Announcement
Published on 26 December 2023 by William
Many things have gone up in price in recent months and years, and Funko POPs have been no exception. This is a blow for collectors who were already spending a considerable amount of money on their hobby, and now have to dig even deeper into their pockets. Nevertheless, an official Funko document hints at future pricing strategy and answers the question: will POPs cost more in 2024?
Covid, war in Ukraine, conflict in the Middle East, etc. - the international context of recent years has had a major impact on Funko's business, and the brand has had to react to events by raising the prices of its products, including Funko POPs. Today, the new standard POP figures are generally priced between $13 and $16, but will this continue to rise?
Good news: the answer is NO. Prices should stabilize, as revealed in the November 2023 report Funko published for its investors (remember that Funko is a NASDAQ-listed company).
In this document, Funko details its strategy for reassuring investors, and in particular the areas in which the brand is working to preserve and improve its margins (in short, the profitability that investors are looking for). To increase its margins, Funko had identified three areas of focus: - price increases - reduction of storage costs - renegotiation of manufacturing costs.
It's fair to say that, while the last two points are of less concern to us as collectors, the first one hurts... In fact, to increase margins, Funko has simply raised its prices, and the increase in rates is passed on to us at the cash register.
Rest assured, however, as Funko mentions that this price hike will be completely "over" by the third quarter of 2023. There should therefore be no further changes for some time to come, and you'll find your POP figurines at prices similar to those at the end of the year next year!
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