Essay About Ntuc Fairprice And Fairprice’ Name

Commercial Law Chris and Wayne
Section 1: Description of the company (1.1) , the nature of its business (1.2) and any other relevant facts (1.3):1.1: NTUC Fairprice is a supermarket chain that started with a social mission to help manage and keep the cost of living low since 1973 by the labour movement.  They started with one supermarket in Toa-Payoh and have expanded to Singapore largest retailer with a wide span of 120 branches nationwide. 1.2: ‘Fairprice’ is categorized under the retail industry; they focus on selling and providing daily commodities in their core business to their customers. Similar to their ‘Fairprice’ name, their target audiences are ones from the low and middle income spenders. For example, Fairprice business is generally at its peak after office hours (7-9pm) as most shoppers will tend to go for their grocery purchases after their work commitments, it’s just the nature of its business.

1.3: ‘Fairprice’ also launched a “Big Value Bag: Made for Singapore” program that helped fellow shoppers save $20 million dollars by providing a 10 percent discount on over 1000 ‘Fairprice’ house brand products such as:  Staple foods like rice, oil and bread, canned products, fresh and frozen foods, toiletries and household items. These discounts made daily essentials more affordable and assisted Singaporeans to cope with the rising cost of living.Section 2: Provide a PESTEL analysis of the companyEnsure you include all of the factors; describe the factor and how your company is affected by the factor.NTUC Fairprice Co-operative Ltd was founded by the labour movement in 1973, with a social mission to become Singapores largest retailer serving about 430,000 shoppers daily, with a network of over 120 outlets, comprising FairPrice supermarkets, FairPrice Finest and FairPrice Xtra. Its convenience stores, FairPrice Xpress and Cheers, has a network spanning over 160 convenience stores islandwide and serves over 100,000 customers daily. NTUC FairPrice also owns a Fresh Food Distribution Centre and a centralised warehousing and distribution company.