The 1 per cent discount on most items at Sheng Siong is expected to cost the company S$3 million to S$4 million.
SINGAPORE: Retailers are offering promotions in response to the higher Goods and Services Tax that kicked in on Jan 1.to 8 per cent, but some stores are either absorbing part of the increase or offering discounts in a bid to get customers coming back.
The supermarket chain’s move coincides with the upcoming Chinese New Year when it typically sees shoppers stock up on items such as bottled drinks and snacks.Its chief executive Lim Hock Chee said:"Sometimes, customers think the 1 per cent is nothing much. But to Sheng Siong, if our estimate is correct, we will be losing about S$3 million to S$4 million in total."Online retailers are also jumping on the bandwagon. Shopping platform Lazada has rolled out a flat delivery fee of S$1.
"We worked with our suppliers to see if we can bring in bulk purchases before the hike, so that we can help the customers to buffer some of the increases in the short term,” said Mr Shawn Lim, executive director of the restaurant chain.Customers can expect such deals to stay until the end of the month, with more to come later this year.
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