Singapore – “Hundreds of everyday essentials” sold by Giant supermarket will have lower prices by an average of 20 per cent for at least six months to help customers cope with financial difficulties amid the Covid-19 pandemic.
Beginning Thursday (Sept 24), Giant patrons can expect price reductions on food and non-food items from local and international brands, said the supermarket’s owner, Dairy Farm Group, in a channelnewsasia.com report.
Market research has shown that cost of living concerns are at the top of consumer’s minds during the pandemic, said Dairy Farm’s chief executive officer for its South-east Asia food business Chris Bush in a media conference on Wednesday (Sept 23).
“The one thing that they told us loud and clear is that they would like cheaper prices, they’d like greater value, and they’d also like more stable prices, particularly on those essential products that they buy most often,” said Mr Bush.
A total of 650 daily essentials, costing Giant around S$17 million, will be sold at lower prices by 20 per cent on average for the next six months.
Giant also plans to refresh its brand by incorporating new features into its 53 Singapore stores, reported straitstimes.com. In-store bakeries, Guardian pharmacies, S$1 zones, and about 2,000 new products are a few examples of the improvements.
The news on the price reduction garnered mixed responses from the online with many wondering if other supermarkets would follow suit.
Others expressed their worry if this would translate to an increase in prices for other non-essentials or a decrease in the quality of the goods sold.
Meanwhile, Facebook user Ivory Loy shared an incident of deceptive pricing when she had allegedly purchased two packs of a six-pack Milo at Ghim Moh Giant for S$6.95. “The stated usual price is S$4.45 each. But when I lifted up the sale tag, I was shock(ed) to see that the usual price is actually S$3.55.
“When the markup is 50 per cent, what is 20 per cent down?” asked Facebook user James K S Tan, implying that prices had been increased before the price reduction.