Leading Singapore retailer NTUC FairPrice has launched its new budget banner and format FairPrice Shop.
The new format was unveiled at Eunos Crescent, with NTUC Enterprice chairman Lim Boon Heng and NTUC FairPrice Bobby Chin on hand to host the launch with associate professor Fatima Leteed and MP for Marine Parade GRC Geylang Serai, according to Inside Retail Asia.
The company said the launch of its new retail format was targeted at budge conscious shoppers, and was part of its social missions to “moderate the cost of living in Singapore”.
“The format will feature a more focused range of products offering greater value, including the introduction of an exclusive range of housebrand fresh produce, which is 5 to 10 per cent cheaper than FairPrice’s existing housebrand fresh produce line,” the company said.
“FairPrice Shop will be located primarily within mature estates with a higher concentration of low-income families.”