There is ongoing growth in Singapore’s supermarket sector with the country’s largest food retailer, NTUC FairPrice planning to open six new supermarkets and one hypermarket this year. That will bring the number of FairPrice stores in Singapore to 112.
The retailer is also expanding offshore, opening its first hypermarket in Vietnam this year. The project is a joint venture with the Saigon Union of Trading Co-operatives which runs a chain of Co-op Mart supermarkets in Vietnam.
FairPrice is building a new distribution centre and office complex to support its growth.
One of Singapore’s other leading supermarket businesses, Dairy Farm Group, is also opening new branches. The number of Cold Storage outlets will rise from 44 to 48 in the first half of 2012 and a seventh Market Place supermarket will open in 2013.
Ziena Jalil, NZTE’s Trade Commissioner in Singapore, says the growth will fuel demand for new supplies to stock supermarket shelves.
“A number of the new outlets will offer a wide range of gourmet items so there is a real opening for quality food and beverage products from New Zealand.”
Given the fiercely competitive marketplace, Singapore supermarkets are also focused on improving the service they provide to customers.
FairPrice is rolling out self-service checkouts in its stores and a number of supermarkets are introducing electronic shelf labelling. The digital tags are downloaded from a central pricing system, saving supermarkets up to 50 labour hours a month.
Another important Singapore supermarket chain Sheng Siong already has electronic labelling in 20 of its 25 stores.
Singapore’s supermarket business is estimated to be worth more than NZ$4 billion dollars.
“Supermarkets are constantly looking for an edge and introducing international brands can be a strong point of difference,” says Ms Jalil.
To find out more about selling food and beverage products in Singapore, contact winston.ong@nzte.govt.nz
