled to provide greater cost-savings and convenience for time-strapped Singaporeans.”
A survey of over 1,000 customers between the ages of 20 to 40 years old revealed that 95% are likely to subscribe to such services and 56% of the respondents indicated they are not currently subscribed to any existing service. Groceries (69%) and Transport (54%) also top the list of services they want to enjoy benefits on from a subscription service.
Consumers who opt for this new subscription service by Grab and Fairprice will enjoy exclusive savings, rebates, and access to services on groceries and transport. It is targeted for launch in the first quarter of 2018.