Japanese value retailer Daiso to increase US stores 10-fold

Value retailer Daiso Industries Co aims to increase the number of its stores in the US more than 10-fold to 1,000, as more American consumers to look for high-quality products on a budget.

The Japanese 100-yen shop operator currently operates over 80 US stores, including in California and Texas.

It plans to add around 30 outlets, mainly in Arizona, in the next fiscal year.

A Daiso official says high-quality, single-priced products will catch on overseas, too. The operator aims to attract more American customers by launching new products at frequent intervals and increasing its selection of goods.

Dollar shops such as Daiso are becoming increasingly popular in the US where runaway inflation is shrinking consumers' disposable income.

In July, the Hiroshima Prefecture-based Daiso opened an outlet in New York City’s Manhattan district.