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.
in the long run, people would begin to look for quality and value for their grocery purchases.