NTUC FairPrice won the consumers’ trust to achieve the Platinum Award for Singapore supermarket chains at the Reader’s Digest Trusted Brand Awards ceremony yesterday. This is the fifth consecutive year that FairPrice has received this award. In the local cooking oil and rice product categories, FairPrice’s Housebrand cooking oil and rice also clinched the Gold Awards for the fifth and second consecutive year respectively.
The coveted Platinum Award is the highest accolade given to a brand in each category at the Reader’s Digest Trusted Brand Awards. It is only awarded to the brand with scores three times or more compared to its closest competitor or has a score that is at least twice that of the closest competitor with an average rating of at least 4 out of 5 points for the qualitative criteria.
“We thank our customers for their votes of trust in FairPrice. Having received this award for the fifth consecutive year is testament to all the efforts that we have put in to provide quality products at best value and service to our customers. As a trusted brand, we know that it is important not only to serve our customers well but also to serve the needy in the community and join hands with our customers in protecting our environment. As a trusted brand, it is our responsibility to do the right things for our customers, our community, our staff and the environment,” said Mr Seah Kian Peng, CEO (Singapore), NTUC FairPrice.
FairPrice Housebrand cooking oil achieved its first Gold Award in 2008, while FairPrice Housebrand rice first clinched its Gold Award in 2009 and won the same award in 2011. Currently, there are 13 types of FairPrice Housebrand rice and 14 types of FairPrice Housebrand cooking oils to cater to different customer needs and budgets. As part of its social mission to help customers stretch their dollar, FairPrice offers over 2000 essential quality housebrand products that are priced at least 10% cheaper than comparable national brands.
FairPrice currently has over 100 stores, serving over half a million customers daily, in various formats which include FairPrice supermarkets, FairPrice Finest and FairPrice Xtra hypermarkets. A large part of its profits is contributed to FairPrice Foundation to help provide a better life for the community. Since the Foundation was set up in 2008, it has given back over $32 million to the community, mainly to provide financial relief to the needy. It also has in place an established Corporate Social Responsibility framework that focuses on responsible retailing, caring for the community, contributing towards a sustainable environment and caring for its employees. It recently announced a structured volunteer programme which sets to achieve 2,300 volunteering hours per year by 2016 so that employees can give time back to the community as well.
Voted by consumers – Reader’s Digest
The annual Reader’s Digest Trusted Brand Survey, an established 14-year consumer-based measurement of brand preference, is performed across 8 Asia markets (Singapore, China, Hong Kong, India, Malaysia, the Philippines, Taiwan and Thailand). In each market, respondents are asked to name their most trusted brand in each category and give each brand name a rating from 1 (Poor) to 5 (Excellent) on six qualitative criteria: Trustworthiness and Credibility, Quality, Value, Understanding of Customer Needs, Innovation and Social Responsibility. The survey is conducted in partnership with Ipsos this year, one of the world’s leading custom research firms.
The Reader’s Digest Trusted Brand Awards reflect consumers’ most trusted and preferred brands among the thousands in the market.
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