Shortly after making waves with the announcement of Grab Financial offering loan and insurance services, and launch of GrabCycle, the ride-hailing giant is once again back in the news.
Today, Grab announced that it has partnered supermarket chain NTUC FairPrice to offer consumers a new subscription programme.
For a flat annual membership fee, subscribers are promised savings and rebates on their transport and grocery expenses.
Screenshot from SCORE’s website
Called SCORE, the programme was developed after a survey was conducted with more than 1,000 customers between the ages of 20 and 40.
With groceries (69%) and transport (54%) listed as top services that respondents wanted from a subscription service, the results showed a “potential in the market for such a (subscription) service”.
Benefits are listed in the table below:
Benefits of SCORE
NTUC FairPrice CEO Seah Kian Peng said, “Progressively, SCORE will be further developed as we collaborate with other industry leaders to provide a comprehensive service with different offerings”.
Grab CEO and co-founder Anthony Tan added that SCORE is a “a win-win-win for FairPrice, Grab and [their] customers”.
They also mentioned that they “welcome other industry leaders to include a wider range of products and services on top of grocery essentials and transportation offerings”.
As part of their efforts to encourage consumers to sign up, SCORE’s first-year subscription would be available at $18 from now till 18 May.
After that, subscribers need to pay $29.99 for their first-year subscription.
Membership fees will rise to $49.99 from the second year onwards.
According to The Straits Times, the reason as to why subsequent years’ fees are higher is because FairPrice and Grab “expect to rope in more partners to provide other benefits and services to members”.
However, both sides did not provide any additional details when probed.
Does It Live Up To Lazada’s LiveUp?
This reminds us of LiveUp, launched last year by e-commerce giant Lazada.
Image Credit: Lazada
Unlike SCORE, LiveUp offers a 60-day free trial period, after which, first-year membership stands at $28.80.
Subscription fees for the second year onwards is $49.90.
While the difference between the fees for LiveUp and SCORE is negligible, LiveUp’s stable of partner brands might just be what gives them that extra edge.
With partners like RedMart, Uber, Taobao and Netflix on board, it definitely looks like a more comprehensive subscription plan vis-à-vis what SCORE is offering for the same price.
But it’s still early in the game, and who knows – SCORE might eventually score (pun intended) more partners for their programme.
Find out more about Grab-FairPrice’s SCORE here.
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