SINGAPORE: Supermarket chain NTUC FairPrice said on Wednesday (Mar 22) it plans to open six more supermarkets catering to budget-conscious shoppers.
Called FairPrice Shop, the supermarkets stock a more affordable range of products. About half of their space is dedicated to FairPrice’s house-brand products, Every Day Low Price and Yellow Dot items. The Value Fresh range, which includes vegetables priced 5 to 10 per cent lower than the current house-brand produce Pasar, is also stocked exclusively at FairPrice Shop.
The new supermarket format was launched in July last year, with two FairPrice supermarkets in Eunos Crescent and Circuit Road converted to FairPrice Shop formats. After their conversion, the two supermarkets saw an 8 per cent increase in sales compared to the previous year, FairPrice said.
Another four outlets were opened at Jurong East, Ang Mo Kio, Henderson and Boon Lay last year.
On the location of the new outlets, the supermarket chain said: "We do not have details on the new supermarkets yet, but they will continue to be located primarily in mature estates to serve the needs of budget-conscious consumers."
FairPrice and Budget house-brand products are the top choice for customers at these stores, contributing about 15 per cent of sales, FairPrice said. This is followed by the Pasar and Value Fresh range of produce, which makes up almost 10 per cent of sales.
NTUC FairPrice CEO Seah Kian Peng said: “The FairPrice Shop format was introduced as a basic, no-frills supermarket that is conveniently accessible to serve the needs of budget-conscious shoppers. Located in mature estates, the format has been well-received by residents. We plan to increase the number of FairPrice Shops so that more people will benefit from it.”