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Hasbro Toy Prices Going Up Again


JayC
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US News reports Hasbro will raise prices again later this year due to increasing costs of supplies as well as the pausing of product sales to Russia. The response to the invasion of Ukraine in recent weeks may cost Hasbro as much as $100 million in sales lost. Prices are expected to increase this summer.

Hasbro Inc said on Tuesday it would have to raise prices further to cope with soaring costs and warned of a potential revenue hit of about $100 million this year due to its decision to pause toy shipments to Russia.
[...]
"To improve product in stocks this holiday season versus last, we're advancing deliveries of key items so that we can ensure they're on hand," said Chief Financial Officer Deborah Thomas on an analyst call.

Read the full report at usnews.com


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Damn I wonder what they new standard price gonna be its already 22.99/24.99 split at places. Is it making a jump to 25.99 or a leap to 27.99? Hopefully if anything it goes no further than setting 24.99 as the standard price. I already been picky but damn if it hits 27.99(me just speculating) for a standard release I will cherry pick so hard. #$## been getting too expensive.

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On 4/21/2022 at 10:05 PM, Audie said:

Well I used to be annoyed at all the redo figures from the Toybiz and early Hasbro days but now I say ‘bring it on’, less for me to burn my cash on. 

Totally agree. Not long ago, I would have preordered everything, but now with these prices I'm way more selective. 

Canadian pricing for regular figures are already $35 (higher at Toys R Us). Figures like Toad at $48 and that Knull/Venom pack is $115. And now they may be even higher when they finally show. 

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I believe that the problem is not Russia or any other excuse given by Hasbro but the enormous greed that the company has shown. We are already seeing a huge price increase. The Spider-Man figures announced this week are priced at over $30.00 each with no acceptable justification. In two years we will have low quality figures for $50.00 each. Why do other companies like Diamond Select and McFarlane feature figures with new sculpts and a lot more plastic at lower prices? The big problem is that Marvel and Star Wars are in the hype, any crap made by Marvel sells and they know it. I have more than 800 figures from the Marvel Legends line, but this is the first time I think about stopping collecting.

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Guys, I know it sucks to be paying more for figures, but paying for a single shipping container from China that would have been around $5,000 as recently as six months ago is over $30,000 today. Legends already have a wholesale margin that’s only around 20 to 25% because consumer price expectations are so out of whack with actual costs to produce. The alternative to these price hikes is almost certainly just cancelling the line. Pay the price or don’t, but please accept that shipping and production issues are very real and very expensive, and inflation is also out of control.

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On 4/22/2022 at 1:55 PM, Benn said:

Guys, I know it sucks to be paying more for figures, but paying for a single shipping container from China that would have been around $5,000 as recently as six months ago is over $30,000 today. Legends already have a wholesale margin that’s only around 20 to 25% because consumer price expectations are so out of whack with actual costs to produce. The alternative to these price hikes is almost certainly just cancelling the line. Pay the price or don’t, but please accept that shipping and production issues are very real and very expensive, and inflation is also out of control.

In fairness mate, you can sit them down in a classroom and explain economics for hours, and they would still think it's a conspiracy by companies. Prices are rising, not just for toys but for everything. I live in Ireland and with #$## head Putin's war we are now having everyday stuff like bread rising in prices.

BUT people are right to be mad. It's getting to the point where it might be better for them to quit, which they should do if they can't afford it. No point in wasting money on this if you can't afford the basics. I was going to buy all the L+T wave on Tuesday but after the Spidey stuff from this week, it'll only be Gorr. 

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On 4/22/2022 at 2:19 PM, tarot said:

In fairness mate, you can sit them down in a classroom and explain economics for hours, and they would still think it's a conspiracy by companies. Prices are rising, not just for toys but for everything. I live in Ireland and with #$## head Putin's war we are now having everyday stuff like bread rising in prices.

BUT people are right to be mad. It's getting to the point where it might be better for them to quit, which they should do if they can't afford it. No point in wasting money on this if you can't afford the basics. I was going to buy all the L+T wave on Tuesday but after the Spidey stuff from this week, it'll only be Gorr. 

Yeah  everything from bread and milk to the daily newspaper has gone up (and probably will keep going up). I have basically a pull list for what figures I want and even then If I can wait and get them cheaper even better.

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So...because they can't sell the stuff to Russia they think raising the prices for everyone else is a good idea??? So big time multi million dollar Hasbro is losing money...wonder why..???.. Could it be that there is little to no products on the store shelves or is it... very little products sold so lets raise the price... It's funny how Hasbro is the only Toy/Collectable company doing this, smaller ones seem to being doing just fine McFarlane hasn't raised his prices for his stuff..

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On 4/22/2022 at 2:42 PM, Typhis said:

So...because they can't sell the stuff to Russia they think raising the prices for everyone else is a good idea??? So big time multi million dollar Hasbro is losing money...wonder why..???.. Could it be that there is little to no products on the store shelves or is it... very little products sold so lets raise the price... It's funny how Hasbro is the only Toy/Collectable company doing this, smaller ones seem to being doing just fine McFarlane hasn't raised his prices for his stuff..

McFarlane has said he will have to raise his price. I don't know why people keep bringing him into the conversation.

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Man, browsing through all of the usual message boards this morning, I've never seen so many people saying "I'm done".  I know some of them are all talk, but even so...

I was predicting a second dark ages in the hot takes thread a few weeks ago.  Being that it was my internet hot take, I was only a little more than half serious, but this morning it really seems more likely to me than not.  While I only really know for sure how my own buying behavior will change going forward, I also know that I've been a die-hard for about 18 years now.  If I'm dialing it back as much as I am, I have to think a significant portion of the fan base is likely to as well.

Maybe something unexpected will happen and the line will come out the other side of this okay.  Maybe ML will have a second renaissance next year or in five years.  I really hope so, but today, things are looking pretty grim...

 

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As if I weren’t cherry picking hard enough already🙄. I’ve kept my shrinking focus on key classics after all these changing price tags (which has been very slow activity for me) but this news is just making it easier on deciding whether to abandon this ship altogether. I can see myself calling it quits once I get that retro Lizard, but we’ll see how things go..

 

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I hate to say it but I'm also done.  I have over 200 of these things anyway and not enough shelf space to hold them all.  But what was a fun and relatively cheap hobby now shows signs of doubling in cost within a single year.  I'm not buying the "cost of shipping/raw materials" affecting prices this much.  And, the problem with that argument is that they won't go back on this precedent when the manufacturing costs go back to "normal".  You'll never see a "Hey, things are better now, so we're reducing prices!" announcement.

I really do hope they rethink this.  It's the people like us that keep this otherwise dead industry alive (action figures in general).  And it will most certainly be noticed when people who regularly buy entire waves suddenly stop because they can't justify a $200 purchase.  

Also...

Quote

Hasbro's shares rose 3.1% to $86.16 in morning trade.

The company lifted its fiscal 2022 operating profit growth forecast to mid-single digits from its earlier estimate of a low-single-digit rise.

Manufacturing cost my ass.  News of a price hike followed by 3% stock growth and a big jump in operating profit growth?  wtf

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On 4/22/2022 at 9:42 AM, Typhis said:

So...because they can't sell the stuff to Russia they think raising the prices for everyone else is a good idea??? So big time multi million dollar Hasbro is losing money...wonder why..???.. Could it be that there is little to no products on the store shelves or is it... very little products sold so lets raise the price... It's funny how Hasbro is the only Toy/Collectable company doing this, smaller ones seem to being doing just fine McFarlane hasn't raised his prices for his stuff..

Other lines are absolutely raising prices. Many of them are just doing it on the wholesale end, and leaving it up to retailers to absorb the impact or pass it on. What lines are we talking about? McFarlane is raising prices, Mythic Legions is implementing a shipping cost to their retailers, Mafex and Mezco don’t have standard pricing, but their prices are definitely trending upward. I don’t know much about NECA, but I guarantee they’re raising prices soon if they haven’t already.

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Hell, different industry, but Wizards of the Coast just announced that they’re raising prices too. Magic boosters have been $4 for like 15 years, but they’ll be $5 by the fall. Again, I totally get it if these prices are too much for people to pay, but they’re not arbitrary.

 

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On 4/22/2022 at 12:31 PM, Virtualzach said:

And, the problem with that argument is that they won't go back on this precedent when the manufacturing costs go back to "normal".  You'll never see a "Hey, things are better now, so we're reducing prices!" announcement.

This is definitely and unfortunately true. Once they’ve seen that people will pay higher prices, there’s no board in the world that will willingly walk the prices back, but that doesn’t mean that the need to raise them wasn’t there initially.

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We know inflation happens and it sucks. When a hobby thats fueled by disposable income starts raising multiple times in a year compared to the last 10, it makes it hard to be able to collect when everything that is actually needed like food and gas also go up with it. And when that happens that hobby is sacrificed. The many price hikes over such a short time and over a vulnerable time with the covid era just hits so much harder and for me is unsustainable. I have had my moments of buying full waves but i have been cherry picking for the last few years. Id like to say id still get something but even that seems somewhat implausible in my situation. Far more important and necessary things are needed over toys always. 

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