Speaking at a media appreciation lunch in conjunction with Chinese New Year on 12 February 2015, NTUC Fairprice Co-operative Limited’s Chairman Bobby Chin said the supermarket chain will continue to look at better ways to do business and improve productivity.
Earlier last year, NTUC FairPrice launched a device called Scan2Go to reduce waiting time at the checkout.
A Fabulous Year
Mr Chin added that 2014 was a fabulous and significant year for FairPrice for many reasons.
The Co-operative launched the first membership-only retail warehouse in Singapore called Warehouse Club in December last year. The 80,000 square feet mega retail store is located at the new FairPrice Hub at 1, Joo Koon Circle.
On the business front, six new supermarkets were opened, bringing the total number of outlets to 126 island-wide.
FairPrice Community Role
Mr Chin added that giving back to the community will always be a top priority for FairPrice.
“We continue to help the poor through the Breadwinners-We Care U Care Campaign, the NTUC FairPrice Food Voucher Scheme and provided additional discounts for our seniors. You may be interested to know that over $100,000 has been given each week in the form of seniors and pioneers discounts. And to date, FairPrice Foundation has donated $60 million to the community since it was launched in 2008,” said Mr Chin.
Strategic review
FairPrice did a review of its mission and business strategy in 2014 and this has resulted in a five-year plan called FP 2020.
According to a Fairprice spokesperson, FP 2020 reaffirms the enterprise’s social objective to help moderate the cost of living by sharpening its prices and helping the community stretch their dollar.
Source: NTUC This Week
