NTUC FairPrice announced the return of its "Stretch Your Dollar" programme today to help consumers cope with inflation.
The programme, running from February 15 to May 31, comprises 10 cost saving tips that includes a 5 and 10 per cent discount on the cooperative's housebrand essential items.
Customers who hold the Plus! Visa or NTUC Plus! Card will enjoy a 10 percent discount over 500 FairPrice housebrand essential items, while non-cardholders will enjoy a 5 percent discount.
FairPrice Housebrand products set benchmark prices and are already at least 10 percent lower than national brands. The discount scheme will cost FairPrice an estimated $2.3 million and covers key daily needs like rice, bread, cooking oil to detergent and toilet rolls.
Other ways to save on costs at the supermarket chain include looking out for Yellow Dot items, Purchase with Purchase discounts, Must Buy special offers, Membership Rebate, LinkPoint discounts, Senior Citizens’ Discount.
FairPrice has launched various initiatives to moderate the cost of living in Singapore. In 2007, FairPrice absorbed the 2% GST hike on 400 essential items from July to December 2007, at a cost of $2.8 million. The “Stretch Your Dollar” programme was first introduced from December 2007 to December 2009.
According to FairPrice, its Housebrand essential items have remained largely unchanged as a whole for the last two years. Some items have even dropped in prices over this period. For example, FairPrice White Rice has decreased to its current price of $12.40, a 10% drop from prices in 2009.
Mr Seah Kian Peng, CEO, NTUC FairPrice, said: “We share our customers’ concerns about the increased cost of living and would like to assure them that FairPrice is committed to keeping daily essentials affordable. As a social enterprise, we are committed to helping to moderate the cost of living in Singapore. This is why, despite increased cost, we have managed to keep prices of essentials stable and have introduced new efforts to help our customers stretch their dollar.”