AS A SOCIAL ENTERPRISE, NTUC FairPrice’s social mission to moderate the cost of living in Singapore is at the core of its business. The current COVID-19 pandemic has made it more resolute to ensure the availability and affordability of daily essentials and create greater social impact for its consumers.
Over the years, the FairPrice housebrand range of products, which is priced at least 10 per cent cheaper compared to leading brands, has helped defray daily expenses and provided good quality everyday essentials for Singaporeans. Rice, being the key food staple of Singaporeans, is one of the daily essentials of which FairPrice ensures undisrupted supplies and stable prices. FairPrice maintains a stockpile to ensure that they remain available for its customers.
To further extend the support for Singaporeans amid the COVID-19 pandemic, FairPrice held prices of 100 housebrand everyday essentials for the whole of 2020, following the launch of the price freeze initiative in March 2019, providing a total of $25.2 million in savings to its customers. Not only did this help cushion Singaporeans against potential price increases and supply disruption, the price freeze also acted as a benchmark for prices of everyday essentials, ensuring they remain affordable in Singapore.
Not forgetting the needy community during times of crisis, FairPrice, through its charity arm FairPrice Foundation, donated 500,000 bowls of white and brown rice and 50,000 bowls of oatmeal to benefit 7000 underprivileged families and individuals via the 12th instalment of its community walking initiative ‘FairPrice Walk for Rice+ @ South East 2020’. This community walking initiative was modified to include a virtual walkathon in view of safe management measures due to COVID-19.