• More than 300 new products across 54 categories launched since 2020

Singapore, 31 July 2023 – FairPrice Group (FPG) today reinforced its commitment to help
consumers moderate the cost of living by delivering even more variety and value to customers
through its own brands portfolio of products.

With the protracted inflationary environment and a looming recession, Singaporeans are
proactively seeking more value in FPG’s own brand products with 1 in 3 physical shopper
baskets and more than 7 in 10 online baskets containing house brand products at checkout.

Grace Chua, CEO, FairPrice Group’s Own Brands & Food Solutions (OBFS), said that Own
Brands products are FPG’s way of strengthening its purpose to moderate the cost of living
especially in today’s uncertain economic climate. “We understand that our customers are
sensitive to knock-on effects of global commodities prices, labour shortages and rising utility
prices leading to price inflation. With that in mind, we believe that FairPrice Group’s own brand
products from everyday items like rice, oil and eggs to ready-to-cook packaged foods are
helping customers to keep household expenditure in check.”

At present, the business offers over 2000 products across 54 categories, with more than 300
products launched since 2020. It has also expanded its range to cater to fast-growing and
popular categories such as ready to cook, bread spreads, sweet & savoury indulgence foods,
biscuits, noodles, baking needs as well as household cleaning products. Recent launches of
products such as the FairPrice Truffle Potato Chips, Peanut Butter and Coconut Potong ice
cream have also been met with positive reception and sales. OBFS plans to continue expanding
its own brand assortment over the next few years, bringing in relevant and exciting products to
consumers.

In addition to the increased adoption at physical stores, members of FPG’s Link Rewards
Programme are also more receptive to own brand products with 22 per cent increase in
purchases from 1.2 million members in June 2020 to 1.5 million members in June 2023.

With customers seeing increased value in FairPrice Group’s OBFS products, the business is
looking to double its revenue from $500 million to $1 billion as it works towards 1 in 4 customers
filling their basket with at least one Own Brands product by 2030.

Vipul Chawla, Group CEO for FairPrice Group said, “We remain laser focused on our mission to
help moderate the cost of living for our customers. With Own Brands products, our customers
will be able to access quality and value at a more affordable and accessible price range. We
hope to make daily staples and everyday treats easier on the wallet.”

Serving more discerning and sophisticated palettes

With Singaporeans becoming more exposed to international cultures and cuisines, the local
palate, tastes, and consumption patterns have also diversified. This is inline with a global trend 1
where despite the flock to value amidst rising inflation and cost of living, there is also selective
splurging on purchases that provide more experience, convenience, and immediate gratification.

Chua added, “We have definitely seen consumption patterns changing, especially in the growth
of health & wellness products, specialty categories such as olive oils, frozen ready to cook
products as well as indulgent categories like snacks, chocolates and wine which have all seen
double-digit growth compared to pre-COVID-19 levels.”

In response to consumers’ growing demand for experiential and international products, OBFS
has also developed a portfolio of award-winning 2 consumer brands that have received regional
recognition from the industry such as Golden Chef, Delicato, Harvest Fields, and Just Wine.

1 Source: Mckinsey – the world of ‘ands’: consumers set the tone
2 The brands have attained awards regionally, including Retail Asia Awards, FMCG Asia Awards and International Wine Awards