NTUC FairPrice extends greater savings to consumers through price freeze and discounts
Published on
13 October 2022
New Greater Value Every Day campaign to address concerns over the rising cost of living and provide greater value every day to consumers
Enhanced discount scheme for Everyday Low Price with price freeze of 50 popular daily essential products every month, and up to 50 percent off for Price Drop Buy Now items
SINGAPORE, 13 October 2022 – NTUC FairPrice (FairPrice) today announces additional efforts to help consumers shop smarter and save more with the launch of the “Greater Value Every Day” initiative. This initiative comprises an enhanced Everyday Low Price (EDLP) scheme, with price freeze for 50 selected popular daily essential items every month. It also offers discounts of up to 50 percent weekly under a new scheme called Price Drop Buy Now.
Greater Value Every Day reflects FairPrice’s commitment in its ongoing efforts to help address concerns over the rising cost of living even as it faces the challenges of rising global commodity prices and supply chain disruptions.
Mr Vipul Chawla, Group CEO, FairPrice Group, said, “We understand the growing concerns of consumers in managing rising costs of living amidst the current uncertain economic climate. To assure the community of our commitment in moderating costs, we have put together a comprehensive programme to empower customers to save more on groceries and daily necessities. Our holistic approach will include price freezes on staple items, dedicated discounts tailored to specific customer segments, as well as sharing of shopping tips and information to empower consumers to stretch their dollar and be smarter shoppers. We remain committed to stretching our resources and keeping prices affordable and supplies stable, despite facing increasing operational costs brought on by rising inflation.”
Greater Value Every Day
The Greater Value Every Day initiative encompasses four main discount and value schemes: Everyday Low Price, Price Drop Buy Now, Save Even More and New & Exclusive.
Under Everyday Low Price (EDLP), FairPrice curates a basket of over 500 popular daily essentials that are priced low to provide the best value to the community. These items comprise popular grocery items such as fresh fruits, vegetables and meat, staples, dairy, paper products, detergents and household cleaners. To provide greater savings, FairPrice will freeze the prices of 50 items, out of a pool of over 500 popular daily essential items, every month. The list of 50 items will be announced every last Thursday of the month through its print, online and social media advertisements.
Price Drop Buy Now offers weekly discounts on items with discounts of up to 50 percent off. Price Drop Buy Now items are renewed weekly and announced every Thursday of the week also through print, online and social media advertisements.
Save Even More consists of the existing discount schemes for Pioneer Generation (PG), Merdeka Generation (MG), Seniors Discount, CHAS Blue card holders, and 5% Stretch Your Dollar Discount between Monday and Friday, in addition to FairPrice Member rebates and Linkpoints. NTUC Union and Link Members will also periodically enjoy discounts of 50 percent for specially selected items.
New & Exclusive refers to a range of specially curated products that are exclusive to FairPrice and offer good value.
Greater savings for different segments of the community
To illustrate potential savings, the table below features items picked based on different customer profiles and cross referenced with Everyday Low Price and Price Drop Buy Now Press advertisements dated 29 September 2022 and 13 October 2022 respectively. The prices listed are before discount.
Each customer segment basket simulates savings for the various customer segments on a month’s worth of grocery purchases.
Total monthly grocery purchases: $138.41 – $21.08 = $117.33
Stacking of savings and rewards:
38% of the basket are EDLP items
Total Savings = $21.08 (15.2%)
Savings from PDBN items is $16.85
3% Pioneer Generation discount: $3.65
Linkpoints Earned: 58.5 (worth $0.58)
Young families
2 x Concentrated Liquid Detergent Refill Pack Assorted 1.5kg/1.6kg: $7.45
2 x FairPrice Soft Pack 2-ply Facial Tissue 4s x 200 sheets: $6.50
Pasar Chile Thawed Salmon Portion 1kg: $29.90
Full Cream Evaporated Milk 395g: $1.70
Pasar Prepacked Carrots: $1.90
FairPrice Thai Fragrant White Rice 5kg: $6.50
FairPrice Canola Oil 5L: $19.60
FairPrice Premium Kitchen Towel 6s: $4.55
Pasar China Fuji Apple: $5.00
Australia Navel Orange: $4.00
Porkee Frozen Pork – Minced Pork 500g” $4.60
Holland Potato (China) 1kg: $1.35
2 x Stage 3 Growing Up Milk Powder 800g: $98.00
3 x Coconut Water 1L: $12.60
3 x Tape Diapers: $79.80
2 x Baby Food Assorted 110g: $4.40
2 x Facial Cleanser Assorted 2s x 170g + 1s x 50g: $14.90
2 x Shampoo Assorted 620ml/720ml: $25.90
Total monthly grocery purchases: $328.65 – $63.14 = $265.51
Stacking of savings and rewards:
33% of the basket are EDLP items and 33% of the basket are SYD items
Total Savings = $63.14 (19.2%)
Savings from PDBN items is $59.85
5% off Stretch Your Dollar discount: $1.96
Linkpoints Earned: 133 (worth $1.33)
Greater Value Every Day is FairPrice’s latest effort to moderate the cost of daily essentials in Singapore. Earlier this year, FairPrice took the lead in providing a 5 percent discount on 100 popular daily essentials every Friday. The social enterprise also provided special discounts on eggs and cooking oil to address concern on the rising prices, which created a ripple effect where other industry players also dropped their prices.
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Annex
Discount / Value Schemes
Benefit
Everyday Low Price
Basket of over 500 popular daily essentials that are priced low to provide the best value to the community.
To provide greater savings, FairPrice will freeze the prices of 50 items, out of a pool of over 500 popular daily essential items, every month.
New items will be announced every last Thursday of the month
The discount applies to a variety of daily essentials, fresh produce, and crowd-favourite products
Price Drop Buy Now
Weekly offers of up till 50% discount that commence every Thursday
Save Even More
Monday to Friday discounts (Pioneer Generation (PG), Merdeka Generation (MG), Senior Citizen Discount (>60 y.o.), CHAS card holders and Stretch Your Dollar)
To provide greater savings, FairPrice will freeze the prices of 50 items, out of a pool of over 500 popular daily essential items, every month.
FairPrice Member rebates and dividends, Linkpoints
Special discounts for NTUC Union and Link Members
New & Exclusive
New & Exclusive items to FairPrice at good value, including Gift-With-Purchase offers
Savings Every Day
Day of the week
Initiative
Benefit
Monday
PG Discount Scheme1
3% discount
Tuesday
Seniors Discount Scheme (>60 y.o.)
2% discount
Wednesday
PG & MG Discount Scheme1
3% discount
Thursday
CHAS Blue Discount Scheme1
3% discount
Friday
5% Stretch Your Dollar Discount
5% discount on 100 daily essential items
Every Day
FairPrice Rebates2
4% rebate on purchases of up to S$6,000 made in the last financial year
Linkpoints
0.5 Linkpoints for every $1 spend
Total bonus earn rate of 1.33 Linkpoints for every $1 spend when spending $400 and above monthly.
1 The PG, MG, CHAS Blue and 5% Stretch Your Dollar Discount Schemes are valid until 31 December 2022.
2 Rebates are subject to approval at the NTUC FairPrice Annual General Meeting.
