FairPrice To Offer 1% Discount On Essential Goods From Jan 2023 To Offset GST Hike

FairPrice To Offer 1% Discount On Essential Goods For 6 Months From Jan 2023

Come 1 Jan 2023, GST will increase to 8% as part of a staggered rate hike from 7% to 9%.

Adding to the Government’s measures to offset the rate hike for some Singaporean families, FairPrice recently announced its own initiative with the same intended outcome.

For six months from 1 Jan 2023, FairPrice will be offering a 1% discount on 500 essential goods including fresh fruits, vegetables, proteins, and household products.

The initiative is aimed at offsetting the GST increase while addressing customers’ cost-of-living concerns.

FairPrice to offer 1% discount on 500 essential items from 1 Jan 2023

In a press release on Friday (4 Nov), FairPrice announced that it will be offering a 1% discount for 500 essential items from next year.

The initiative will last for a period of six months, starting from 1 Jan 2023, when GST increases from 7% to 8%.

FairPrice shared that the selected products were based on items that customers purchase frequently and those that meet their “top-of-mind” needs.

Comprising both national and house brand items, FairPrice said the basket of goods will include:

• Fresh fruits
• Vegetables
• Meat
• Staples
• Dairy
• Paper products
• Detergent
• Household cleaners

According to TODAY, the exact products will be unveiled at a later date. However, the products may vary throughout the entire six-month period as they depend on shoppers’ demand.

The initiative will apply to purchases from physical stores as well as those on FairPrice’s online store, ensuring all shoppers get to enjoy the benefits.

Not FairPrice’s first time adapting costs

This isn’t the first time that FairPrice has offered discounts in line with GST hikes.

In 2007, the supermarket chain offered discounts on 400 essential items when GST was increased from 5% to 7%.

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Featured image by MS News.