The LEGO Group has suggested its premium quality will help shoppers accept its high price tag.
LEGO sets have established a firm reputation as a premium product, but that means a premium price tag often accompanies it. At the extreme end of the scale we’ve see the launch of models like 75313 AT-AT, with an RRP of £734.99 / $849.99 / €849.99. However, even LEGO fans with less expensive tastes have had to make some tough choices.
That’s because several LEGO sets have seen significant price increases over the last few months, with sets like 10255 Assembly Square climbing to an eye-watering £259.99 / $299.99 / €299.99. Our complete guide to LEGO price rises offers more information, but it seems that to the LEGO Group, these price increases are justified.
In an interview with Bloomberg, Niels B. Christiansen (The LEGO Group’s CEO) argues that the quality of LEGO will help to make it appealing to families – regardless of the price. He hopes that “high quality products with a long life cycle”, will prove an attractive investment as opposed to “toys that may only grab children’s attention for two weeks or so”. He also says it “remains to be seen if [pressure on households] will affect presents or if consumers scale down on things like cars or travel”.
The LEGO Group’s own numbers suggest that many LEGO fans are accepting this argument of high quality over low cost. According to a recent report by the LEGO Group, the company’s financial performance in the first half of 2022 was ‘above expectations’. Consumer sales grew by 13% in this period, while revenue climbed to £3.25 billion.
That said, these sales figures are from before the LEGO Group increased its prices. It remains to be seen how the price increases will impact our shopping habits in the future. In any case, our new LEGO deals section will help you avoid spending more on LEGO than you need to.