NTUC FairPrice, Foodfare and Kopitiam now helmed under FairPrice Group
It will cater to consumers' food-related needs
To better deliver quality and convenience at affordable prices, NTUC Enterprise yesterday announced the formation of FairPrice Group, comprising FairPrice, Foodfare and Kopitiam.
The three social enterprises will now be grouped under one umbrella, catering to consumers' food-related needs with competitive prices, better convenience and enhanced experiences.
Affordability remains high on their agenda, said NTUC Enterprise group CEO Seah Kian Peng yesterday at a briefing in Heartbeat@Bedok.
Mr Seah said: "The formation of FairPrice Group seeks to put customers first, provide better value for all and make everything about food easy."
The objective of the three entities will be to moderate the cost of groceries and food by leveraging its respective strengths.
With more Singaporeans eating out, 60 per cent of meals are consumed by takeaways or food deliveries, Mr Seah said.
Food and food services now take up a quarter of the average monthly household expenditure, amounting to $1,199.
This is 25 per cent more than a decade ago, Mr Seah added.
Food expenditures are also higher than that of housing and utilities, health and transport, he said.
With that, FairPrice Group aims to keep prices friendly while offering a more seamless shopping and dining experience for customers.
One way is by integrating technology and innovative concepts since online shopping has been increasingly popular, said Mr Seah, who is also a Member of Parliament for Marine Parade GRC.
For instance, the Scan-and-Go initiative allows customers to skip the queue and pay for their purchases in-store by accessing their FairPrice Online account through smartphones.
The new group has 573 outlets altogether, including FairPrice supermarkets, Unity pharmacies and Cheers convenience stores.
It also includes KopiTech at Funan, a new food court dining concept in Singapore where patrons can pay in cryptocurrencies at self-service kiosks or via the Facebook Messenger app.
FairPrice Group will remain under NTUC Enterprise.
In the meantime, Mr Seah said FairPrice Group is working on several projects and details will be announced at a later date.