Even with one of the most outspokenly pessimistic presidents in the business world, Japan’s Daiso 100-yen shops are one of the most successful chains in the country. Walk into any branch, and you’ll see a huge mix of demographics among the customer base, including starving students, newlyweds setting up their own household, and thrifty families.
But while Daiso’s huge product selection gives it a wide appeal, it’s usually not the first stop for fashionable young ladies who’re looking for trendy accessories. So it’s been a surprise for the chain’s managers that since November, women have been snapping up Daiso-brand wristwatches like they’re designer timepieces, even though they’re dirt-cheap at just 108 yen (US $0.92) after tax.