Japanese retail chain Daiso said on Friday (Apr 29) its impending price increases in Singapore are due to a steady rise in raw material costs and logistics.
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Known for its variety of items offered at S$2, the retailer will introduce a 15-tier pricing system on May 1 with prices ranging from S$2.14 to S$25.47 both in stores and online.
The pricing system was announced on Apr 25 after Daiso said earlier this month that it will start charging a 7 per cent GST on top of its S$2 price tag for its items.
"All this time, Daiso Singapore has been providing our pricing with GST included. However, in recent years, we see a steady rise in raw material costs and logistics. Due to the above reason, we will be increasing our selling price to maintain our operational cost," said a Daiso spokesperson on Friday in response to queries from CNA.
She added that the total amount will be rounded up to the nearest 5 cents if a customer pays in cash.
"Please be assured that we have enacted the smallest increase possible while continuing to ensure the quality of our products," said the spokesperson, adding that the retailer will offer a wider variety of items.