After crowds of Singaporeans rushed to fulfil their final $2 binge buying earlier than 1 May 2022, Daiso Singapore has settled into its new revised pricing.
For these unfamiliar with Daiso, it’s a retailer that sells every little thing it carries at $2 beforehand. Thus, its slogan of “Always $2”. However, as of 1 May 2022, they raised their costs:
Source: Daiso Singapore Facebook web page
Is Daiso’s Price Increase Due To GST Increase?
The preliminary discover of Daiso’s worth enhance states that “all prices will be exclusive of GST from 1st May 2022”. This means that Daiso’s worth enhance was because of the charging of GST. However, nearer scrutiny could counsel in any other case.
As elaborated in our article on Daiso’s worth enhance and the way firms ought to show GST, costs should be quoted, whether or not written or verbally, with GST already included. This is as a result of “the public needs to know the final price they have to pay upfront”.
Prior to 1 May 2022, Daiso’s worth already included GST and their GST-exclusive worth was solely $1.87. By charging GST individually, they routinely elevated their costs by 7%. Thus, prospects must fork out each the 7% enhance in worth of products (from $1.87 to $2), and one other 7% in GST ($0.14).
Previously $2. Now $4.07
Read Also: 12 Useful Items You Can Buy From Daiso To Keep Your Home More Pleasant And Productive
Daiso’s Origins As A 100-Yen Shop In Japan
One key draw of Daiso in Singapore is its low-cost costs (“Always $2” beforehand) and extensive number of items. Frequent travellers to Japan may also know of its origins as a 100-yen store. Thus, no yen price ticket objects really confer with 100-yen objects.
Given that the present alternate price between Japanese yen and Singapore greenback is 100 yen to S$1.07, buying at Daiso in Singapore might not be as a lot as a discount as we might imagine.
The identical 100-yen merchandise prices us $2.14 in Singapore in comparison with $1.07 in Japan (airplane ticket not included).
Read Also: 7 Subtle Sales Techniques Don Don Donki Outlets In Singapore Use To Get You To Spend More
What Are The Best Value Items With Daiso’s New Pricing?
Perhaps, essentially the most complicated a part of Daiso’s worth enhance is that it’s not constant throughout the worth tier. Why does an initially $2 merchandise (or 100-yen equal) price $2.14 however the 200-yen equal merchandise price $4.07 and never $4.28?
Why does the amber holographic glasses price $2.14 however the clear holographic glasses price $4.07?
If we apply constant pricing throughout the worth tiers, Daiso’s precise worth is best worth. Unfortunately, the commonest worth tiers (the 100-yen, 200-yen and 300-yen objects) are those that provide the least worth as higher-priced objects provide extra financial savings if the pricing was constant.
| Item Value in Yen | Actual Price in Singapore ($) | Consistent Pricing ($) | Difference ($) |
| 100 | 2.14 | 2.14 | 0.00 |
| 150 | 2.14 | 3.21 | 1.07 |
| 200 | 4.07 | 4.28 | 0.21 |
| 300 | 6.21 | 6.42 | 0.21 |
| 400 | 7.28 | 8.56 | 1.28 |
| 500 | 9.42 | 10.70 | 1.28 |
| 600 | 10.49 | 12.84 | 2.35 |
| 700 | 12.63 | 14.98 | 2.35 |
| 800 | 13.70 | 17.12 | 3.42 |
| 900 | 15.84 | 19.26 | 3.42 |
| 1000 | 16.91 | 21.40 | 4.49 |
| 1100 | 19.05 | 23.54 | 4.49 |
| 1200 | 20.12 | 25.68 | 5.56 |
| 1300 | 22.26 | 27.82 | 5.56 |
| 1400 | 23.33 | 29.96 | 6.63 |
| 1500 | 25.47 | 32.10 | 6.63 |
Note: constant pricing assumes that each 100-yen is equal to $2.14.
Daiso In Japan Is A Much Better Bargain
Frequent travellers to Japan would most likely already know this however Daiso in Japan provides a lot better worth for a similar product and extra selection.
For the identical 100-yen merchandise, you’d pay S$1.07 based mostly on the present alternate price. This worth distinction grows bigger with each worth tier (aside from the 150-yen objects). For the 1500-yen objects, the distinction is most stark, as it might solely price S$16.05 in Japan (after foreign money alternate), in comparison with $32.10 in Singapore.
| Item Value in Yen | Actual Price in Singapore ($) | Price in Japan (after foreign money conversion) ($) | Difference ($) |
| 100 | 2.14 | 1.07 | 1.07 |
| 150 | 2.14 | 1.61 | 0.54 |
| 200 | 4.07 | 2.14 | 1.93 |
| 300 | 6.21 | 3.21 | 3.00 |
| 400 | 7.28 | 4.28 | 3.00 |
| 500 | 9.42 | 5.35 | 4.07 |
| 600 | 10.49 | 6.42 | 4.07 |
| 700 | 12.63 | 7.49 | 5.14 |
| 800 | 13.70 | 8.56 | 5.14 |
| 900 | 15.84 | 9.63 | 6.21 |
| 1000 | 16.91 | 10.70 | 6.21 |
| 1100 | 19.05 | 11.77 | 7.28 |
| 1200 | 20.12 | 12.84 | 7.28 |
| 1300 | 22.26 | 13.91 | 8.35 |
| 1400 | 23.33 | 14.98 | 8.35 |
| 1500 | 25.47 | 16.05 | 9.42 |
For these of us who aren’t travelling to Japan, we will additionally contemplate our neighbour, Malaysia. Daiso Malaysia provides its merchandise at RM5.90 which works out to be $1.87 (based mostly on the present alternate price).
150-Yen Items Offer The Best Value
Based on this, it’s higher worth for Singaporeans to stay to cheaper price tiers of 100-yen, 150-yen and 200-yen objects as the place the worth distinction doesn’t exceed $2 per merchandise.
This is best worth than the common $2.14 objects. Or is it?
The 150-yen worth tier provides one of the best worth for consumers at Daiso Singapore as we pay solely $2.14, the identical worth because the common 100-yen objects.
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