TL;DR – “FairPrice is the cheapest!”, said no one ever.
“Please lah, NTUC FairPrice where got cheap? Many items can be found selling cheaper at other supermarket lor!” – This is true, but this is also not true.
True that there are things you can get cheaper elsewhere as compared to FairPrice, but not true because there are items at FairPrice sold at the lowest prices in the market.
It was never the intent of FairPrice to be the cheapest in the market. Instead, FairPrice’s mission has always been to fight inflation, to offer daily essentials at affordable prices, to hold down prices and to deter profiteering and the black market.
If there is no FairPrice or if FairPrice isn’t the leading grocery retailer with the biggest market share today, can you thump your chest and guarantee that the other for-profit competitors out there will still be willing to offer you their competitive prices? Can you still use FairPrice as your benchmark when comparing prices? What, then, can stop those commercial outfits from maximising profits?
I can’t say for sure.
There is one thing I am sure of though: If there’s no FairPrice, there won’t be FairPrice Foundation to provide yearly donations to the NTUC-U Care Fund to help Singaporeans from low-income families.
While NTUC FairPrice isn’t always about reducing cost and being “cheap price”, it promises to 1) Keep daily essentials affordable for Singaporeans and 2) Provide additional cost savings to Singaporeans.
Remember, as a social enterprise, it has to first make money, before it can do good.
Keeping daily essentials affordable for Singaporeans
In case you don’t already know, as far back as 1985, NTUC FairPrice has been helping Singaporeans to stretch their dollar through the introduction of its own range of Housebrand products.
Today, more than 2,000 products, including daily essentials, are priced 10 to 15% lower than those of its market competitors.
Fast forward to 25 years later, NTUC FairPrice continues to live up to their promise.
In an announcement today, Mr Seah Kian Peng, CEO of FairPrice, vows to continue to be Singaporeans’ reliable source of affordable and good quality daily essentials.
Not only did FairPrice pledge to hold the prices of 100 Housebrand daily essentials with immediate effect until 30 June 2020, Mr Seah also announced that FairPrice will further reduce prices for more than 50 Housebrand daily essentials to ensure that all 100 of the selected Housebrand daily essentials are priced at least 20% lower than comparable leading brands.
That’s a good 30% price reduction!
Providing additional cost savings to Singaporeans
On top of the usual LinkPoints and member rebates, you might have also heard of the seniors discount scheme, offering those aged 60 and above a 2% discount off their purchases on Tuesdays.
More recently, FairPrice announced that it will be extending its discount for members of the Pioneer Generation (PG), allowing the PG folks to continue enjoy the 3% discount when they shop at FairPrice until 30 June 2019.
As part of the national initiative to honour and show appreciation for the Merdeka Generation’s contribution to the nation, FairPrice has also announced that starting from 1 July 2019, members of the Merdeka Generation will enjoy a 3% discount on purchases at FairPrice on Wednesdays.
To qualify for the discount, shoppers would simply need to present their Merdeka Generation cards or a valid ID. This discount will be valid for a year.
“FairPrice is the cheapest!”, said no one ever
In other words, things you see in FairPrice may not necessarily be the cheapest, but if you search for daily essential products under the Housebrand, then yes, they are cheaper than those in the market.