Giant MD: Customers coming only for promotional items and number of loyal customers remained flat

[fordsolo]

When supermarket chain Giant closed an outlet in Bishan in August, it set tongues wagging that the business was streamlining its operations amid rising costs and cut-throat competition.

Speculation grew after rival chain Sheng Siong immediately took over the vacated retail space in Block 512 Bishan, opening a new supermarket outlet within a month.

Days later, a FairPrice store around the corner at Block 510 reopened after renovations.

In 2024 so far, a total of 11 Giant stores have closed, the latest being its Paya Lebar Square supermarket on Nov 24.

Besides the Bishan and Paya Lebar outlets, others that have closed include a hypermarket in Sembawang, and supermarkets in Ang Mo Kio and Toa Payoh, as well as several smaller express stores in areas like Pasir Ris and Punggol.

But the supermarket chain said it has no plans to reduce its presence here, despite rising inflation and intense competition.

“Giant is a brand Singaporeans are familiar with. We have long-term plans to grow alongside our customers in Singapore,” said Mr Yoep Man, managing director for food at DFI Retail Group (DFI) in Singapore.

The Singapore-listed company owns and runs Giant, as well as three other supermarket chains targeting different segments of the local market: Cold Storage, CS Fresh and Jason’s Deli.

Cold Storage caters to middle-income families in the heartland, while CS Fresh outlets are located in trendier estates such as Bukit Timah, Holland Road, Orchard Road, Joo Chiat and Siglap. Targeted at tourists and business executives, Jason’s Deli is located in high-end malls like Marina Bay Sands and Ion Orchard, Mr Yoep said.

Giant, meanwhile, is for the majority, and is located mainly within Housing Board estates.

In Bishan, rentals have increased while the number of loyal Giant customers dwindled.

“What we saw over the years were customers coming in only for the promotional items,” said Mr Yoep.

He added that despite continued promotions, the number of loyal customers remained flat, while overheads increased, making the business unsustainable.

“That led to our decision to exit (Bishan) to focus on catchment areas where our stores have the opportunity to trade up and where we are still able to modify our product assortment to capture the market.”

While 11 Giant outlets have been closed in 2024, DFI has opened five new supermarkets under its brands. They are CS Fresh in Chancery Court and New Bahru, Cold Storage in Pasir Ris Mall and Suntec City, and Giant in Tengah Plantation Plaza, which is the first and only supermarket in Tengah’s Plantation Village.

Some supermarket outlets, including Giant in IMM in Jurong East and Simei MRT station, and Cold Storage in Tampines 1, have been renovated and upgraded to appeal to customers.

DFI now operates 42 Giant outlets, as well as 48 stores under its three other brands in Singapore.

https://www.straitstimes.com/busine...old-storage-supermarkets-as-competition-rises

 

[Bardiel]

Huh? the CEO smoking what kinda weed?

off cos go for promotional item la. where got supermarket brand loyalty? being loyal to them got what benefit?

 

[Mr Duck]

Giant close down one by one. Things where got cheap? Only those display outside one only cheap. The rest you see where got cheap.

 

[Medicated Oil]

"it has no plans to reduce its presence here"

Say one thing, Do another thing.

 

[vbhelper]

but fairprice and SS still can survive reh

 

[Lchlch]

Giant should hv live show on channel 8 like SS.

 

[buttbERry]

so push for more promo items lor

 

[heroking]

wah even the MD is AT
sinkie really no talent

 

[Joseph12]

When supermarket chain Giant closed an outlet in Bishan in August, it set tongues wagging that the business was streamlining its operations amid rising costs and cut-throat competition.

Speculation grew after rival chain Sheng Siong immediately took over the vacated retail space in Block 512 Bishan, opening a new supermarket outlet within a month.

Days later, a FairPrice store around the corner at Block 510 reopened after renovations.

In 2024 so far, a total of 11 Giant stores have closed, the latest being its Paya Lebar Square supermarket on Nov 24.

Besides the Bishan and Paya Lebar outlets, others that have closed include a hypermarket in Sembawang, and supermarkets in Ang Mo Kio and Toa Payoh, as well as several smaller express stores in areas like Pasir Ris and Punggol.

But the supermarket chain said it has no plans to reduce its presence here, despite rising inflation and intense competition.

“Giant is a brand Singaporeans are familiar with. We have long-term plans to grow alongside our customers in Singapore,” said Mr Yoep Man, managing director for food at DFI Retail Group (DFI) in Singapore.

The Singapore-listed company owns and runs Giant, as well as three other supermarket chains targeting different segments of the local market: Cold Storage, CS Fresh and Jason’s Deli.

Cold Storage caters to middle-income families in the heartland, while CS Fresh outlets are located in trendier estates such as Bukit Timah, Holland Road, Orchard Road, Joo Chiat and Siglap. Targeted at tourists and business executives, Jason’s Deli is located in high-end malls like Marina Bay Sands and Ion Orchard, Mr Yoep said.

Giant, meanwhile, is for the majority, and is located mainly within Housing Board estates.

In Bishan, rentals have increased while the number of loyal Giant customers dwindled.

“What we saw over the years were customers coming in only for the promotional items,” said Mr Yoep.

He added that despite continued promotions, the number of loyal customers remained flat, while overheads increased, making the business unsustainable.

“That led to our decision to exit (Bishan) to focus on catchment areas where our stores have the opportunity to trade up and where we are still able to modify our product assortment to capture the market.”

While 11 Giant outlets have been closed in 2024, DFI has opened five new supermarkets under its brands. They are CS Fresh in Chancery Court and New Bahru, Cold Storage in Pasir Ris Mall and Suntec City, and Giant in Tengah Plantation Plaza, which is the first and only supermarket in Tengah’s Plantation Village.

Some supermarket outlets, including Giant in IMM in Jurong East and Simei MRT station, and Cold Storage in Tampines 1, have been renovated and upgraded to appeal to customers.

DFI now operates 42 Giant outlets, as well as 48 stores under its three other brands in Singapore.

https://www.straitstimes.com/busine...old-storage-supermarkets-as-competition-rises

Wow

This company actually operates Giant AND Cold Storage
Conflict of interest, no?

 

[Joseph12]

wah even the MD is AT
sinkie really no talent

What kind of surname is Yoep?

 

[MarkerForProjector]

I only go Giant if
1) it is super near, less than 200m away.
2) i need the item urgently
3) they having good promo for specific items

When I plan to go supermarket to replenish my home, my choices are Sing Song or Auntie Lucy.
Giant never my first choice...
Cold Storage too expensive for me...
CS fresh, Jason are for high class AMDK expats.

 

[c4765177]

"it has no plans to reduce its presence here"

Say one thing, Do another thing.

DFI now operates 42 Giant outlets, as well as 48 stores under its three other brands in Singapore.

that's 90 shops all around
fairprice = 230 units
SS = 74 units

still goes to show, govt linked only can sustain... the rest, smell no smoke

 

[Zorroh]

Prices will go up with less competition.

 

[Elfblade]

When supermarket chain Giant closed an outlet in Bishan in August, it set tongues wagging that the business was streamlining its operations amid rising costs and cut-throat competition.

Speculation grew after rival chain Sheng Siong immediately took over the vacated retail space in Block 512 Bishan, opening a new supermarket outlet within a month.

Days later, a FairPrice store around the corner at Block 510 reopened after renovations.

In 2024 so far, a total of 11 Giant stores have closed, the latest being its Paya Lebar Square supermarket on Nov 24.

Besides the Bishan and Paya Lebar outlets, others that have closed include a hypermarket in Sembawang, and supermarkets in Ang Mo Kio and Toa Payoh, as well as several smaller express stores in areas like Pasir Ris and Punggol.

But the supermarket chain said it has no plans to reduce its presence here, despite rising inflation and intense competition.

“Giant is a brand Singaporeans are familiar with. We have long-term plans to grow alongside our customers in Singapore,” said Mr Yoep Man, managing director for food at DFI Retail Group (DFI) in Singapore.

The Singapore-listed company owns and runs Giant, as well as three other supermarket chains targeting different segments of the local market: Cold Storage, CS Fresh and Jason’s Deli.

Cold Storage caters to middle-income families in the heartland, while CS Fresh outlets are located in trendier estates such as Bukit Timah, Holland Road, Orchard Road, Joo Chiat and Siglap. Targeted at tourists and business executives, Jason’s Deli is located in high-end malls like Marina Bay Sands and Ion Orchard, Mr Yoep said.

Giant, meanwhile, is for the majority, and is located mainly within Housing Board estates.

In Bishan, rentals have increased while the number of loyal Giant customers dwindled.

“What we saw over the years were customers coming in only for the promotional items,” said Mr Yoep.

He added that despite continued promotions, the number of loyal customers remained flat, while overheads increased, making the business unsustainable.

“That led to our decision to exit (Bishan) to focus on catchment areas where our stores have the opportunity to trade up and where we are still able to modify our product assortment to capture the market.”

While 11 Giant outlets have been closed in 2024, DFI has opened five new supermarkets under its brands. They are CS Fresh in Chancery Court and New Bahru, Cold Storage in Pasir Ris Mall and Suntec City, and Giant in Tengah Plantation Plaza, which is the first and only supermarket in Tengah’s Plantation Village.

Some supermarket outlets, including Giant in IMM in Jurong East and Simei MRT station, and Cold Storage in Tampines 1, have been renovated and upgraded to appeal to customers.

DFI now operates 42 Giant outlets, as well as 48 stores under its three other brands in Singapore.

https://www.straitstimes.com/busine...old-storage-supermarkets-as-competition-rises

said Mr Yoep Man.

Too bad his name is not Mr Yip Man, if not he can 一个打十个。 SS and NTUC no chance.

 

[wrathofgod]

I only go Giant if
1) it is super near, less than 200m away.
2) i need the item urgently
3) they having good promo for specific items

When I plan to go supermarket to replenish my home, my choices are Sing Song or Auntie Lucy.
Giant never my first choice...
Cold Storage too expensive for me...
CS fresh, Jason are for high class AMDK expats.

Agree, CS too ex liao, even if got one nearby, I rather google find others

 

[kensk76]

Giant known for their low quality products

 

[s-ghost]

in short, beh gan

 

[EJB]

I used to buy their meadow chips in bulk.

Then after GST raise to 9% from 8%. The prices for the chips increased 20%.

I stopped supporting liao... naturally this is singapore got discount got customer, no discount no customer. This is supply and demand.

There's no such thing as brand loyalty in SG.

 

[Medicated Oil]

DFI now operates 42 Giant outlets, as well as 48 stores under its three other brands in Singapore.

that's 90 shops all around
fairprice = 230 units
SS = 74 units

still goes to show, govt linked only can sustain... the rest, smell no smoke

So, when is Giant going to be buy over like M1 ?

 

[tech90]

CS too ex. All the Giants I've been too quite dirty. Like last time Giant TPY the fruit section sometimes got flies one.