Far left Grab Group CEO and co-founder Anthony Tan
As rideshare giants grow, so do their products, and Grab is a big one on diversity. They have just signed a deal with supermarket company FairPrice providing Grab customers and drivers a membership incentive. The new program launched this Monday offers huge savings on purchases in FairPrice supermarkets as well as discounted Grab rides. The new program is named Score, and members will receive a 5% rebate on all supermarket purchases, a 20% discount on all Grab rides capped at $4 per ride as well as 30 redemptions every month. The score will cost members $29,.99 for the first year and the price will go up to $49.99 for every year after that.
Based on consumer reports, residents of Singapore aged between 20 to 40 years preferred a grocery and rideshare incentive program that would save money in the long run. Since an average family will spend over $1,000 a month on groceries, 5% is a saving of $50, which makes this program profitable even without the rideshare benefits.
Singapore's secretary-general of the National Trades Union Congress and Minister in the Prime Minister's Office Mr. Chan Chun Sing stated to the press at the launch that "Through this collaboration, we hope that both groups of customers will benefit… When they consume a product and service from either Grab or FairPrice, they will get the benefits of this bigger network. In today's world, truly, we are no longer just competing as separate individual enterprises… The more we are able to network our services together, the more we are able to provide value-add to all our customers."
Grab CEO Anthony Tan stated that "The membership program will allow FairPrice and Grab to tap each other's clientele and expand their reach. As long as it resonates with the targeted audience and their lifestyles, it will work. If this model is successful, they can add more partners."