Bags are a fun way to stylishly carry your belongings on the go, and some people favor backpacks as their choice of bag. Most people have their favorite brand of backpacks, such as Loungefly.
If you took a look at Loungefly bags, you were probably wondering why Loungefly is so expensive. I did some digging, and here is what I found!
Why Is Loungefly So Expensive?
Loungefly bags are expensive when you buy Loungefly bags from resellers, which can go up to $2,000. Usually, Loungefly bags can reach high resale prices because Loungefly rarely relaunches bag designs, making each bag design rare. Moreover, Loungefly bags are often based in pop culture, making them more valuable to fans.
Are you interested in learning more facts about what impacts the price of Loungefly bags? I compiled a list of information below, so read on!
1. Funko Owns Loungefly
Loungefly is a bag brand owned by Funko, a popular company that creates collectibles based on pop culture.
For instance, Funko is the company that manufactures Funko Pops, which are extremely popular collectible figurines.
Generally, Funko is a well-established company, which means some respect comes with the name.
Since Funko owns Loungefly, Loungefly garners the same respect from pop culture fans and collectors.
2. Deals With Retailers
Usually, Loungefly bags are fun and themed bags that are based on shows from pop culture.
For example, you will find various Loungefly bags with Star Wars, Mickey Mouse, and Cinderella designs.
Therefore, Loungefly will have to have gotten licenses to make such designs for its bags.
Otherwise, Loungefly would be at risk of copyright infringement for selling bags without the licensing rights.
Usually, acquiring these kinds of licenses is pretty expensive, which can add to the price of Loungefly bags.
Plus, Loungefly will have to add the licensing, manufacturing, etc. fees to the bag while making sure Loungefly makes a profit.
However, Loungefly may not have to pay for the licensing fee alone.
As stated earlier, Funko owns Loungefly, so Funko has been searching for broad licenses to cover the various brands that Funko owns.
Currently, the exact number of licenses that Loungefly has access to is unknown.
However, Funko has access to over 600 licenses, and Loungefly will likely have access to many of these licenses.
3. High Demand
Loungefly is a trendy brand of backpacks, especially for people who enjoy wearing items with pop culture themes.
Therefore, there is a very high demand for Loungefly backpacks, making Loungefly backpacks more expensive.
Typically, anything high in demand will be more expensive because the items will be perceived to have more value, which will then increase the product’s price.
4. Limited Supplies
One of the main drivers why Loungefly bags are expensive is that Loungefly only releases a limited amount of bags for each design.
Typically, Loungefly bags are meant to be collectibles, making Loungefly bags considered limited-edition bags.
Unfortunately, Loungefly also rarely decides to relaunch bag designs. Even if the Loungefly bag design was extremely popular, Loungefly is more likely to release a new bag design instead.
So, since there is a limited supply of Loungefly bags with high demand, Loungefly bags have become very expensive.
Also, while the retail prices are somewhat reasonable, Loungefly bags are generally expensive for backpacks.
5. Some Bags Are Sold At Disney World
Usually, Disney World is known for selling expensive merchandise, and Loungefly is available at Disney World.
Of course, most amusement parks like Disney World rely on merchandise, food, etc., for profits, so it can be expensive.
Moreover, some designs of Loungefly bags may only be in Disney World.
Additionally, if you want to buy a Disney Loungefly bag at retail price, you would have to go to Disney World since it is unavailable in other stores.
6. Branding And Marketing
Usually, anything can become more expensive with the proper marketing and branding tactics.
That said, this greatly applies to Loungefly bags since the actual quality of Loungefly bags is not considered high-end.
For example, Loungefly bags are touted to be limited-edition collector items, so “true fans” of whatever the Loungefly bag is based on ought to buy the bag.
Usually, most marketers will relate a consumer’s love of pop culture to Loungefly bags, enticing the customers to spend money.
Moreover, the branding on Loungefly influences customers, particularly how much the customers will be willing to spend on Loungefly bags.
Generally, Loungefly bags are known for being hard to get, which makes customers more tempted to buy a Loungefly bag.
7. Resale Prices
As mentioned earlier, Loungefly only produces a limited number of bags for certain styles.
Most of the time, Loungefly may never relaunch the bag design even if the bag was extremely popular.
Therefore, people often hoard Loungefly bags in specific designs, mainly if they are limited edition.
These people are often resellers, so their goal is to sell the Loungefly bag at a much higher price than the retail price.
For instance, the retail price of most Loungefly bags is $40 to $100, which many consider to already be expensive for a backpack.
However, most resellers can charge up to $2,000 for a Loungefly bag, especially if the backpack is extremely rare and wanted.
Moreover, some of the rarest Loungefly bags are generally costly, such as the AOP Monsters Inc and the Seven Dwarves bags.
So, since these bags are no longer being sold, many resellers can charge buyers thousands of dollars for these rare items.
Loungefly is a bag brand company owned by Funko, a popular company that specializes in pop culture collectibles.
However, Loungefly bags themselves are not too expensive at retail price, but Loungefly bags’ retail value can be worth thousands of dollars.
Typically, this is because Loungefly only releases a limited number of bags for each design, driving the demand for specific Loungefly bag designs up, and increasing the price.