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Evolving Retail for the Smart Consumer

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