NTUC FairPrice to introduce 300 new house brand products over next 12 months
SINGAPORE — The NTUC FairPrice supermarket chain is looking to introduce 300 new house brand products over the next 12 months.
In a press release on Tuesday (8 October), FairPrice said the move comes as part of its effort to refresh its range of over 2,000 house brand products. The chain currently offers a range of house brand products under names such as FairPrice, Pasar, Harvest Fields, Golden Chef and Life.
“Our research shows that consumers want access to affordable products but they also want more than just the basics. They also want choice, quality, healthier products and convenience,” said Grace Chua, FairPrice managing director and deputy head of products.
Consumer insights
FairPrice said its move to deliver a wider range of products were based on its extensive consumer research. One such study involving 400 participants found that three in four shoppers were “open to purchasing house brand products, ranging from staples and fresh food to non-food items”.
“Consumers who purchased house brand products are also not limited to any particular consumer profile, where shoppers from low to high income households would consume house brand products,” said the release.
It added that a separate study surveying low- and medium-income households also revealed that price is not the only factor in making purchasing decisions. Lower-income shoppers – defined as those with household incomes of less than $3,600 – are willing to spend more more for quality and health, and growing to be more discerning about their purchases, according to the study.
Keeping things affordable
The supermarket chain said its house brand products, which are sourced from over 55 countries, are priced 10 to 20 percent lower than comparable national branded products.
By the second quarter of next year, it will also put together a consumer advisory panel to develop new house brand products.
In March, FairPrice froze prices on a basket of 100 house brand products until 30 June 2020 to “protect Singaporeans from any price fluctuations”. This basket was selected based on daily essentials such as rice, oil, beverages, toiletries and household cleaners.
New look
Along with announcing the new items, FairPrice launched a redesigned look for its house brand products. Thirty products featuring the new look – such as Thai Hom Mali rice, olive oil, green tea, facial tissue and potato chips – is available from Tuesday onwards.
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