Despite the annual membership fee charged by NTUC FairPrice’s warehouse club in Singapore, more and more Singaporeans do not mind paying this fee when they see the bigger picture of the cost savings they will accumulate. Warehouse clubs offer a smaller product range compared to supermarkets and hypermarkets.
The Warehouse Club targets mass consumers who are driven by value-for-money purchases and seek great deals. Moreover, the company sometimes sells exclusive merchandise not carried by other grocery retailers, encouraging people who want these products to sign up as members.
Value sales for the Warehouse Club are predicted to rise over the coming years, especially since it is the only format of its kind in Singapore and is perceived as a lifestyle destination store.
The only operator of warehouse clubs in Singapore remains NTUC FairPrice, which has been in Singapore since 2014. Positioned as a family-centric retail destination, the warehouse club provides an expansive selling space, offering value, bulk and multi-packs.
The front of the store in particular boasts all of the best deals, including “Super Deals” and “Clearance Sales”. Moreover, the section dedicated to products priced at SGD2 like Daiso is naturally a hit with Singaporeans and creates an additional pull factor.
Having leveraged its huge pre-existing clientele, NTUC FairPrice has an edge in the warehouse club format, which imposes a high entry barrier on other grocery retailers, along with the difficulty of opening new warehouse clubs due to space constraints in Singapore. This implies that NTUC FairPrice is expected to remain the sole operator of warehouse clubs in Singapore, at least for the next few years.
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