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.
FairPrice chief executive Seah Kian Peng said in a statement that the company will continue to "leverage our brand strength as well as look for more ways to harness technology to increase convenience for customers and improve productivity that can translate into cost savings and benefits for them."