Another four bite the dust this month amid a flurry of shutterings, and this time it’s budget lifestyle brands that are taking a hit. Retail giant Aeon is on track to close a handful of Living Plaza and Daiso Japan chains across Hong Kong in August, with three already shuttered and one more to come by the end of the month.
Living Plaza and Daiso Japan are both fondly known as neighbourhood ‘$12 stores’ where you can pick up a wide range of affordable household items, from Japanese snacks, everyday home improvement items, and practical products at Living Plaza, to Japanese imported goods, stationery, personal care, and decor items at Daiso.
Offering more for less seems not to have been the winning strategy, however, as parent company Aeon has closed one Daiso location in Tai Po’s Wan Tau Tong Shopping Centre and two Living Plaza locations – in South Horizons and Sheung Wan – so far this month. One final closure will take place at the end of this month on August 31, affecting the Living Plaza branch in Tai Hing Gardens Phase II, Tuen Mun. Bargain hunters can snag deals for up to 70 percent off as the store holds final closing sales before its last day.
Discussions on social media have speculated aggressive competition from e-commerce platforms, such as mainland China’s Taobao and Pinduoduo, as well as ‘inconveniently positioned’ store locations as reasons for these closures.
It’s not all grim news for folks who like bargain shopping. Aeon still operates more than two dozen Daiso Japan branches across the city, and almost 30 Living Plazas as well, primarily concentrated in Kowloon and the New Territories. Plus, Aeon is steadily maintaining an opening schedule for its other lifestyle specialty brand, Mono Mono, with two new openings in July and August – not to mention a new Daiso Japan appearing on the scene in North Point just last month. Perhaps the string of closures could mean coming back stronger.
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