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Hasbro says it’s raising the prices of toys and games

Hasbro raising prices
The company has seen rising demand for its Nerf Blasters and games, as families have stayed much closer to home.

The COVID-19 pandemic has taken a toll on just about every part of life, including the toy industry.

Toymaker Hasbro announced it would raise the prices of toys and games to counter rising costs of raw material.

The company has seen rising demand for its Nerf Blasters and games, as families have stayed much closer to home.

The demand for toys has remained solid with Hasbro seeing a 14% increase in first-quarter sales in the consumer products unit.

But the cost of resin, packaging and metal have all risen over the past year.

Plus, transportation costs have soared because of high demand and supply chain disruptions caused by the pandemic.

The company said freight and other costs have increased, and the company has plans to offset the increases which include raising the price of the toys in the second half of the year.

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NBC News

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