The LEGO® Group have officially announced that there will be a LEGO® price increase on a number of their LEGO® sets in August 2022. The justification for the price increase is said to be due to “global economic challenges” that have made sourcing materials and production costs increase.
Why Are LEGO® Prices Going Up?
Does the price increase come as a surprise to you?
In general it appears that many other companies are increasing their prices (utilities companies for example).
Naturally when “essential services” like gas and electricity start increasing I do not think it is ever long until businesses have to increase their prices to maintain their profit margins.
What LEGO® Sets Are Increasing?
According to StoneWars.de there are 105 LEGO® sets where we will see a price increase, this ranges between a 5% and 25% LEGO® Price Increase.
If you would like to see the full list of LEGO® Price Increases you can check out the comprehensive list that StoneWars.de provide by clicking here.
Investing in LEGO
With the LEGO® Price Increase looming it might lead you to wonder whether you should buy some sets to invest in.
Whilst I do not advocate people going out and buying lot’s of LEGO® sets just to earn a bit extra cash to resell when the price goes up there is definitely a potential in getting a good ROI here.
If you do invest in LEGO® please do it mindfully of others, some people may not be able to afford the increased price.
If you are interested in learning more about investing in LEGO® you will find our post about the Top 5 LEGO® Themes That Have a High ROI very interesting!
Is This the First Price Increase by The LEGO® Group?
This is not the first LEGO® Price Increase in 2022, do you remember what happened in January?
In January 2022 The LEGO® Group announced that there would be price changes to ensure consistency between different mainland countries.
This change saw some sets increase and some decrease so I think you could say that this price change was a fair move by The LEGO® Group with aim to provide a more balanced pricing structure.
Official Statement by The LEGO® Group
The current global economic challenges of increased raw material and operating costs are impacting many businesses.
Putting consumers first is at the heart of what we do as a company, and for some time, we have absorbed these costs to keep pricing stable. However, 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.
We will continue to work to ensure our products offer great value and full recognise how important this is to our fans and everyone who love our products.
