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Daiso Promises More ‘Interesting’ & ‘Creative’ Items Now That Prices Have Increased

2022-05-24 , 11:04 am

It was indeed a sad day for all when Daiso announced that their products would no longer be sold at the familiar price of $2.

But although prices may be higher now, the store is also looking at upping the quality of their products as well as growing the chain.

New Outlet at Jurong Point

Daiso will officially open another outlet at Jurong Point mall on Wednesday (25 May).

The new store is its second concept store worldwide, with the first in Tokyo. The concept store houses three brands – Daiso, Standard Products and Threeppy.

Standard Products has an environmental focus and makes sustainable products while Threeppy is a newly-rebranded women’s line.

Having three brands under one roof aims to improve the shopping experience for customers as there is a richer line-up of items, said Daiso Singapore president Jun Tomioka.

More Outlets to Open Soon

With the launch of the concept store, there are 28 Daiso outlets, nine Threepy branches and one Standard Products store islandwide.

Daiso plans to open its next outlet at Nex mall in Serangoon next month and another in Ang Mo Kio by September.

These additions are part of a global expansion strategy and also as Daiso sees a “very stable future for Singapore with a lot of growth”, said the president of parent company Daiso Industries Seiji Yano.

“Not Just Something Cheap”

We have all known Daiso as a discount store, but now with the introduction of other brands, that image might seem to be disappearing.

Well, apparently not.

Mr Tomioka assures customers, “Our products are still reasonably-priced but at the same time, we have products that have sustainability in mind. So it’s not just something cheap, but it also has an extra value.”

He added, “we are going to be coming up with a lot more interesting, creative and new products that the public has not seen before.”

Since the rise in price of Daiso products, the range now starts from $2.14 to $25.47.

Standard Products and Threeppy also adopt the same tiered pricing as Daiso, with 70 per cent of their items retailing at 300 yen (S$3.20).

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Price Increase Not an Easy Decision

Previously, Daiso announced that their products would no longer include the goods and service tax (GST) within their flat rate of $2.

The decision to raise prices was not an easy one to make, said Mr Tomioka as the company had borne the brunt of inflation for a long time, but the increase in costs along supply chain operations left it with no choice.

Furthermore, there was a significant impact from the Russia-Ukraine war and COVID-19 which affected the retail market. Container freight rates also shot up by 200 per cent in the last two years.

“It has been getting difficult to absorb costs while maintaining a profitable business in the long run. It’s not sustainable,” he added.

However, Mr Tomioka noted that customers have not been deterred by the marginal increase in prices and continue to shop at the retail store, especially since the widening of its range of products.

So while you might have stocked up on all your favourite products before 1 May, do head back down to Daiso for a look at some of their new and improved items.