NTUC FairPrice announces new initiatives to moderate the cost of living for Singaporeans18 March 2019
Singapore, 18 March 2019 – NTUC FairPrice (FairPrice) announced today, two major initiatives to alleviate daily costs of everyday essential groceries for its customers. Starting from today, FairPrice will hold prices of a basket of 100 FairPrice housebrand products until 30 June 2020. In addition, all Merdeka Generation members will enjoy a three per cent discount when they shop at FairPrice stores on Wednesdays from 1 July 2019 for a period of one year.
Mr Seah Kian Peng, CEO, NTUC FairPrice, said: “As part of the NTUC group of Social Enterprises serving various purposes for Singaporeans, FairPrice continues to play our part in moderating cost of living. Today, we pledge to hold prices for 100 frequently purchased everyday essential products in our housebrand range to protect Singaporeans from any price fluctuations and at the same time, have also dropped prices of some 50 popular housebrand products. In addition, we honour our Merdeka Generation by providing additional cost savings for them, while continuing our Pioneer Generation and Seniors’ discount initiatives.”
Holding prices of 100 housebrand products
FairPrice’s housebrand range of products, which is priced at least 10 percent cheaper compared to leading brands, has been a steady source of affordable and good quality everyday essentials for Singaporeans over the years. To further assure and extend cost savings afforded by the range, FairPrice will hold the prices of 100 housebrand everyday essentials with immediate effect until 30 June 2020, a period of over 15 months. Beyond this, FairPrice will also drop prices for over 50 housebrand everyday essentials by – as much as 30 percent – to ensure all 100 of the selected housebrand everyday essentials are priced at least 20 percent cheaper than comparable leading brands.
Spanning the categories of groceries and household consumables, the products are specially selected based on popular daily essentials purchased by customers, which is representative of the average household in Singapore. They include groceries like rice, oil, beverages and poultry, in addition to batteries, snacks, toiletries and household cleansers. The commitment to hold prices will help cushion Singaporeans against possible price increases for everyday essentials over the next year, regardless of changes in supply and external factors. The initiative serves to moderate the cost of living by acting as an industry benchmark for prices of everyday essentials, thereby ensuring they remain affordable for all.
Mr Viknesh Kumaran, 39, a pilot who shops for the family at FairPrice, commented on the initiative: “As a fan of FairPrice’s housebrand products, our family is heartened to see FairPrice doing even more to keep prices of our daily essentials affordable, without compromising on quality. With the price freeze, I feel even more assured to continue purchasing our regular grocery items at FairPrice stores.”
Kicking off on 1 July 2019 for a year, members of the Merdeka Generation1, comprising individuals who have made significant contributions to Singapore’s security, economy and independence, will enjoy a three per cent discount on purchases at FairPrice on Wednesdays. They would need to present their Merdeka Generation Cards or valid identifications at the point of purchase to qualify for the discount.
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1Merdeka Generation individuals are defined as those who were born from 1 January 1950 to 31 December 1959; and became a Singapore citizen on or before 31 December 1996, as well as seniors who were born on or before 31 December 1949 and did not receive the Pioneer Generation Package; source
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