Although both companies are operating in the "bargain" segment...

Although both companies are operating in the "bargain" segment of the market, TRS business model is completely different from that of Daiso.

TRS:
- Imports parallel goods from overseas, such as cheap confectionery, household goods
- Sells seasonal goods such as Halloween costumes, Christmas supplies, etc.
- Buys from overseas wholesaler or manufacturer
- Price points ranging from cents to tens of dollars

Daiso:
- A vertically integrated design/manufacturer/retailer
- Designs most of its merchandise in-house
- Produces a lot of its merchandise in their own plastic factory in Thailand
- Sells them in their own stores at price points a lot lower than TRS, i.e. in Australia, most of them at $2.80, with some items slightly higher (sub $5.00)
- Daiso's house brand merchandise can not be bought from another retailer

Below is an article about Daiso's entry into the US market.

https://www.laweekly.com/how-the-japanese-store-daiso-became-a-phenomenon/

There is another company that imitates Daiso's success, called Miniso. It's actually a Chinese company, but the branding makes it as if it's a Japanese retailer.

They have similar concept, home brands sold at sharp price points, but the goods that they are selling are different from Daiso.

https://miniso-au.com/en-au/
http://www.miniso.com/
https://en.wikipedia.org/wiki/Miniso

Their store count in Australia is already at 32 and growing very fast.

They only started in 2011, and already has 1,800+ stores worldwide.

Competition is getting more and more intense and TRS life is not going to get any easier any time soon.