Giant supermarket chain is undergoing significant restructuring as it closes 11 of its outlets in Singapore in 2024, including notable locations in Bishan and Paya Lebar. These closures come amid rising operational costs and intense competition, with rival Sheng Siong quickly filling the vacated space in Bishan. Despite these challenges, Giant’s management has emphasized that it does not plan to reduce its overall presence in Singapore. Instead, the company is focusing on adapting to changing market conditions and consumer preferences by strategically closing underperforming stores and opening new ones that align better with local demand.
As part of its reshuffling strategy, DFI Retail Group, which owns Giant along with other brands like Cold Storage and CS Fresh, aims to tap into different market segments across Singapore. The company is leveraging data from its Yuu Rewards Club loyalty program to understand evolving shopper preferences and demographics. This insight will guide the opening of new outlets in areas where they can thrive, such as the recent openings of CS Fresh and Cold Storage in strategic locations. By refining its store offerings and focusing on high-potential areas, Giant and its parent company are positioning themselves for long-term growth while adapting to the competitive landscape of Singapore’s retail sector.
While Giant’s recent store closures signal significant changes within the company, they also highlight an adaptive strategy aimed at ensuring sustainability and relevance in Singapore’s dynamic retail sector. By leveraging data-driven insights and focusing on strategic openings, DFI Retail Group seeks to navigate current challenges effectively while continuing to serve Singaporean consumers with quality offerings tailored to their needs.
(Source: The Star)