Lego jacking up prices this year

[Pseudoty]

1 hour ago, BrickLover80 said:

I haven't seen it from Lego US directly but we haven't had any real inflation in 40 decades. However, they increased prices in Germany on Jan 1 on existing sets, so they clearly can do it.

As for increasing prices of existing inventory: happens every day these days. Retailers can't increase prices on existing orders (eg. backordered sets) but you can do whatever you want for new orders. 

I am talking about inventory on the shelf in B&M stores. I know the major players in the record industry UMG/Sony just did a 20% increase, so my gatefold 2X45RPM went from $50 to $60 but retailers are not implementing the increase on existing stock. So it kind of forced my hand to grab things that were on my Wishlist now, thus boosting their sales. 

If you have an existing Lego set targeted as a winner and you can walk into Target and grab it for what will eventually be 30% off then why not. 

Edited June 3, 2022 by Pseudoty

[BrickLover80]

1 minute ago, Pseudoty said:

I am talking about inventory on the shelf in B&M stores. I know the major players in the record industry UMG/Sony just did 20% increase so my gatefold 2X45RPM went from $50 to $60 but retailers are not implementing the increase on existing stock. So it kind of forced my hand to grab things that were on my Wishlist now, thus boosting their sales. 

If you have an existing Lego set targeted as a winner and you can walk into Target and grab it for what will eventually be 30% off then why not. 

I see what you mean but we have all seen stores change price tags on shelves with stock still on the shelves, so I don't think there is a rule against that. However, it's probably true that not all stores will manage to put in a price change right away, so chances are you can get some sets for the old price. But unless sets are retiring or the price increase is huge, I'm not sure it makes much sense.

[Darth_Raichu]

1 hour ago, BrickLover80 said:

I haven't seen it from Lego US directly but we haven't had any real inflation in 40 decades. However, they increased prices in Germany on Jan 1 on existing sets, so they clearly can do it.

As for increasing prices of existing inventory: happens every day these days. Retailers can't increase prices on existing orders (eg. backordered sets) but you can do whatever you want for new orders. 

I have been out on vacation and have not kept up with the news.  Are we now basing inflation calculations on colonial era economy??? 🤔

 

[KShine]

Everybody wins here folks!

The time to worry is when they start lowering their prices by 30%.

[Unionize Pokemart]

Big increase to the Speed Champions line, during the 6 wide era they were 14.99, then bumped to 19.99 with the 8 wide era, and only 2 years into the 8 wide era they will now be 24.99. Will be interesting to see how that effects the resale of the older retired models.

[Ed Mack]

On 6/2/2022 at 7:26 AM, Voltron said:

There's been alot of backlash from people on lego forums / brickset etc regarding this. However, I don't think lego sales are going to be affected by this that much.

I remember a great quote by Ed Mack on here which he mentioned that lego is a toy set for the middle/ upper class, and even during the last financial crisis lego survived. There will always be "rich" parents that buy the toy for their kids even during a recession. Sure there may be some hiccups along the way, but people calling this the "end" for lego is premature.

LEGO has done an excellent job of marketing and producing quality sets over the past 2-3 years, better than I ever would have though 10 years ago.  I truly believe (and know) some LEGO reps used to read our forums and took a lot of our feedback to heart and really started developing sets for adults and did a great job.  There are just too many great choices right now it's hard to buy them all.

Price increase or not, these current LEGO sets are must haves and people are going to buy them now and on the secondary market for years to come.  It's still a great investment.

[Sozial]

Since I am a cheapskate when it comes to buying, I do not like increases, but it could have a positive influence on after market prices since the gap between EOL Sets and current sets is less, so it is "easier" to buy EOL sets.

But higher prices directly from lego means less disposable income for EOL sets so I tend to say that the increase is worse than useful. But what do I know: storage is full and i am Happy to supply.

[stackables]

I barely buy sets now so this will definitely not encourage me to buy more. Guess I will have to get Prime soon. Been thinking about the Ghostbusters set too.

[Mark Twain]

“Target warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory.”

https://www.cnbc.com/2022/06/07/target-markdowns-plan-to-cut-inventory.html





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[gmpirate]

3 hours ago, Mark Twain said:

“Target warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory.”

https://www.cnbc.com/2022/06/07/target-markdowns-plan-to-cut-inventory.html





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Maybe they should lift some bans?  We're real good at clearing inventory 😁

[Thanos75]

Hopefully Walmart follows with that plan.

[Darth_Raichu]

Too bad the competitions around me still sweep LEGO at 25% off.  I have not seen any huge discount (50%+) in quite a while.

[cladner]

1 hour ago, gmpirate said:

Maybe they should lift some bans?  We're real good at clearing inventory 😁

exactly.  what other retailer cancels $10000s of orders.  i haven't even bothered to see if my ban is still in effect.

here's what my local poor rural walmart is lookiing like tonight - stuffed to the max- lol - even overflowing with BOUTIQUE HOTEL!!  i laughed out loud seeing 4x in this store. $200 for a lego set at walmart in this town? yah rite!   gotta love how the $70 spiderman set has the security device but the $200 set with minifigures no one cares about is left unprotected.  not showing up on brickseeek though walmart.com is showing availability at this store and a few others in the area.  will have to go by the set dropping off availability at this store on walmart.com as a possible sign of clearance price shift.

 

 

[keymomachine]

3 hours ago, cladner said:

not showing up on brickseeek though walmart.com is showing availability at this store and a few others in the area.  will have to go by the set dropping off availability at this store on walmart.com as a possible sign of clearance price shift.

I thiiiink stuff doesn't show up on briiickseeek if the in-store price (maybe $199.99 in this case) is higher than the online price (currently 199.95). I also just saw it in a store, but don't see it there on BS.

[redcell]

13 hours ago, Darth_Raichu said:

Too bad the competitions around me still sweep LEGO at 25% off.  I have not seen any huge discount (50%+) in quite a while.

I suspect that this may start to get worse with the recent influx of new "investors," particularly once they start to realize that buying really expensive sets on the day they are released isn't a winning strategy.

[CsabaLazlo]

On 6/2/2022 at 2:27 PM, Graphicski said:

the continued eyesore blue pins in the fancy Technic sets (I remember when the used to use black ones!).

Some of the knock-off brands are starting to manufacture these pieces in different colours now. Lego will need to get their arse in gear or more people might end up going over to the dark side.

[Darth_Raichu]

6 hours ago, redcell said:

I suspect that this may start to get worse with the recent influx of new "investors," particularly once they start to realize that buying really expensive sets on the day they are released isn't a winning strategy.

It will be interesting to see the effects of the economy to reselling / investing LEGO.  Regrettably I made a few buying mistakes earlier this year, so I will be in the same boat 

[redcell]

15 minutes ago, Darth_Raichu said:

It will be interesting to see the effects of the economy to reselling / investing LEGO.  Regrettably I made a few buying mistakes earlier this year, so I will be in the same boat 

Show me someone who claims they didn't make buying mistakes during any given year and I'll show you a complete liar.  Best thing to do is get out of them as quickly as possible.  I'm getting ready to send a whole bunch of stupidity to clear through FBA this summer.

[dennugsmello]

On 6/7/2022 at 2:20 PM, Mark Twain said:

“Target warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory.”

https://www.cnbc.com/2022/06/07/target-markdowns-plan-to-cut-inventory.html





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This is just the beginning. We are quickly moving towards a deflationary economy outside of necessities(energy/food/housing). Expect to see full shelves and big discounts as the retailers scramble to unload all the product now flooding the market from China. Hope everybody is prepared for the tough times ahead. The nearly 15 years of cheap debt is winding to a close and the velocity of money is already slowing. Expect a major recession and job losses to follow suit.  

We are entering an era of where cash is king and there will be a mad scramble to get/save as much of it as possible. However, if you are sitting on hordes of dollars there will be many, many buying opportunities in the future. If you are in heavy debt, then all I can say is good luck. 

[46andTWO]

6 minutes ago, dennugsmello said:

This is just the beginning. We are quickly moving towards a deflationary economy outside of necessities(energy/food/housing). Expect to see full shelves and big discounts as the retailers scramble to unload all the product now flooding the market from China. Hope everybody is prepared for the tough times ahead. The nearly 15 years of cheap debt is winding to a close and the velocity of money is already slowing. Expect a major recession and job losses to follow suit.  

We are entering an era of where cash is king and there will be a mad scramble to get/save as much of it as possible. However, if you are sitting on hordes of dollars there will be many, many buying opportunities in the future. If you are in heavy debt, then all I can say is good luck. 

Thank God, finally that gigantic pile of cash might be able to actually do something!

[Bricklectic]

28 minutes ago, dennugsmello said:

 Expect a major recession and job losses to follow suit.  

If so, sell spy call spreads expiring in a few months and double your money in just a few clicks.

Predicting the economy isn't so easy. Trillions of $$ debate this each on Wall Street every day and a major recession isn't yet priced in.

You may be correct but its not a foregone conclusion by any stretch.

[Pseudoty]

Oh, they needed to pay for this:

[Shortbus311]

Oh, they needed to pay for this:
http://bp-forum.s3.amazonaws.com/monthly_2022_06/010A0C7B-A902-4BC6-B6CB-CE2665479B3A.thumb.png.03b4173799d54872eb63e9af2f324941.png

Maybe they will actually build a Lego store in Richmond or Virginia Beach now... instead of the closest one being 5 hours away.

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[vasp]

2 minutes ago, Shortbus311 said:

Maybe they will actually build a Lego store in Richmond or Virginia Beach now... instead of the closest one being 5 hours away.

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We have one in Woodbridge which is about an hour & half away.

[Shortbus311]

We have one in Woodbridge which is about an hour & half away.

I am in VB. So Richmond is about 2-2.5 hours from me and then you are another 1.5 from Richmond. I guess I exaggerated by an hour.

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