Daiso Singapore says new prices are ‘smallest increase possible’
SINGAPORE — Daiso Singapore, the popular Japanese chain known for its $2 household items, said that its new prices that will take effect from 1 May entail the “smallest increase possible” while ensuring the quality of its products.
In response to queries from Yahoo Lifestyle Singapore, Daiso said that it has been absorbing the Goods and Services Tax (GST) for its products but this is no longer tenable due to an increase in operational costs.
“However, in recent years, we see a steady rise in raw material costs and logistics. Due to the above reason (GST), we will be increasing our selling price to maintain our operational cost,” Daiso said.
Daiso announced earlier this month that it will no longer exclude the Goods and Services Tax (GST) on all purchases from 1 May. The prices of its products across 15 tiers will range from $2.14 to $25.47 from 1 May, with 10 price tiers above $10.
Thanking its customers, Daiso said it seeks their kind understanding and looks forward to their continuous support. “We will provide a wider variety of items to meet the needs of our customers.”
News of the price increase has led to long queues of customers at various Daiso outlets in the past few days.
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