This morning, NTUC FairPrice joins other Singaporeans in celebrating the Nation’s 41st Anniversary of independence.
1. NTUC FairPrice is a home-grown co-operative retailer of household goods. It was set up to combat profiteering, to provide value for the hard earned money of workers. NTUC FairPrice has stayed focused on this role, and become the largest supermarket chain in Singapore. It is “Singapore’s very own” because the supermarket co-operative is founded by workers - the labour movement - and owned by Singaporeans. This distinguishes NTUC FairPrice from other big supermarket or hypermarket chains.
2. NTUC FairPrice has therefore been an integral part of our journey in nation building. Whenever there is a food crisis, or a possible crisis, NTUC FairPrice has stepped forward to solve the problem, providing ease of mind to Singaporeans. At its founding, NTUC Welcome (NTUC FairPrice’s predecessor) stabilized the price of our staple – rice. The price of rice has remained stable ever since. Recent examples are the shortage of vegetables during the SARS crisis, and the shortage of eggs during the avian flu epidemic in Malaysia. Each time NTUC FairPrice stepped in to prevent profiteering.
3. I am glad that NTUC FairPrice has continuously sought to bring value to its customers, keeping prices down. Not only has NTUC FairPrice pledged to offer the lowest prices for a basket of 400 items, it has also a growing list of housebrand products. The basic principle of a co-operative is to use the bulk purchase strategy to lower prices. This has been done. The housebrand concept takes this further, as the NTUC FairPrice brand itself is an assurance of value and quality to customers. I am told that housebrand products form about 100 of the basket of 400 essential items in NTUC FairPrice’s basket.
4. NTUC FairPrice has also played its part in supporting other national priorities. We have an ageing population. How well older Singaporeans live depends on how much they have to spend. The funds come from their own savings and from the support they get from their children. However, life would be better for them if they can continue to work and earn a living. In the past few years, without being urged by a national tripartite committee to employ older workers, NTUC FairPrice has done just that. NTUC FairPrice played its part to absorb some of the workers who were retrenched during the downturn. I can confidently say that NTUC FairPrice has more employees in the older age groups than any other supermarket or hypermarket chain. I trust it will continue to re-design the work processes to make it more comfortable for employees.
5. Let me make clear my point. When a company employs older workers, it should not be out of a sense of charity. It should be to tap their abilities and experience. Whatever is done in job redesign should be aimed at enabling workers to do a better job. While a smart employer may design work to be less physically demanding on older workers, younger workers also benefit. The result is higher productivity all round. Redesigning work to suit older workers therefore provide an employer with a wider choice of employees.
6. With a growing population of seniors, it is a smart management that looks at how it can enable them to work, live and play. NTUC FairPrice has already gone further than most employers in enabling older Singaporeans to work. It is also doing more for older workers in their lives. NTUC FairPrice management has told me that it will be launching more housebrand products to meet the needs of the elderly. The diabetic are also included, and most of the diabetic are in the older age groups. There are already some products that cater to senior citizens, such as adult diapers, hi-calcium and reduced sugar products (e.g. soya bean milk), lower salt products (e.g. cheese and margarine), and healthier choice of oils and brown rice, and multi-grain cereals. Senior shoppers who are retirees will appreciate whatever savings they can get. Their needs are also different from the younger shoppers. So FairPrice housebrand products can help to stretch their dollars further. NTUC FairPrice will do more in this area.
7. Helping the senior segment of Singaporeans to live, work and play well is a national effort. All should play their part. Let us shed the idea that the old are frail or slow, or need help. To truly help older Singaporeans, we must adopt the concept of enabling them to continue to be independent. I am glad that NTUC FairPrice is doing its part, and is a model for others to follow.
8. Happy National Day!
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For media queries, please contact:
Chong Yan Cheng
Consultant
Corporate Communications Department
National Trades Union Congress
DID: 6213 8190
HP: 9797 8985
Email: chongycheng@ntuc.org.sg
