Ravi Chandran
Enterprise Singapore and FairPrice Online launch YummySG! initiative to help food manufacturers diversify revenue streams and go digital
Enterprise Singapore (ESG) and FairPrice1 Online, NTUC FairPrice’s e-commerce platform, on September 25th, launched YummySG!, an online initiative that provides Singapore food manufacturers with an additional platform to diversify their revenue streams. This is part of ESG’s continuous efforts to support Singapore businesses to start selling online, since the launch of its E-Commerce Booster Package2 in April this year.
Enterprise Singapore is the government agency championing enterprise development. it works with committed companies to build capabilities, innovate and internationalise. It also supports the growth of Singapore as a hub for global trading and startups, and build trust in Singapore’s products and services through quality and standards.
NTUC Fairprice Co-operative Ltd was founded by the labour movement in 1973, with a social mission to moderate the cost of living in Singapore. From one supermarket, it has grown to become a leading retailer in Singapore serving more than half a million shoppers daily through a network of over 370 outlets, comprising FairPrice supermarket, FairPrice Shop, FairPrice Finest, FairPrice Xtra, Unity Pharmacy, FairPrice Xpress and Cheers convenience stores. Its e-commerce portal, FairPrice online, draws over 700,000 visitors monthly. FairPrice also owns a Fresh Food Distribution Centre and a centralised warehousing and distribution company.
Today, with its multiple retail formats serving the varied needs and interests of people from all walks of life, NTUC FairPrice has kept pace with the changing needs of its customers while remaining committed to its social mission and its aspiration to be Singapore’s leading world-class retailer with a heart.
NTUC FairPrice was recognised as the strongest local brand in Singapore, according to the Asia’s Top 1,000 Brands survey by Campaign Asia. The E-Commerce Booster Package supports SME retailers, who have little or no e-commerce experience, to diversify their revenue channels through leveraging e-commerce and digital marketing to reach new customers locally and overseas. Examples of food manufacturing companies which have leveraged the package includes Sin Mui Heng Food Industries and Tanglin Gin.
Hosted on FairPrice Online’s Marketplace (FairPrice Marketplace) platform, YummySG! brings together local products under the Singapore brand, providing higher visibility to consumers and differentiating them from other international products. Participating companies can leverage the platform to list their new products and potentially reach out to 1.5 million shoppers monthly. These are products which are not listed on other major traditional and online supermarkets.
Through this initiative, participating companies will benefit from:
- Increased marketing efforts: FairPrice Marketplace will enhance its publicity efforts to reach out to their database and drive traffic to these local products.
- Data and insight sharing: Data shared will include online sales information and traffic to product listings, which can in turn help them refine their online strategies to improve sales.
- Capability building efforts: ESG will work with food manufacturers to build up their capabilities in areas including product development and packaging design, as well as to learn more about retail strategies that would be relevant for the platform.
ESG is working closely with FairPrice Marketplace to curate the products for YummySG!, as well as facilitate the partnerships between participating companies and FairPrice.
Said Ms Dilys Boey, Assistant Chief Executive Officer, Enterprise Singapore, “The rising trend of online consumption, including for food products, has been compounded by the COVID-19 situation. Our partnership with FairPrice allows food manufacturing companies to leverage a collective branding and an established platform with good reach to expand on their sales channels and reach out to more customers online. At the same time, through YummySG!, they will also be able to test the receptiveness of consumers to new products that they create. This, in turn, will enable them to adjust their strategies for scaling up.”
Said Ms Deepti Lad, Head, FairPrice Marketplace & B2B, “FairPrice Marketplace, in partnership with Enterprise Singapore, will nurture and serve as a launchpad for our local SMEs through the YummySG! initiative. This will enable our SMEs to take charge of their digital transformation journey with a convenient and efficient e-commerce store to grow their business. FairPrice has always been supportive of our local SME partners and we believe in working together with them to support their business development growth as part of our social commitment. We look forward to welcoming more SMEs who look to leverage YummySG! on FairPrice Marketplace to kick-start their digital transformation journey.”
Participating companies thus far include Chocoworks, Nature’s Field Snacks Manufacturing, Sheng Aik Trading and Thong Siek Food Industry.
Said Ms Jenice Tan, Director, Nature’s Field Snacks Manufacturing, “As a snack manufacturer which has been operating through traditional channels over the years, Enterprise Singapore’s and FairPrice Marketplace’s YummySG! initiative could not have come at a better time. This is a great opportunity for brands like us to gain visibility and reintroduce ourselves through the YummySG! initiative by tapping FairPrice Online’s wide customer base. We are looking forward to seeing how things pick up.”
Other food manufacturers keen to come on-board YummySG! can visit the ESG website to register their interest and find out more. FairPrice Marketplace will provide all operations and technical support for participating companies.
Mr Paul Ho, chief officer at iCompareLoan, said: “the digital transformation is reshaping every sector, every industry. Companies cannot operate in the old paradigm and it is good that Enterprise Singapore is helping industries to scale up to take advatage of the new landscape.’
He added, “The digital transformation is also changing the landscape for the real estate and finance sector. In this environment, companies have to reinvent themselves quickly.”
