NTUC FairPrice today announced that the cooperative will be investing $40 million this year to expand its business network and upgrade its stores and retail management systems. The announcement was made at the official launch of its third FairPrice Xtra store, in conjunction with the second anniversary of its hypermart retail format.
FairPrice has scheduled to open four new stores this year. The new outlets in Yew Tee Point and Joo Chiat Complex have already been opened. Another two new stores will be opened in the second half of the year, one in City Square Mall and another in Hougang. FairPrice will also convert one of its existing stores to FairPrice Finest due to growing popularity of FairPrice Finest with its customers.
Mr Ng Ser Miang, NTUC FairPrice Chairman, said, “The $40 million investment this year will further expand our business and upgrade our stores and systems to serve customers better. Apart from this, we are also reinforcing our ongoing Customer Centric Initiatives to enhance service standards. We will continue to innovate and refresh our business to meet tomorrow’s challenges.”
The latest hypermart is part of NTUC FairPrice’s plan to serve customers better. Spanning over 68,000 square feet at the third storey of Jurong Point’s new extension, this 24-hour store offers a wide assortment of products including fresh food, groceries, electronic products, household appliances and a wide selection of casual and basic apparel. There are also two dedicated check-out lanes exclusively for FairPrice Plus and Uplus card members.
Mr Ng asserted, “The success of FairPrice Xtra has given us good reasons to open our third hypermarket in Jurong Point to serve the needs of the growing population in the Western region of Singapore. NTUC FairPrice is constantly evolving to meet the changing needs and lifestyles of our customers. This new 24-hour hypermarket caters to the growing trend of shoppers who keep later hours as well as to those who work night shifts.”
The first FairPrice Xtra at AMK Hub was officially launched in March 2007 (the store opened in December 2006) followed by a second store in Hougang Point in 2007.
Besides reaching out to its customers, FairPrice also cares for the community it serves. As part of its efforts to engage and support the community during these difficult times, NTUC FairPrice Foundation today contributed $100,000 towards Loving Heart Multi-Service Centre’s Pupil Breakfast Programme.
Now in its fourth year, this programme provides free breakfast to needy students from selected schools in Jurong GRC. This year, with FairPrice Foundation’s donation, the Pupil Breakfast Scheme will benefit 510 students from 17 schools, up from 14 schools in 2008. The three new participating schools are Yusof Ishak Secondary, Pioneer Primary and Pioneer Secondary.
Mr Ng added, “FairPrice Foundation is proud to support this ongoing initiative. This contribution to the Pupil Breakfast Programme of Loving Heart Multi Service Centre will help needy children start the day right with a hearty breakfast.”
Since its launch in March last year, FairPrice Foundation has contributed $7.2 million to the community. This year, the foundation is committed to contribute at least 20 percent more to help provide a better life for the community at large.