Supermarkets expanding retail formats to cater to
specific needs of customers
SINGAPORE: Supermarkets have observed the growing needs of
their customers with some diversifying their business models to
cater to niche markets.
NTUC FairPrice is one such multi-format retailer and it
plans to multiply its business in two years.
The chain has a stable of 90 supermarkets, four of which are
FairPrice Finest, its boutique arm.
NTUC said it is looking to open more of these outlets along with
FairPrice Xtra, its hypermarket.
By doing this, it said it will cover a broad spectrum of
customers.
Some supermarkets have even introduced an online shopping service,
drawing young consumers.
- CNA/vm