Latest news with #CDCvouchers
CNA
19 hours ago
- Business
- CNA
Uneven impact of CDC vouchers spurs heartland merchants to innovate
SINGAPORE: The benefits of the Community Development Council (CDC) voucher scheme are not being evenly felt across merchants, with digitally-savvy businesses in high-traffic areas reaping the lion's share, said the Federation of Merchants' Associations, Singapore (FMAS). This has prompted some heartland enterprises to step up efforts to stay competitive and keep customers returning. FMAS president Yeo Hiang Meng said the vouchers have been helpful in driving footfall 'to our stalls and shops, encouraging residents to support local businesses'. However, he noted: 'Those operating in high-traffic or densely populated areas generally experience higher voucher redemptions, while businesses in quieter or less accessible locations may see a more modest impact.' He added that merchants that are more digitally proficient — such as those that actively promote their participation through social media or display clear CDC voucher signage — tend to attract more customers. Mr Yeo said: 'In contrast, some older hawkers and shopkeepers may face challenges with digital engagement or may not be as familiar with outreach strategies, which can limit their visibility and reach.' Singaporean households can claim and use S$500 (US$380) in CDC vouchers from May 13. This latest tranche of vouchers will be valid till Dec 31 this year. The CDC vouchers are meant to help households manage cost-of-living challenges. NOT ALL BENEFITTING More than 23,000 merchants across Singapore accept CDC vouchers, spanning hawkers, supermarkets, music shops, and pet stores. In areas like Chinatown, the scheme has had a significant impact. Some retailers there told CNA that these vouchers account for up to half of their daily sales. But not all businesses have been benefitting from them. Observers said older hawkers and shopkeepers are struggling - some are not even on board. Mr Cornelius Tan, chairman of the Chinatown Complex Hawker Association, said there are about 50 to 70 shops in Singapore's biggest hawker centre and market that have yet to join the scheme to accept CDC vouchers. 'Those are more in retirement mode,' he added. 'So they don't like changes and they are just comfortable with their lives, and they like physical cash over digital money.' To support broader participation, FMAS is encouraging merchants to collaborate on joint promotions or improve their store displays. TRYING TO PROFIT As consumer behaviour evolves, some Singaporeans are also finding ways to profit off the vouchers through strategic purchases - such as trading cards. Memorabilia collector Junius Chia, co-founder of consignment service SCC Consignments, said: 'First of all, it won't break your bank, and also, it is accessible. 'There are a lot of shops in Singapore that sell these products, and there are also hobby groups as well as online that give you the opportunity to buy, sell and trade on the platform.' Mr Chia added that for some, it is an investment. 'We have collectors that are in it just to buy and keep it in hopes that in future, the card prices will rise and then they can make a profit out of it,' he said. While the CDC scheme prohibits exchanging vouchers for cash or using them on controlled items like lottery products, CNA understands that reselling these cards does not break the rules. Analysts told CNA that using CDC vouchers on non-essentials does not necessarily mean an abuse of the system, but signals broader shifts in what consumers now deem essential. 'The CDC vouchers were initially introduced to help Singaporeans manage the cost of living,' said Dr Samer Elhajjar, senior marketing lecturer at the National University of Singapore Business School. 'However, the use of these vouchers indicate how people's essentials are changing. We need to recognise that the definition of essentials is becoming more psychological (and) more personal, especially in high-stress societies, in high-cost environments like post-pandemic Singapore.'
CNA
2 days ago
- Business
- CNA
Benefits from use of CDC vouchers not equally distributed, with some buyers trying to seek profit
The Federation of Merchant's Associations Singapore says gains from CDC vouchers aren't evenly felt across merchants, as digitally savvy merchants tend to attract more customers. At the same time, shifting spending habits have seen some Singaporeans trying to profit off their vouchers by flipping them for cash. Now, heartland enterprises are finding new ways to keep customers coming back. Nasyrah Rohim with this report.
CNA
5 days ago
- Business
- CNA
Retail sales growth slows in April amid cautious consumer spending
Retail sales momentum in Singapore is slowing, with a 0.3 per cent rise in April, coming off March's 1.3 per cent growth. Analysts say this reflects more cautious consumer spending and warn that growth may stay modest in the coming months amid global uncertainty. Meanwhile, heartland enterprises in Woodlands and Marsiling say takings have come down amid the June holidays as more Singaporeans cross the border to shop. While government efforts like CDC vouchers have cushioned the impact, business owners hope more can be done. Richa Mathew reports.
Independent Singapore
27-05-2025
- Business
- Independent Singapore
Mixed reactions emerge after tech store urges customers to buy PS5 with CDC vouchers
SINGAPORE: Mixed reactions have emerged online after a tech retailer published a video urging customers to use their Community Development Council (CDC) vouchers to purchase PlayStation 5 sets. The Gadget Mobile outlet in Tampines uploaded the promotional video on TikTok on 20 May. The video features a staff member showcasing the popular gaming console with text suggesting that customers can use their Community Development Council (CDC) vouchers to pay for it. The post quickly gained attention. Some viewers were thrilled by the offer, with a few calling it a creative way to spend their vouchers. Others, however, weren't impressed. Detractors argued that the scheme was launched to support Singaporeans with essential daily expenses and to help sustain heartland merchants and hawkers, not promote luxury gadgets. Some asserted that the vouchers are meant to ease the cost of living, not to splurge on luxury items, while others called for some control in how CDC vouchers should be spent. A few even called on the authorities to step in, saying the spirit of the scheme was being diluted. Under the current guidelines, CDC vouchers are intended to 'help with daily expenses' and can be used at participating hawkers and heartland shops. The initiative also aims to support small, local businesses providing everyday goods and services. Eligible vendors display a CDC decal at their premises. Residents can also locate participating hawkers, heartland shops, and supermarkets through
Independent Singapore
14-05-2025
- Business
- Independent Singapore
FairPrice offers $6 return voucher for every $60 spent in CDC Supermarket vouchers
SINGAPORE: On Tuesday (May 13), the same day that Prime Minister Lawrence Wong announced that each Singaporean household could collect the latest tranche of CDC Vouchers worth $500 , FairPrice said it would sweeten the deal even more for voucher-users, offering a $6 FairPrice return voucher for every $60 worth of CDC Supermarket vouchers transacted at any FairPrice stores between May 13 to 19. These return vouchers are meant to supplement the government's CDC support package . Moreover, there is no minimum spend required when using return vouchers, and FairPrice customers may use multiple return vouchers in a single transaction. The move helps 'further support Singaporeans with stretching their dollar this SG60,' said FPG in a May 13 press release, adding, 'This initiative is part of FPG's commitment to ensure that all in Singapore have access to the essentials they need to celebrate SG60 together.' Importantly, return vouchers may be used starting from the next day after they were issued until June 15, 2025. They are offered to the public while supplies last. This is the third wave of Return Vouchers from the FairPrice Group (FPG) this year alone, following the first wave that was issued after the government's distribution of CDC vouchers in January, and the second that came during the Lunar New Year season to help keep festive essentials affordable. 'Singaporeans have shown incredible strength and spirit in the last few months of global uncertainty, and as the nation's largest retailer, we want to recognise the hard work they put in every day to lead more fulfilling lives. This third wave of FairPrice return vouchers is our way of helping to make every day a little better for all in Singapore, by keeping daily essentials within reach,' said Vipul Chawla, the Group CEO of FPG. More information about the CDC Vouchers Scheme may be found here . The latest tranche of CDC vouchers may be claimed here , where users will need to log in using their SingPass details. Every household with at least one Singaporean may redeem S$500 in vouchers. Singaporeans who need help claiming the vouchers digitally, including those who do not have smartphones or need help with their log-in credentials, will receive additional assistance at community centres and SG Digital Community Hubs. For the vouchers, an amount of S$250 may be spent at participating heartland hawkers and merchants, and the other S$250 at Ang Mo Supermarket, Cold Storage, Giant Singapore, HAO Mart, NTUC FairPrice, Prime Supermarket, Sheng Siong, and U Stars Supermarket. They are valid until December 31, 2025. /TISG Read also: 'My whole chicken is here' — Singaporeans react to latest tranche of CDC Vouchers worth S$500
