Singapore’s largest supermarket operator NTUC FairPrice has unveiled a new budget banner and format today, imaginatively named FairPrice Shop.

The official opening ceremony of the first store was underway this morning in Eunos Crescent – the store will be called FairPrice Shop@Eunos.

“As FairPrice continues to serve its social mission to moderate the cost of living in Singapore, it will be launching a new retail format, FairPrice Shop, targeted at budget conscious shoppers,” the company said.

“The format will feature a more focused range of products offering greater value, including the

introduction of an exclusive range of housebrand fresh produce, which is five to 10 per cent cheaper than FairPrice’s existing housebrand fresh produce line. FairPrice Shop will be located primarily within mature estates with a higher concentration of low-income families.”

The store was formally launched by Lim Boon Heng, chairman of NTUC Enterprise, and associate professor Fatimah Lateef, MP for Marine Parade GRC (Geylang Serai), who were hosted by Bobby Chin, chairman, NTUC FairPrice.