The Price of Being Fair

by Sue-Ann Chia (Editor), Shing Huei Peh (Editor)

Some praise it as a national treasure. Others tag it as the people’s supermarket. Many simply call it “NTUC.” While NTUC FairPrice is a household Singaporean brand, the story of its rise from just one store in 1973 to over 500 today is little known.

As FairPrice Group celebrates its 50th anniversary in 2023, this authorised book traces its riveting success from a worker-led experiment to a S$4 billion food enterprise with more than 500,000 customers every day. Along the way, it has fought the biggest global and local challengers in the unforgiving retail market, from Carrefour to Cold Storage, from Sheng Siong to Amazon.

But unlike FairPrice’s rivals, it is not a company. It is a trade union cooperative with a social mission to moderate the cost of living for Singaporeans. Profits are not maximised for shareholders or owners, but for members and consumers. It continues to shoulder the burden of fighting inflation even as it forges growth.

For the first time, this homegrown Singaporean brand offers unprecedented access to its people and archives, revealing the crises FairPrice has had to navigate, from the Avian flu outbreak of 2004 to the COVID-19 pandemic. These pages reveal the tensions and struggles as it balances profit with purpose.

The Price of Being Fair tells the story of not just successes over half a century but also failures – from loss-making overseas ventures to aborted retail concepts. In the hands of the writers behind the No. 1 bestseller The Last Fools: The Eight Immortals of Lee Kuan Yew, this title provides insights into business, management, politics, technology, and more than a delicious dose of heritage and nostalgia.

Genres: Nonfiction

200 pages, Paperback

Published July 7, 2023

Reviews

[Varun Vaitheeswaran · Rating 4 out of 5]

Very interesting and informative read on the history of FairPrice and its juggles of being a socialist company in a capitalist world. Lots of interesting anecdotes and made for a good read

[Tairachel · Rating 4 out of 5]

Really enjoyed this brave and largely uncensored, honest, captivating page turner about the intriguing 50 years' history of Singapore's most famous and well-loved supermarket co-operative, NTUC Fairprice.

The Price of Being Fair goes deep into the various struggles and business strategies that the supermarket chain faced, from colossal international supermarkets like Carrefour to bird flu, Covid pandemic toilet paper panic-hoarding and beyond.

My only critique of this book was that it felt a little more like a bunch of interviews and presenting/reporting information that was fed, rather than an investigation/deep dive.

Like for example, I would have wanted to know more about the use of single-use plastics, and more about why supermarkets don't try to reduce the use of plastic bags and plastic packaging in their stores, and instead try to cut these costs by transferring these costs to the customer and packaging this as an environmental matter.

Nonetheless, I learned very much about the various leadership figures, and thinking and deep passion behind running a supermarket co-op in Singapore! We can definitely do with more insightful books about Singapore like this one 🇸🇬

Many thanks to @definitelybooks for this review copy. Get yours from your favourite bookstore!

[A · Rating 4 out of 5]

The Price of Being Right is an intriguing look into the history and evolution of NTUC, Singapore’s powerful social cooperative, and its complex role in the nation’s economy. The book sheds light on NTUC's efforts to stabilize prices and bolster food security, a crucial undertaking for a resource-scarce country like Singapore. It offers a fascinating perspective on NTUC’s place in Singaporean society, its dual role as both a market player and a stabilizing force in essential commodities.

One of the book's strong points is its accessibility; it’s an easy read that breaks down complex economic and social issues in digestible ways. I learned much about the operations of a social cooperative and NTUC’s strategies to influence local markets. However, the book's brisk pacing might leave readers craving more depth. Certain sections, particularly around NTUC’s foundational strategies and policies, feel almost too swift, skimming over details that could provide a fuller understanding of the organization's journey.

While the book does well in highlighting NTUC’s growth and key milestones, it’s also carefully crafted, seemingly steering clear of direct commentary on NTUC’s close ties with the Singaporean government. This restraint, while likely intentional, leaves a noticeable gap in the narrative, especially given the cooperative’s influential role in national policy and welfare.

Overall, The Price of Being Right is an enjoyable and insightful read that shines a light on NTUC's substantial impact on Singapore’s food security and price stability. Although it occasionally feels like certain elements have been downplayed, it remains an essential resource for anyone interested in the intersections of government, economy, and social welfare in Singapore.

[Jamaica Tan · Rating 3 out of 5]

Dating back to as far as 1973 where the first FairPrice (then called "Welcome") was opened, to present times where it morphed into a local retail giant, this book chronicals it all.

The Price of Being Fair offered very fancinating insights to the Fairprice Group's story that many may not be privy to. The many arduous journeys and challenges it took to stay true to its roots of providing affordable necessities to Singaporeans were well articulated (albeit I sense some dissonance in some chapters). I especially like the chapter on COVID-19 pandemic where the authors described the crazy rush of customers frantically hoarding toilet papers and can foods, and how each players behind the scene in the FairPrice chain, worked together to make sure needs (and prices) are met.

Now everytime I purchase something off the shelf, I will bear in mind the hardwork and people behind the scenes for making this possible.

[bobfish · Rating 4 out of 5]

As someone who grew up in singapore, I took the numerous fairprice supermarkets around for granted. I shop regularly at fairprice outlets and never knew about the firm’s backstory! This book is good for a light weekend read, although I wish it went into more details in certain areas. The reader gets a good understanding of fairprice’s origins, main competitors and difficult business choices that the organization has had to make throughout the years. I was intrigued to find that I myself was guilty of a number of common consumer misconceptions mentioned in the book - would prescribe this as a good case study for Singaporean students.

[Dominic Leong · Rating 5 out of 5]

A compelling read. It tells the story of Fairprice’s journey through the decades chronologically, diving into each of the major crises it faced along the way without overwhelming you with complex economic jargon and ideas.

It highlights the thought process behind the development of its house brands, the various outlet concepts as well as their solutions to each of the major crises that popped up in its decades-long history.

[bookishthings · Rating 4 out of 5]

Informative read on a quintessential part of life in Singapore. It covered the range of topics in broad strokes, I do wish there could’ve been more detail. I’ve always been a Fairprice customer, as a kid accompanying my parents on grocery runs and now for my own household. There’s many things we as customers don’t see, and through this book I’ve come to appreciate NTUC’s diversity of products and affordable prices as something that’s been hard won over the years.

[Melissa Lim · Rating 4 out of 5]

A very informative book about FairPrice, spilling many untold stories that all singaporeans should know about one of our nation’s most popular supermarket.

My only beef if that the writing style is also very singaporean, succinct - use of words was done very efficiently to deliver the needed point across - which can feel a little dry at times. But why sensationalise the story more than it’s needed?

Big kudos to the team for putting this book out there for us singaporeans.

[Hin Hiang · Rating 5 out of 5]

Super interesting read about the fairprice story! As a procurement professional, i was deeply impressed by the agility, swift and foreseeing ability of the fairprice procurement team to tide us through the tough times. The author also wrote with a humourous ways that capture the reader to continue reading. Light yet informative read!

[Andria · Rating 4 out of 5]

Very insightful! Being born in the 90s, I did not know much about the fairprice group, so this was a fun read. I like the format of the book, the chapters were clear and easy to understand. The book cover is cute too.

[Kaiwen Cheang · Rating 4 out of 5]

Good book with interesting insight into FairPrice and easy but clear and succinct writing. Captured breadth in content but depth slightly lacking, perhaps to avoid controversy w the unavoidable intent to push an agenda.

[Aaron Aik · Rating 4 out of 5]

Compact and an easy read of a corporation with 50 years of history, including some fun facts (didn’t know Heavenly Wang was part of FairPrice or that Carrefour could have been at Hougang 1).

[Nuraina Abdul Razak · Rating 5 out of 5]

This was a really great read! Very informative on one of our own homegrown brands here and to learn more about how they have strengthened through crises and expansion.

[Esh · Rating 5 out of 5]

Interesting to know more about fairprice and singapore in the olden days. Also informative on how their business works. Good read.

[Harold · Rating 5 out of 5]

Great read. Wonderful study on the rise and challenges of a unique retailer. Though it’s more an overview, it’s a good gateway to studying their model more.

[Bobbin G. · Rating 4 out of 5]

Easy to read and informative. Now I know more about the raison d'etre of the supermarket that I frequently visit.

[Selma · Rating 4 out of 5]

What a thought provoking book.
Review to follow.

[Jacky · Rating 4 out of 5]

More of such Singapore brand stories to come! Interesting read about our ubiquitous supermarket who has truly come a long way.

[Jermayne · Rating 5 out of 5]

Really enjoyed reading about Fairprice. I liked the flow of the chapters and the writing style (I'm biased towards Peh Shing Huei) haha

[Jill · Rating 3 out of 5]

One of the endorsements of the back cover of The Price of Being Fair is from Willie Cheng, who says that the book is "not a celebratory commemorative publication of 50 years of Singapore's most successful social enterprise and retailer [but]….an authentic account of 'doing good' best in the face of adversity and disruptions". I disagree; The Price of Being Fair is a "celebratory commemorative publication". It describes, certainly, the struggles and challenges FairPrice had but WHICH IT ULTIMATELY FACED DOWN AND EMERGED STRONGER FROM. The Price of Being Fair draws its material from interviews with past and present leaders at FairPrice and of the labour movement; it's hardly an unbiased analysis of the organisation.

That said, the book is engagingly written and does a good job telling the story of a Singapore stalwart. The chapters cover a range of issues - FairPrice's mission to keep prices low for consumers; its move into housebrands (from rice and now to truffle potato chips), its (failed) foreign ventures; its struggles to break into shopping malls given its heartland, low-cost associations; its entry into the convenience store market (and competing with 7-Eleven); its competition with international players like Carrefour, as well as homegrown competitors like Sheng Siong; moving upmarket into foreign and premium offerings (FairPrice Finest); FairPrice's broader efforts to do good e.g. by removing sharks fin from its shelves and charging for plastic bags before it was required under legislation and its Share-A-Textbook project; FairPrice's role and work during the COVID pandemic; its work diversifying its supply chain and its foray into digital.

I learned fascinating nuggets. Like how FairPrice "warrior stores" located close to Sheng Siong outlets do things slightly differently, e.g having fresh products with shorter shelf lives that can be sold at a cheaper price, having handpicked staff who thrive on the competition. Like how the outlet at the Artra mixed development in Redhill has "fresh ambassadors" who advise shoppers on how to select the best avocado or get the ingredients for their house party. Like how Chew's Agriculture used to only supply eggs to hawkers and wet markets but it was FairPrice's Chief Procurement Officer who persuaded them to produce eggs for FairPrice as well because they could be a buffer if egg supplies from outside Singapore were disrupted, resulting in Chew's now producing half of Singapore's local production. How FairPrice has a command room that tracks real time data on supply and demand, including the movements of ships carrying goods for FairPrice or adverse weather events that affect crops.

The most riveting chapters for me were those on the pandemic and more generally FairPrice's sourcing and logistics operations. How FairPrice had to stem the panic buying at its stores by giving consumers confidence that they had sufficient stocks and would not run out. How FairPrice had to secure the supply of products across "all 98 categories" in a time when supply chains were disrupted globally. How within Singapore, they had to rejig their warehousing and distribution operations to keep the goods flowing smoothly.

I do wish though, that the book would have started by explaining in a bit more detail what a cooperative is, rather than assuming everyone knows exactly what this is. And also perhaps how Fairprice's model compares with other cooperative models. (In some other places, being a cooperative where members own and control the business means that they also get decision-making rights and are involved in the operations. This isn't the case for FairPrice). And the book leaves some questions untackled; in chapter 1, we learn that when Welcome (the original name of FairPrice) first started, consumers were happy to shop at Welcome but were not enticed to sign up as co-op members, notwithstanding the prospect of earning dividends from Welcome's profits. Why was this the case (and it still the case today)? It mght perhaps be too sensitive to delve into this and the authors quickly move on to say that "if any consumer still had doubts about Welcome's role, these were squashed when the supermarket kept the price of rice stable amid cost surges".

One of the more interesting and readable commemorative publications, whose focus on a supermarket chain really spoke to the auntie in me. 3.5 stars.

[Verglacé · Rating 4 out of 5]

Loved this read. Well written and real insightful.

[Apollos Michio · Rating 4 out of 5]

I see the supermarket FairPrice almost every day, but its story and origins have always been quite elusive to me. The Price of Being Fair plugs this knowledge gap by chronicling the rise of FairPrice over its 50 years, and more importantly, the struggles that it faced and overcame. 🇸🇬

This is a fascinating look at a household brand we all know so well in name but probably not enough about! It is heartening to know how FairPrice stays true to its social mission of ensuring affordable prices for essential household items and works hard to ensure food security for Singapore. Reading this book has definitely made me appreciate the supermarket more! 🛒

4.25/5

[Aquila M · Rating 4 out of 5]

Did you know that FairPrice uniformly prices its goods across all its stores, unlike Sheng Siong which differs their prices at each outlet depending on location and surrounding competition?

This is just one of the many interesting facts I learnt from reading The Price of Being Fair, which describes how FairPrice has grown from just a single outlet in 1973 to a $4 billion food enterprise.

As a consumer, I don’t often see what goes behind the scenes (or rather behind the supermarket shelves). How do supermarkets operate? Why are there so many variants of FairPrice (e.g. Xtra, finest)? How does FairPrice ensure food security in Singapore and where do they source their products from?

Besides answering these questions, the book succinctly captures the challenges and sacrifices FairPrice has faced over the years to keep essential items affordable for consumers. Remarkably, the book doesn’t shy away from mistakes that the company has made over the years. It is a well-researched book that documents how FairPrice has solidified itself to be a staple in Singapore’s supermarket landscape.

This is not just a must-read for FairPrice customers but for anyone interested to learn more about where our groceries come from and the challenges managing supermarkets entail. It has definitely broadened my mind and made me see FairPrice supermarkets differently.

My rating: 4.5/5

[v · Rating 4 out of 5]

4.25/5
i am #teamfairprice4life after reading this. as a gen z who is quite out of touch with local "history" i think this value added a lot (compared to someone from the older generation who might have already known some of the things in this book). now whenever i spot a fairprice near cold storage (or their affiliated drugstores) i will consider very carefully where i want to purchase my goods from because fairprice does a 'one price for all stores' policy while cold storage apparently practises some form of price discrimination?? ok ANYWAYS even if you're not an econs/business person, this book is still incredibly readable and i just found it incredibly interesting to learn about all the shit that fairprice had to endure over the years and how we shouldn't take something so ubiquitous for granted!