As if LEGO sets weren’t expensive enough, another price hike is coming later this year. It looks like rising material and operating costs are finally getting the better of LEGO, as the company plans to raise prices on “around a quarter” of its catalog this August.
LEGO has not made it clear which products will see a price increase. Smaller games may go up just a few dollars, according to the company, though larger or more complex games (presumably ones that adults collect) will see a “percentage increase,” likely indicating a price increase of more than $1. 10.
“The current global economic challenges of rising raw material and operating costs are affecting many businesses…as these costs have continued to rise rapidly, we have made the decision to increase the price of some of our games. This increase will take effect in August and September.”
“The increase will be different depending on the set and the prices will change in about a quarter of the portfolio. For some sets we will not change the price, for others there will be a single-digit increase, and for larger and more complex sets the percentage increase will be higher.”
This price increase comes at a rather awkward time. LEGO just released its 2021 earnings report, which showed record profits and a 22% increase in sales over 2020. Amazon was heavily criticized for enacting a Prime price hike under similar circumstances earlier this year, so you can probably guess how LEGO fans are feeling right now. .
But to be fair, LEGO is probably spending a ton of money this year. Rising fuel costs contribute to the price of logistics Y manufacturing, as most LEGO bricks are petroleum-based plastics. And due to rising food costs, bio-based LEGO pieces (like those Harry Potter layers) have also probably become more expensive.
Again, we don’t know which LEGO sets will get a price increase. But the universe is a cruel mistress, so I’m willing to assume that whatever game you’re looking at is about to get a lot more expensive. You should go ahead and buy it before August rolls around.
Source: LEGO via The Brick Fan