A subscription service is being planned by supermarket chain NTUC FairPrice and on-demand transportation/mobile payments platform Grab.

They have signed a memorandum of understanding to embark on a joint initiative to complement the online-to-offline lifestyle of consumers by offering better value, convenience and access to goods and services.

“Our strategic partnership with Grab signifies our ongoing efforts to cater to the evolving needs of the community,” says NTUC FairPrice CEO Seah Kian Peng.

Grab Singapore group CEO/co-founder Anthony Tan says the partnership will offer its customers extra discounts and perks from FairPrice. “With both supermarket and transport services as part of this initiative, we are thrilled to provide greater cost savings and convenience.”

A survey of more than 1000 customers between 20 and 40 years old has shown that 95 per cent are likely to subscribe to such services, while 56 per cent of respondents indicated they are not subscribed to a service. Groceries (69 per cent) and transport (54 per cent) also top the list of services they want from a subscription service.

Consumers opting for the Grab/FairPrice subscription service will be offered exclusive savings, rebates and access to services on groceries and transport. It is targeted for launch this first quarter.