Giant, a retail chain operated by DFI Retail Group, has agreed to absorb the 1% increase in the Goods and Services Tax (GST) in 2024 for 700 essential products for the first 6 months of the year.
The decision to absorb the increase in GST is to ensure that essential products remain affordable amidst rising concern over the cost of living among Singaporeans.
In 2024, Singapore raise its GST from 8% to 9%, and several other major supermarket chains including Fair Price and Sheng Siong have done the same to absorb the increase in GST for certain products until mid-2024.
DFI Retail Group has carefully selected 700 essential products based on customer feedback and data in a bid to ensure ‘maximum value’ for its customers and products affected include vegetables, milk, ice cream, cheese and personal and home care products amongst others.
Aside from that, Giant has gone the extra step to offer a 4% storewide discount for the elderly every Tuesday of the year (2024).
