As if LEGO sets weren’t expensive enough, a new price hike is coming later this year. It seems that increased material and operating costs are finally getting the best of LEGO, as the company plans to increase prices on “around a quarter” of its catalog this August.
LEGO has not clarified which products will see a price hike. Smaller sets may only increase by a few dollars, according to the company, though larger or more complex sets (presumably the ones that adults collect) will see a “percentage increase,” likely indicating a price bump that exceeds $10.
“The current global economic challenges of increased raw material and operating costs are impacting many businesses … as these costs have continued to rapidly rise, we have taken the decision to increase the price on some of our sets. This increase will come into effect in August and September.”
“The increase will differ depending on the set and prices will change on around a quarter of the portfolio. On some sets we will not alter price, on others there will be a single digit increase and on larger, more complex sets the percentage increase will be higher.”
This price hike comes at a pretty awkward time. LEGO just published 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 feel right now.
But to be fair, LEGO is probably burning through a ton of money this year. Rising fuel costs contribute to the price of both logistics and manufacturing, as most LEGO bricks are petroleum-based plastic. And due to rising food costs, LEGO’s bio-based parts (like those Harry Potter capes) have probably grown more expensive as well.
Again, we don’t know which LEGO sets will get a price hike. But the universe is a cruel mistress, so I’m willing to guess that whatever set you’re eyeballing is about to get way more expensive. You should go ahead and buy it before August rolls around.
Source: LEGO via The Brick Fan