As 2024 draws closer, some households in Singapore might find the imminent GST hike a pretty daunting reality.
To help offset the GST increase, local supermarket chain Sheng Siong will be implementing a 1% “counter-inflation discount” for the first three months of 2023.
Source: Google Maps
In addition, Sheng Siong will also be extending its senior citizen discount programme till the end of 2024.
Sheng Siong announced the 1% discount in a press release on Friday (15 Dec).
The supermarket chain said that this is the company’s way of offsetting the impending GST hike and alleviating the “effects of rising prices on consumers”.
The initiative will last throughout the first three months of 2024 and apply to all in-store purchases with the following exceptions:
Sheng Siong had implemented a similar initiative at the start of this year when GST was raised from 7% to 8%.
Sheng Siong also announced that it will be extending the senior citizen discount programme till the end of 2024.
Under the programme, Singaporeans and permanent residents aged 60 and above can get 4% off their purchases on Tuesdays and Wednesdays.
The discount is subject to a spending limit of S$200 per receipt.
To enjoy the discount, seniors only need to present their NRIC, Pioneer Generation, or Merdeka Generation cards at the stores.
Last month, FairPrice similarly announced that it would be absorbing the GST hike for some essential products till June 2024.
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Featured image adapted from Sheng Siong Supermarket.
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