Last month, Danish LEGO announced that it would likely be forced to raise the prices of its products. That ‘likely’ has turned into ‘certain’ as they have already increased the prices of their sets by an average of 25 percent, according to HypeBeast.
Although LEGO had previously reassured customers that the price increase would apply to only a quarter of their products, it turned out that this quarter includes the most sought-after, collectible sets such as the treehouse, Home Alone sets, or Back to the Future.
Failed Cost Control
For example, sets that previously cost $200 are now $250, and specifically, the LEGO Real Madrid stadium has jumped from $350 to $400, while the Lamborghini Sian is now $450 instead of $380.
The company attributed this price jump to ‘current global economic challenges and rising raw material and operational costs.’ Although they claim to have tried to control costs to keep prices stable, they have not succeeded.
Given that economic analysts currently do not see ‘light at the end of the tunnel,’ it is likely that prices for the remaining three-quarters of products will slowly rise, and parents and collectors will pay higher amounts for their favorite toys.
