OfficialWire, 19 Jul 2009
Moving to the mass grocery retail (MGR) sector, Q109 saw Singapore’s NTUC Fairprice announce plans to invest US$26.7mn expanding its network and upgrading its existing stores. The company hopes to take advantage of the expected increase in sales through modern retail outlets, which are forecast to increase 32.7% to US$3.82bn by 2013. With the worsening economic situation consumers are becoming more price conscious, therefore eating out less and retailers such as NTUC Fairprice are picking up the slack and benefiting from the increase in sales this brings them.
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