Funko Pop's tossing more than $30 million worth of stock into landfill
The weakened global economy has clearly hit Funko Inc's sales hard
Published: 6th March 2023 | Source: Kotaku |
Funko Inc has excess stock, and now over $30 millions worth of merch is destined for landfill
During a recent earnings call, Funko Inc, the company behind Funko Pop models, has revealed that they are "writing off" $30 millions worth of product. In non corporate terms, "writing off" means "sending to landfill", and that means that an insane number of Pop models are about to be thrown away.
Funko Inc has generated a huge amount of money from the sales of their Pop vinyl models, but lowering demand and market saturation has caused the company's inventory to increase by 48% when compared to last year. That inventory is worth $246.4 million, and that huge amount of product has a large warehousing/storage cost. To help manage inventory levels, Funko is now due to throw away "$30 to $36 million" worth of inventory.
While it is amusing to think that future archaeologists could find a mass of millions of Pop models in the future, it is a shame that Funko has allowed so much material and packaging to go to waste. Hopefully Funko are able to recycle their tossed inventory to reduce waste.
Funko's Pop models have been huge sellers over the past number of years, especially during the pandemic. That said, now that much of the world is facing high levels of inflations and increasing costs of living, it is easy to see why Funko's warehouses are stuffed with 5-inch tall plastic ornaments. When times are hard, you're not going to be buying many Pop models...
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Most Recent Comments
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Originally Posted by Gothmoth
alt least i know now who produces these figures that i see at the desks of so many youtubers.
that grown men pay for this crap is sad enough. |
Why are they dumping them instead of just selling them for a huge discount? "Writing them off" can't possibly be cheaper than selling at a loss?Quote
There are millions of Birthday and Xmas gifts to take advantage of here for the less fortunate!
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Originally Posted by Gothmoth
alt least i know now who produces these figures that i see at the desks of so many youtubers.
that grown men pay for this crap is sad enough. |
https://i.imgur.com/gCshUdU.jpgQuote
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that grown men pay for this crap is sad enough.Quote