From today, supermarket chain Giant will lower the prices of 650 daily essentials for six months by 20 per cent, on average.
It will also refresh its brand, with its 53 Singapore stores incorporating new features including in-store bakeries and Guardian pharmacies.
The price reduction is costing Giant around $17 million and is prompted by its consumer research finding that cost of living concerns are top on people’s minds during the ongoing pandemic, said Dairy Farm’s chief executive officer for its South-east Asia food business Chris Bush yesterday.
“The one thing that they told us loud and clear is they would like cheaper prices, they’d like greater value and they’d also like more stable prices, particularly on those essential products that they buy most often,” he told reporters during a media conference.
The price reductions will apply to products across Giant’s own brands, fresh products as well as national brands like Dove.
Vannamei prawns, for example, will be sold for $1 per 100g, down from $1.89 previously. A box of 50 green tea bags by OSK will retail for $5, down from $6.95.
