Singapore is traditionally a free port with over 99% of all imports being duty free. The most common way to enter the Singaporean market is to use a local agent or distributor. Other ASEAN countries can also be served through the Singaporean market.
The Singaporean market is relatively small compared to the other four main countries in the ASEAN region. However, with its highly affluent population and array of upscale supermarkets with diverse product offerings, the Singaporean market may be more suitable for Canadian food exports than other ASEAN countries. Traditional wet markets, sundry shops, and "mom and pop" shops are the most popular in terms of outlet numbers (representing 70% of all grocery outlets), but they cater to lower-income consumers. Therefore, modern grocery retail dominates Singapore's market in terms of value sales.
Hypermarkets have the highest sales in the modern grocery retail segment (US$1.6 billion in 2010), with FairPrice as the most popular chain. FairPrice generally caters to low- to mid-income consumers while FairPrice Finest superstores cater to high-income consumers, offering Swiss and European style bakeries and wine cellars. There are 6 FairPrice Finest stores in Singapore. The Cold Storage group (owned by Dairy Farm), which also owns Jason's Market Place, offers many gourmet products catering to high-income expatriates, tourists, and Singaporeans. These stores are located in city centres, but Cold Storage retail outlets focus more on fresh foods, while Jason's Market Place focuses more on organic, natural and premium products. Carrefour also offers foreign products and caters to middle- and upper-class citizens.
Large Singaporean grocery retailers purchase imported products directly from the exporter or foreign-based wholesaler, while smaller grocery retailers purchase from local distributors or importers. FairPrice Finest usually uses direct sourcing, but will use some preferred agents for smaller volume supplies. The Cold Storage Group uses direct sourcing, as well as a preferred list of agents. Carrefour purchases products directly from supplier groups.
Singapore is traditionally a free port with over 99% of all imports being duty free. The most common way to enter the Singaporean market is to use a local agent or distributor. Other ASEAN countries can also be served through the Singaporean market.The Singaporean market is relatively small compared to the other four main countries in the ASEAN region. However, with its highly affluent population and array of upscale supermarkets with diverse product offerings, the Singaporean market may be more suitable for Canadian food exports than other ASEAN countries. Traditional wet markets, sundry shops, and "mom and pop" shops are the most popular in terms of outlet numbers (representing 70% of all grocery outlets), but they cater to lower-income consumers. Therefore, modern grocery retail dominates Singapore's market in terms of value sales.Hypermarkets have the highest sales in the modern grocery retail segment (US$1.6 billion in 2010), with FairPrice as the most popular chain. FairPrice generally caters to low- to mid-income consumers while FairPrice Finest superstores cater to high-income consumers, offering Swiss and European style bakeries and wine cellars. There are 6 FairPrice Finest stores in Singapore. The Cold Storage group (owned by Dairy Farm), which also owns Jason's Market Place, offers many gourmet products catering to high-income expatriates, tourists, and Singaporeans. These stores are located in city centres, but Cold Storage retail outlets focus more on fresh foods, while Jason's Market Place focuses more on organic, natural and premium products. Carrefour also offers foreign products and caters to middle- and upper-class citizens.Large Singaporean grocery retailers purchase imported products directly from the exporter or foreign-based wholesaler, while smaller grocery retailers purchase from local distributors or importers. FairPrice Finest usually uses direct sourcing, but will use some preferred agents for smaller volume supplies. The Cold Storage Group uses direct sourcing, as well as a preferred list of agents. Carrefour purchases products directly from supplier groups.
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