New book 'The Price of Being Fair' chronicles FairPrice’s 50-year journey to become Singapore’s dominant supermarket chain and food enterprise. Read more at straitstimes.com.
SINGAPORE - In 2019, supermarket chain FairPrice carried out its first major survey of consumers to find out where it stood among Singaporeans of different income groups, after growing talk that it had gone “atas” and strayed from its original mission of keeping prices affordable.
The Price Of Being Fair, edited by Sue-Ann Chia and Peh Shing Huei of content agency The Nutgraf, tells the story of Singapore’s top grocery retailer, charting its ascent, from the opening of the first store in Toa Payoh in 1973 to becoming a food enterprise with a turnover of $4.3 billion. ”If we win in serving the middle-and upper-income households but lose our ground and relevance when it comes to lower-income households, we would have lost the plot and failed,” said Mr Seah.
When Mr Vipul was set to join the group in April 2022, he was told by a friend to “do something about eggs”. The first customer he spoke to also raised concerns about the soaring prices of eggs. The book captures how FairPrice prevailed against French supermarket giant Carrefour, but of perhaps greater interest is the stratagems being used in its ongoing rivalry with fellow home-grown chain Sheng Siong, which has leapfrogged Cold Storage to become the second-largest supermarket chain here.
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