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We are a group of fun loving retail students using the little technology to journal what we will be discovering about the wonders of retailing. Based on the retailer we had chosen, we will provide readers with our findings and how this retailer operates its business. Ding Li
Regina
Mei Mei
Shree
Jun Jie
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Monday, May 11, 2009, 3:48 AM
The Retailing Environment
The type of retailer we had chosen is NTUC Fairprice.
Consumers rank variety of assortment right behind location and price when naming reasons why they patronize their favorite stores. Consumers care about variety because they are more likely to find what they want when going to a store that offers more varied assortments.
NTUC Fairpirce provide a wide assortment variety such as beverages, grocery, miscellaneous, snacks, bodycare to cater into increasingly popular niche markets. Examples are the halal fresh and deli items for Muslim shoppers, more healthy-choice products and nutrition programmes for the health-conscious shoppers, more exotic products that come from non-conventional sources like Chile, Hungary, South Africa, to cater to the adventurous consumers, as well as online-shopping for the Internet savvy shoppers.
CHALLENGES FACED BY NTUC FAIRPRICE
Firstly, NTUC Fairprice needs to understand consumer buying habits and their perception value towards their products and services. NTUC Fairprice have to either develop a specialised department for customer relationship management or outsourced to external company to do so. Secondly, in order to maintain this database, NTUC has to ensure that the information are updated, accurate and secured while incurring the minimum cost.