Everyone's favourite $2 chain Daiso is closing down the outlet at Vivocity -- a shock move no one expected.

The closure notice was put up on the VivoCity storefront.

And photos of it were put up on Facebook:

This is an odd move for the spiritual successor to the One.99 chain.

Daiso, as a discount chain, has been doing well.

But they are probably required to move out to make way for a library at VivoCity opening in 2018.

In the process, Daiso is opening another outlet at the 100AM mall at Tanjong Pagar on Feb. 1, 2018.

A prominent rival, Don Don Donki, will also open at the same mall in June later this year.

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Daiso's value proposition

Daiso began operations in Singapore via its IMM flagship outlet in 2002, before expanding into the current 15 outlets that it has.

It's been facing stiff competition in the face of Don Don Donki's much-celebrated opening here, and other rivals such as Miniso.

Daiso's main selling point, however, is their S$2 price tag for its products, while both Donki and Miniso have prices that vary for different products, which includes a range of electronics and other lifestyle goods.

Be it pressure to compete with other chains or whatnot, it'll definitely be convenient for the average Singaporean shopping for some value-for-money Japanese goods in one place.

For many, however, it'll definitely be a great loss, especially for the convenience it brings to some shoppers.