SINGAPORE - Supermarket chain FairPrice announced plans on Wednesday (March 22) to open six more FairPrice Shop stores in 2017, amid rising demand for budget groceries.
They feature a smaller but more affordable range of products, including housebrand products, Every Day Low Price and Yellow Dot items, which comprise about half the product mix in the stores.
FairPrice house brand Value Fresh is stocked exclusively at these stores, and its range includes 30 types of fresh vegetables priced at five to 10 per cent lower than Pasar, FairPrice's existing range of housebrand produce.
The FairPrice Shop format was launched in July 2016, with the conversion of two FairPrice supermarkets in Eunos and Circuit Road. After their conversion, the two supermarkets saw an eight per cent increase in sales compared to the previous year, FairPrice said in a statement.
Four more were launched at Henderson Crescent, Jurong East St 24, Ang Mo Kio Ave 10 and Silat Ave later in the year.
FairPrice and Budget housebrand products are the top choice for customers at FairPrice Shop stores, contributing about 15 per cent of sales, followed by the Pasar and Value Fresh housebrand range of fresh products, which make up almost 10 per cent of sales, FairPrice said.
FairPrice chief executive Seah Kian Peng said: "The FairPrice Shop format was introduced as a basic, no-frills supermarket that is conveniently accessible to serve the needs of budget-conscious shoppers. Located in mature estates, the format has been well-received by residents.
"We plan to increase the number of FairPrice Shops so that more people will benefit from it. This is one of the ways FairPrice serves its role as a social enterprise by ensuring that essentials remain affordable to help address issues on the rising cost of living."
FairPrice has five other supermarket formats: FairPrice, FairPrice Finest, FairPrice Xtra hypermarket, Warehouse Club and FairPrice Online.