evolving retail for the smart consumer
TRANSCRIPT
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Evolving Retail for
the Smart Consumer
Mr. Seah Kian Peng
CEO, NTUC Fairprice Co-Operative
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First store opened in 1973 as NTUC Welcome Supermarket with 30 workers
Launched by the National Trades Union Congress amidst global oil crisis
Social Mission:
To moderate the cost of living in
Singapore
Our Heritage
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Vision
To be Singapore's Leading World-Class Retailer with a Heart
Mission
To provide customers with the best value, quality products and excellent service,
be a preferred employer, to moderate the cost of living in Singapore, and serve
the needs of our members, the labour movement and the community.
Best Place to
Shop
Best Place to
Work
Best Corporate
Citizen
Our Vision and Mission
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We operate:
• 116 Supermarkets
• 23 Finest Stores
• 7 Hypermarkets
• 1 Warehouse Club
• 160 Convenience Stores
• 62 Pharmacies
• and 1 Online Store
368Physical Store Points
FairPrice serves over 600,000 people in Singapore each day
>50%Share of Modern Trade
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The Evolving Landscape in Retail
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Rising inequality
and polarization
The Changing Face of Consumers
Segmentation
(Millennials, seniors,
young families)
Hyper-personalisation
“Everything, anywhere,
anytime, just for me”
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Consumer Wallet Fragmentation
Modern
Gourmet
ValueWellness
Online
Non-Modern
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The Technology Wildcard
Technology adoption presents a paradox of speed
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Convergence of Offline and Online
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Singapore’s Unique Challenge
Small & lack of scale -
Difficult to achieve economies of scale
High cost base –
Labour / rental costs
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Our Customer-centric Transformation
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Wheelchair-friendly accessibility at FairPrice supermarkets
Tailoring to Different Customer Segments
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In-store senior-friendly features at FairPrice supermarkets
Tailoring to Different Customer Segments
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Special discounts for seniors across formats
Tailoring to Different Customer Segments
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Tailoring to Different Customer Segments
Kids’ play area at FairPrice Xtra
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Celebrity family cooking activities at FairPrice Finest
Tailoring to Different Customer Segments
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Annual and Sustainability Report 2017
Being a Responsible Retailer
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FairPrice and the Sustainable Development Goals 2017
Being a Responsible Retailer
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FairPrice - CSR Food Waste Reduction Campaign
Being a Responsible Retailer
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Great Taste Less Waste initiative to reduce food waste
Being a Responsible Retailer
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First supermarket retailer in Southeast Asia to attain
RSPO membership
Being a Responsible Retailer
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Dedicated Bring Your Own Bag lanes
Being a Responsible Retailer
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Enhancing Customer Experience Through Technology
First unmanned and cashless convenience store in Singapore
Unified self-checkout systemNext-gen vending machines for
Ready-To-Eat food
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SCAN2GO Personal shopper system
1. Pick up Scanner 2. Scan products 3. Self-checkout
More service-oriented and productivity gains
Enhancing Customer Experience Through Technology
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Developing Omni-channel Grocery Retailing
Enhanced fulfilment centreRe-launch online shopping portal and
mobile app
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Brick and Mortar double up as
Click and Collect centres
Pilot automated and
refrigerated C&C lockers
Developing Omni-channel Grocery Retailing
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FairPrice-ExxonMobil Strategic Alliance (2007)
Leveraging Strategic Alliances to Drive
Stronger Customer Value
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SCORE Subscription Programme
(FairPrice-Grab)
Leveraging Strategic Alliances to Drive
Stronger Customer Value
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Tesco finest* store-in-store retail experience
(FairPrice-Tesco)
Leveraging Strategic Alliances to Drive
Stronger Customer Value
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Dave Lewis – Group CEO of Tesco
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Dave Lewis – Group CEO of Tesco
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FairPrice Share-A-Textbook, 1984
Here to Make Lives Better
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FairPrice Absorbs GST, 1994, 2003, 2007
Retrieved from The Straits Times and NTUC ThisWeek, 2007
Here to Make Lives Better
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FairPrice Share-A-Textbook, 2012
Here to Make Lives Better
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Plant a Future for the Community, 2013
Here to Make Lives Better
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FairPrice Walks With U, 2013
Here to Make Lives Better
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FairPrice Volunteers Programme (Chinese New Year Celebration)
@ Ren Ci Nursing Home, 2015
Here to Make Lives Better
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FairPrice Foundation donates S$1.2 million annually to the
FairPrice Food Voucher Scheme, 2016
Here to Make Lives Better
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FairPrice Foundation launches S$1.5 million milk fund scheme, 2017
Here to Make Lives Better
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FairPrice Foundation donates S$2.6 million annually to
NTUC U-Care Fund, 2017
Here to Make Lives Better
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FairPrice Foundation commits S$14 million to FairPrice
FairMily Kit, 2017
Here to Make Lives Better
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FairPrice Walk for Rice @ South East, 2017
Here to Make Lives Better
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One FairPrice Family Initiative, 2018
Here to Make Lives Better
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FairPrice’s Kampung Spirit, 2018
Here to Make Lives Better
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Donated more than S$92 million to
over 240 charity and grassroots organisations
to do good since 2006.
Here to Make Lives Better
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Here to Make Lives Better
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