FairPrice Group’s 50-Year Milestone: Pioneering the Future of Retail with Value, Convenience, and Customer Care
Singapore’s retail landscape has been significantly shaped by FairPrice Group (FPG), the country’s largest retailer and social enterprise. Celebrating its 50th anniversary this year, FPG continues to lead the way in moderating the cost of living, fostering innovation, and supporting the vulnerable in the community. In this article, we delve into the core values and initiatives that have made FFG one of Singapore’s most influential and trusted brands.
Keeping daily essentials affordable and within reach for all in Singapore
At the heart of FPG’s success lies its unwavering social mission to moderate the cost of living for all in Singapore. This has been FPG’s cornerstone since its founding in 1973, and the fuel behind it’s growth and innovation. Celebrating its 50th Anniversary this year, FPG has grown to become the largest retailer and social enterprise in Singapore.
In times of economic uncertainty, FPG stands as a beacon of stability, benchmarking prices to ensure access to daily essentials for all. Initiatives such as its Own Brands line of products that are priced 10-20% lower than alternatives, and targeted campaigns for communities in need such as the elderly and disadvantaged – including Share-A-Textbook, Singapore’s largest textbook donation drive, FPG on Wheels, an initiative to bring essential items directly to the doorsteps of those without easy access to groceries, and the Community Fridge Restock Initiative, aimed at providing underprivileged families with access to fresh fruits and vegetables – exemplify FPG’s dedication to its core social mission, and supporting the vulnerable. In 2023, the company collaborated with 100 community partners and schools to drive social impact and support the vulnerable, and tripled volunteering within the organization for community causes.
Innovation as a Cornerstone
FPG’s success is not solely rooted in affordability; it is driven by a commitment to innovation. By constantly laying out the groundwork for the future of the business, FPG has been able to reinvent consumer experiences to meet constantly changing needs. Technological integration has enabled FPG to implement omni-channel initiatives across the business that connect everything from payment, loyalty programmes, to in-store and online shopping.
Scan & Go, first launched in 2019, is a first-in-Singapore initiative that revolutionizes the payment experience for customers by enabling them to scan and pay for products directly through the FPG app, instead of queuing up at check-out counters. In March of this year, FPG opened its first completely self-service grocery store at the Sengkang Grand Mall, powered by technology featuring Scan & Go. The store, spanning over 13,400 square feet, is one of the latest examples of how FPG is creating the grocery experience of the future for its customers. FPG also spearheaded the disruptive launch of Trust Bank, a joint venture with Standard Chartered Bank and Singapore’s first digital bank. Trust has become one of the fastest growing digital banks in the world, having banked more than 12% of Singapore’s population in its first 12 months.Through these digital touchpoints, FPG has steadily grown its base of digitally connected customers to over one million.
Pushing the Boundaries of Retail
FPG has also honed the creativity of its teams to transform and elevate retail experiences through unique concepts. Blended lifestyle retail outlets, such as those in its VivoCity and Parkway Parade outlets, redefine grocery shopping with multi-zone concepts featuring vegetables grown and harvested in-store, curated offerings including ready-to-cook meals and artisanal bakes, and ‘Pick, Cook, and Enjoy’ concepts where shoppers can enjoy freshly cooked meals in-store paired with wine or cocktails. These initiatives are part of FPG’s commitment to redefine how customers interact with the brand.
Beyond groceries – FPG’s commitment to sustainability shines through initiatives like ‘No Plastic Bag,’ saving over 57 million bags in 2022
Serving the Community with Purpose
Beyond retail, FPG embraces corporate and social responsibility as part of its commitment to leaving a positive impact on the environment, and communities it operates in. In 2019, FPG introduced charges for disposable plastic bags, the first supermarket in Singapore to do so. Annual campaigns like Share-a-Textbook, and comprehensive food waste reduction programs with partners like The Food Bank Singapore highlight FPG’s dedication to promoting, sustainability, sharing, and circularity, and nourishing underprivileged individuals and families.
As we traverse the 50-year journey of FPG, its narrative transcends retail success. Beyond profit, a profound story of purpose, innovation, and social responsibility emerges. FPG, born from a mission to moderate the cost of living for all in Singapore, has not only stood the test of time but has grown into a trusted beacon in the retail landscape.
The blend of affordability and innovation, epitomized by community-driven initiatives and engagements, paints a picture of a brand that not only adapts to change but anticipates it on behalf of its customers. FPG’s commitment to sustainability adds another layer to its narrative, making it not just a retailer but a custodian of a shared future.
As we stand at the intersection of the past and the future, the legacy of FPG beckons us to ponder the depths of socially conscious retailing. How can a brand, rooted in moderation, innovation, and service, influence not just what we buy but how we perceive the very essence of community and shared responsibility?