NTUC FairPrice ranked most valuable retail brand in Southeast Asia
Published on Apr 9, 2014 8:05 PM
Singapore's supermarket chain NTUC FairPrice (FairPrice) is Southeast Asia's most valuable retail brand with an estimated brand value of US$1.52 billion, according to a brand report.
The report, which is published annually by Interbrand, a worldwide branding consultancy placed FairPrice ahead of Philippines' department store and supermarket chain SM, and Indonesia's Matahari and Malaysia's Parkson, which are department stores.
Interbrand said: "In a largely price-driven sector, FairPrice competes strongly on value, but also continues to strengthen its brand image through efforts such as an online video channel... These initiatives, on top of continuous efforts to stay relevant by offering more convenient payment options and passing along the savings from self-checkout counters and warehouse automation - the first of its kind in Asia-Pacific - are cementing the brand's positioning."
The report uses methodology that takes into account customer and financial terms, the contribution of the brand to business results and at least 50 per cent of sales revenue has to be from branded retail stores and websites.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!