FairPrice expanding hypermarket chain

SINGAPORE: NTUC FairPrice said it is expanding its chain of hypermarkets to increase accessibility for customers, with the launch of its fourth outlet at Nex mall in Serangoon on Tuesday.

FairPrice said it expects to have six hypermarkets in Singapore by 2013, at least one each in the North, South, East and West heartland areas of Singapore.

Ng Ser Miang, the chairman of FairPrice said, "We always believe in co-existing with smaller proprietors. And the example of Ang Mo Kio Hub, we bring in a lot of traffic so the small provision shops also benefit from it. And because of the size and the different range of products that we carry, so we serve different segments as well."

He added, "The hypermarket format has helped to contribute to the economies of scale that we are able to negotiate for better prices. We have been concerned with the inflation since last year, so we are able to stockpile more rice for example, so we are able to hold the price of rice till August. And for the 500 essential items, we have promised to hold prices and even give discounts until May."

ORIGINAL SOURCE