, Singapore
128 views
Photo by Matheus Cenali: https://www.pexels.com/photo/assorted-vegetable-lot-2733918/

FairPrice to offer discount offsetting GST raise

The discount will be implemented on national brands and house-brand groceries.

FairPrice Group (FPG) will implement a 1% discount on 500 essential items for the first six months of 2024 to offset the 1% goods & services tax (GST) increase for the said products.

In a statement, the company said the initiative will be implemented across all FairPrice supermarket retail formats, including FairPrice Online, and will be extended to the members of the Pioneer Generation (PG), Merdeka Generation (MG), Community Health Assist Scheme Blue cardholders (CHAS).

ALSO READ: FairPrice Group commits $2.9m to help SMEs in cash flow and business survival

These essential items will be composed of national brands and house groceries such as fresh fruits, vegetables and meat, staples, dairy, paper products, detergents and household cleaners.

The GST will be increased to 9% from 8%, starting on 1 January 2024.

“Despite significant inflationary pressures, FairPrice Group remains steadfast in our commitment to alleviate the rising cost of daily essentials, particularly for the more vulnerable among us. It is clear that in the current economic environment, our customers are watching their spending more than ever,” said Group CEO Vipul Chawla.

Meanwhile, FPG will also extend the discounts to PG, MG, and CHAS members until 31 December 2024.

Since 2019, the company has returned S$780m (US$584.1m) through discounts, rebates, and donation schemes. In 2022, it returned over S$200m (US$149.8m) to the community and is expected to repay the same this year.

 

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

MR.DIY reaches 500-store milestone in the Philippines
The brand was first launched in the country with its inaugural store in Balagtas, Bulacan.
Stores
E-Mart to open the first branch in Laos
LVMC Holdings has partnered with the retailer to expand the brand in the country.
Stores

Exclusives

Alfamart’s rapid expansion never overtakes quality service
With 19,087 across Indonesia and 1,680 more in the Philippines, the minimarket operator marks 25 years as a top choice for shopping.