FairPrice Group, Singapore’s largest supermarket chain, is set to transform into a platform company, as detailed in a new book celebrating its 50th anniversary. The initiative aims to leverage customer data to create a more interconnected ecosystem comprising various cooperatives under NTUC Enterprise, including NTUC Health and Learning Hub.

To facilitate this transformation, FairPrice is introducing a single user ID called Linkpass, which will connect different services and enhance customer interaction. This platform model mirrors strategies employed by global giants like Alibaba and Amazon, aiming to provide a comprehensive view of customer preferences and behaviors.

The company plans to utilize data from over one million users of the FairPrice app and insights from its loyalty program, Link Rewards, established in 2019. Trust Bank, FairPrice’s recent venture into digital banking, is viewed as a significant step towards achieving its platform goals.

Lim Swee Say, former NTUC secretary-general, emphasized that while tech giants often monetize data, NTUC aims to enhance customer service and provide greater benefits. By analyzing purchasing patterns, such as diaper sales, the organization can identify demographics, like young families, and develop targeted support initiatives through its cooperatives.

The book, titled The Price of Being Fair, which goes on sale on July 10, shares stories from past and present leaders about the challenges faced over the years, including exiting unproductive overseas ventures and competing with major supermarket chains.

Since its inception in 1973, FairPrice has aimed to alleviate the cost of living in Singapore, a mission that resonates with contemporary consumers. The first NTUC Welcome supermart opened in Toa Payoh in July 1973, quickly attracting crowds and setting the stage for FairPrice’s growth.

FairPrice Group’s CEO, Vipul Chawla, highlighted the unwavering commitment to its founding mission, reinforcing the transformative impact of purpose-driven business. The book will be formally presented to Prime Minister Lee Hsien Loong during the 50th anniversary celebration on July 22 at Marina Bay Sands. Edited by former journalists, The Price of Being Fair seeks to document the success stories of local brands, often overshadowed by global companies.