SINGAPORE, 27 November 2023 – FairPrice Group (FPG) today announced strategic initiatives to assist Singaporeans amid stubborn inflation and the resulting unprecedented rise in the cost of living.
In anticipation of the Goods & Services Tax (GST) increase from 8 per cent to 9 per cent from January 1, 2024 onwards, FPG will absorb the one per cent GST increase on 500 essential items for the first six months of 2024. This will effectively offset the 1 per cent GST hike for these products. This initiative will apply across all FairPrice supermarket retail formats1, including FairPrice Online.
In addition, FPG will also extend its discount schemes for members of the Pioneer Generation (PG), Merdeka Generation (MG), and Community Health Assist Scheme (CHAS) Blue cardholders.
To help moderate the cost of living for all in Singapore, FairPrice Group has returned more than S$780 million in the form of discounts, rebates and donations to the community since 2019. In 2022, it returned more than S$200 million to the community and expects to do the same this year.
Mr Vipul Chawla, Group CEO, FairPrice Group, said, “Despite significant inflationary pressures, FairPrice Group remains steadfast in our commitment to alleviate the rising cost of daily essentials, particularly for the more vulnerable among us. It is clear that in the current economic environment, our customers are watching their spending more than ever. FPG will continue to work hard to help all in Singapore make every dollar count so as to maintain their quality of life and feed their families well.”
Cushioning the impact of GST increase in 2024
FPG’s latest 1 per cent discount on 500 essential items for the first six months of 2024 comes as part of its ongoing commitment to support the community during GST adjustments. The Group had previously provided discounts during the introduction of the 3 per cent GST in 1994, the increase from 5 per cent to 7 per cent GST in 2007, and the increase from 7 per cent to 8 per cent GST for 500 essential items in the first six months of 2023.
The basket of 500 essential items is curated by FPG to include household essentials that are most in need, and purchased by customers frequently. They comprise national brands and housebrand groceries such as fresh fruits, vegetables and meat, staples, dairy, paper products, detergents and household cleaners.
Pioneer Generation (PG), Merdeka Generation (MG) and CHAS Blue discount schemes extended until the end of 2024
FPG currently offers the discounts below to help seniors in the Pioneer and Merdeka generation, and underprivileged families. These daily benefits will be extended till 31 December 2024.
Mr Chawla added, “providing a 1 per cent discount to offset the GST increase and extending our FairPrice PG, MG and CHAS Blue discount schemes are just a few strategies we have in place to ensure that the community gets the support it needs to keep daily essentials within reach.”
FairPrice Group Retail Business discount schemes
|PG Discount Scheme
|All FairPrice supermarkets, FairPrice Shop stores, FairPrice Finest outlets, FairPrice Xtra hypermarkets, FairPrice On Wheels and Unity pharmacies
|Seniors Discount Scheme
|PG & MG Discount Scheme
|CHAS Blue Discount Scheme
|Special GST discount on 500 essential items (1 Jan to 30 Jun 2024)
|All FairPrice supermarkets, FairPrice Shop stores, FairPrice Finest outlets, FairPrice Xtra hypermarkets, FairPrice On Wheels, FairPrice Online
|NTUC Union Members and Link Members earn Linkpoints
To be able to benefit from these discount schemes, eligible customers only need to present their membership cards (PG, MG or CHAS Blue card) at cashiers upon checking out their purchases. At self-checkout counters, customers must select the relevant PG, MG or CHAS Blue card discount option. These discounts are valid for up to S$200 per transaction per day.
1 Formats include all FairPrice supermarkets, FairPrice Shop stores, FairPrice Finest outlets, FairPrice Xtra hypermarkets.