Giant supermarket stores in Singapore have launched a campaign reducing the price of hundreds of grocery products on a long-term basis, part of a multi-faceted strategy to reposition the chain in the city state.
Dubbed ‘Lower Prices That Last’ the campaign coincides with a refreshed brand logo and a progression of refurbishments of the 53 Giant stores in Singapore, aimed at highlighting the brand’s commitment to fresh and in-store prepared foods.
New stores have in-house bakeries and fried chicken counters branded Uncle Jack, loose rices and spices for shoppers to buy in the volume they wish, in-store Guardian pharmacies, a Dollar Zone (where every product on display is priced at SG$1) and a World of Food department the company says helps shoppers source products from different countries in an era when Covid-19 has prevented international travel.
The revamp has included the addition of about 2000 new products to a standard store range.
The company has also shaken up its own-brand labels – the budget-driven Giant label and the slightly more premium Meadows, which is positioned as about 20-per-cent cheaper than the leading brand in respective categories.
Chris Bush, Dairy Farm CEO for Southeast Asia Food Business, said the Lower Prices That Last strategy, that has cost around US$12.4 million to implement, is no gimmick. “This is real. This is our largest single investment in lower prices in over a decade. We have listened and acted on what our customers have told us on what matters most to them in these tough times – lower prices, better-quality fresh food and an improved shopping experience.”
The average reduction in price on products is about 20 per cent, with some adjustments minor and some higher than that figure.
Unlike the usual short-term discount grocery promotions, which will still continue, the Lower Prices That Last will be in stores for a minimum of six months.
Bush says customer research conducted over the last four to five months showed the pandemic has made Giant consumers “very anxious” about their futures. “Covid has created a new world for so many people. When it comes to essential products, they are looking for stability and low prices.”
Giant management say the price reductions have been made possible through discussions with suppliers and work to reduce costs throughout the supply chain.
Bush said Giant is working hard to improve store operations and hygiene standards, product availability and service levels.
“We remain committed to continuously improving to serve our customers the best we can, because we understand the importance of providing our customers with a better store experience.
“These prices are going to shock and rock the market.”