NTUC FairPrice
{{Short description|Supermarket chain in Singapore}}
{{about|the supermarket chain operated as a social enterprise of the National Trades Union Congress (NTUC)|the trade union itself|National Trades Union Congress}}
{{EngvarB|date=July 2014}}
{{Use dmy dates|date=June 2023}}
{{Infobox company
| name = NTUC FairPrice
| logo = FairPrice logo.svg
| type = Supermarket
Co-operative
| foundation = {{Start date and age|df=yes|1973|7|22}}
| location = 1 Joo Koon Circle, #13-01, FairPrice Hub, Singapore 629117
| industry = Retail
| products = Grocery stores, supermarkets, hypermarkets
| parent = NTUC
| homepage = http://www.fairprice.com.sg/
}}
NTUC FairPrice is the largest supermarket chain in Singapore.{{Cite web |title=As inflation rises, how much more are you paying for your groceries? |url=https://www.channelnewsasia.com/singapore/groceries-cost-prices-supermarkets-inflation-eggs-2551636 |access-date=2022-03-13 |website=CNA |language=en |archive-date=13 March 2022 |archive-url=https://web.archive.org/web/20220313120256/https://www.channelnewsasia.com/singapore/groceries-cost-prices-supermarkets-inflation-eggs-2551636 |url-status=live }} The company is a co-operative of the National Trades Union Congress (NTUC). The group has more than 100 supermarkets across the island, with over 160 outlets of Cheers convenience stores island-wide.
NTUC FairPrice has partnered with ExxonMobil to run several stations with a FairPrice branding at the minimarts at their stations. The supermarket has the slogan "Singapore's very own".
History
Image:Ntuc Fairprice.jpgIn November 1972, NTUC announced its new consumer co-operative named Welcome, which opened in February 1973.{{Cite news |date=21 November 1972 |title=NTUC supermarket to be called WELCOME |pages=2 |work=The Straits Times |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19721121-1.2.17 |access-date=17 February 2023 |via=NewspaperSG}} On 22 July 1973, Prime Minister Lee Kuan Yew opened the first supermarket at Block 192, Toa Payoh Lorong 4, and it was the first of its kind.{{Cite news |date=22 July 1973 |title=Hundreds will watch the PM open NTUC supermarket |pages=7 |work=The Straits Times |url=https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19730722-1.2.37 |access-date=17 February 2023}}Shapudin, Naqiyah 2013 'Back at the first store after 35 years', The New Paper 27 July. p.6
In August 2007, FairPrice opened its upmarket outlet at Bukit Timah Plaza named FairPrice Finest, after five months of refurbishment.{{Citation needed|date=February 2023}} The move was to cater to the changing tastes of Singaporeans who are increasingly well-travelled. The {{Convert|4000|m2}}, two-storey outlet has an offering of products different from other FairPrice stores, and also features a Swiss-style delicatessen, a wine cellar and a European bakery.{{cite news | author = Nur Dianah Suhaimi | title = Fancy exotic cheeses, live oysters? Try FairPrice | newspaper = The Sunday Times | date = 19 August 2007}}
= International operations =
FairPrice has attempted to expand into other countries. Its first attempt was Malaysia in 1994, operating as a 60:40 joint venture with Hong Leong Industries Berhad under Quayline FairPrice. Its competitors were Parkson and Jaya Jusco. The first outlet was at Ampang Point, which opened on 3 January 1994.{{cite news |title=NTUC FairPrice makes strong debut with Malaysian launch |url=https://eresources.nlb.gov.sg/newspapers/digitised/article/straitstimes19940610-1.2.59.38?qt=fairprice,%20malaysia&q=fairprice%20malaysia |work=The Straits Times |date=10 June 1994}} Despite no longer operating in Malaysia, FairPrice had no plans to restart its operations in the country.{{cite news |title=FairPrice not planning to expand into Malaysia |url=https://eresources.nlb.gov.sg/newspapers/digitised/article/beritaharian20101009-1.2.7.4?qt=fairprice,%20malaysia&q=fairprice%20malaysia |access-date=27 April 2024 |work=The Straits Times |date=19 July 2012}}
In 2003, it entered a joint venture with DBS Private Equity, New Hope Group, Silver Tie and Taiwan's Apex Group, known as Nextmall.{{Citation needed|date=February 2023}} The venture provided merchandising, management and logistics for a fee to Nextmart which is a China incorporated hypermarket. Seven hypermarkets were opened in China, with its first in Shaoxing, Zhejiang.{{Cite web|title=NTUC FairPrice to run China hypermarts|url=https://www.thestar.com.my/business/business-news/2003/02/20/ntuc-fairprice-to-run-china-hypermarts|date=2003-02-20|website=The Star|location=Malaysia|access-date=2020-05-13|archive-date=22 March 2022|archive-url=https://web.archive.org/web/20220322231646/https://www.thestar.com.my/business/business-news/2003/02/20/ntuc-fairprice-to-run-china-hypermarts|url-status=live}} Nextmall closed in 2005 after incurring a total of $80 million in debts and over $40 million in losses.{{Cite web|title=FairPrice to expand in Vietnam|url=https://sg.news.yahoo.com/fairprice-expand-vietnam-20101220-080000-681.html|date=2010-12-21|publisher=Yahoo! News|language=en-SG|access-date=2020-05-13}}
A supermarket in Vietnam was opened in 2013 under a joint venture with Saigon Union of Trading Co-operatives, known as Co.opXtra Plus.{{Cite web|title=NTUC FairPrice opens joint venture store in Vietnam|url=https://www.straitstimes.com/singapore/ntuc-fairprice-opens-joint-venture-store-in-vietnam|date=2013-05-17|website=The Straits Times|language=en|access-date=2020-05-13|archive-date=27 November 2020|archive-url=https://web.archive.org/web/20201127182833/https://www.straitstimes.com/singapore/ntuc-fairprice-opens-joint-venture-store-in-vietnam|url-status=live}} FairPrice also operated Cheers convenience stores in Vietnam as of 2018.{{Cite web|title=Singapore's Cheers convenience store chain expands in Vietnam|url=https://insideretail.asia/2018/05/28/singapores-cheers-convenience-store-chain-expands-in-vietnam/|date=2018-05-28|website=Inside Retail Asia|language=en-US|access-date=2020-05-13|archive-date=26 February 2021|archive-url=https://web.archive.org/web/20210226034510/https://insideretail.asia/2018/05/28/singapores-cheers-convenience-store-chain-expands-in-vietnam/|url-status=live}}
Retail formats
- Cheers by FairPrice – This 24-hour convenience store chain run by NTUC FairPrice was introduced in 1999. It offers similar facilities to rival 7-Eleven.
- FairPrice Shop – A small heartland store chain catering to basic needs.{{Cite web |title=Our Retail Formats |url=https://www.fairprice.com.sg/our-retail-formats/ |access-date=2023-08-21 |website=NTUC FairPrice}}{{Citation needed|date=February 2023}}
- FairPrice Xpress – A collaboration between ExxonMobil and Fairprice, this 24-hour convenience store chain offers similar facilities to Cheers by FairPrice and its rival 7-Eleven.
- FairPrice Finest – This is a separate store offering up-market food supplies. It was officially opened in September 2007, and also it merged the former Liberty Market. Stores include Bedok Mall, Waterway Point, Century Square, Junction 8, Causeway Point and Seletar Mall.{{cite web|title=Fairprice Finest|url=http://www.fairprice.com.sg/webapp/wcs/stores/servlet/StoreLocatorCmd?langId=-1&storeId=90001&catalogId=10051&storesView=ContentView&Corporate=Y&strType=FairPrice%20Finest|access-date=31 July 2014|archive-url=https://web.archive.org/web/20140808041826/http://www.fairprice.com.sg/webapp/wcs/stores/servlet/StoreLocatorCmd?langId=-1&storeId=90001&catalogId=10051&storesView=ContentView&Corporate=Y&strType=FairPrice%20Finest|archive-date=8 August 2014|url-status=dead}}
- FairPrice Xtra – A hypermarket chain which combines a normal supermarket and the FairPrice Homemart in one store. It sells items such as electronics, clothing and household merchandise in addition to the regular supermarket items, and also it merged the former FairPrice Homemart, together with former Carrefour stuffs. Stores include AMK Hub, Jurong Point, UE BizHub East, Kallang Wave, Jem and Nex.{{cite web|title=Fairprice Xtra|url=http://www.fairprice.com.sg/webapp/wcs/stores/servlet/StoreLocatorCmd?storeId=90001&catalogId=10051&storesView=ContentView&Corporate=Y&strType=FairPrice%20Xtra|access-date=31 July 2014|archive-url=https://web.archive.org/web/20140808041821/http://www.fairprice.com.sg/webapp/wcs/stores/servlet/StoreLocatorCmd?storeId=90001&catalogId=10051&storesView=ContentView&Corporate=Y&strType=FairPrice%20Xtra|archive-date=8 August 2014|url-status=dead}}
- Warehouse Club – Operating between 2014 and 2024, the Warehouse Club was modelled on American warehouse club chain Costco and access was only available through membership.{{Cite web |last=Migration |date=2014-12-08 |title=FairPrice opens membership-only mega retail store, modelled after United States' Costco {{!}} The Straits Times |url=https://www.straitstimes.com/singapore/fairprice-opens-membership-only-mega-retail-store-modelled-after-united-states-costco |access-date=2023-02-17 |website=The Straits Times |language=en}} It offered bulk purchases with discounts. The only branch closed permanently on 21 March 2024 and was replaced by a regular FairPrice store.
- Unity Pharmacy - A pharmacy chain offering pharmaceutical supplies at affordable prices. Usually located outside Fairprice supermarkets.{{Citation needed|date=February 2023}}
- Cheers - A a convenience store chain to fulfil everyday needs, which was first opened in 1998.
Every year, FairPrice offers NTUC Union Members (NTUC cardholders) and FairPrice shareholders dividends, along with cash-back rebates for all purchases made at FairPrice supermarkets island-wide.{{cite news | author = FairPrice Rebates | title = NTUC Union Membership Core Benefits | url = http://www.ntuc.org.sg/members/signup/core_benefits.asp | publisher = NTUC | date = 4 September 2007 | access-date = 15 September 2007 | archive-date = 8 November 2007 | archive-url = https://web.archive.org/web/20071108232444/http://www.ntuc.org.sg/members/signup/core_benefits.asp | url-status = live }}
Union
Employees of NTUC FairPrice are represented by the Food, Drinks and Allied Workers' Union (FDAWU), an affiliate of the National Trades Union Congress. {{cite web |url=https://www.ntuc.org.sg/uportal/about-us/affiliated-unions/food-drinks-and-allied-workers-union |title=FDAWU – Food Drinks and Allied Workers Union |website=National Trades Union Congress}} {{cite web |url=https://www.fdawu.org.sg/about-us/the-history-of-fdawu |title=The History of FDAWU |website=FDAWU}}
References
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External links
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{{portalbar|Supermarkets|Companies}}
{{Singapore supermarkets}}
Category:Supermarkets of Singapore
Category:Retail companies established in 1973
Category:Convenience stores of Singapore