If you’ve ever wondered how many Lego sets are sold every second in the United States, you’re not alone. This toy company sells so much that each piece of Lego could fill 125 million houses in a day. And at five million pieces sold every hour, the numbers are even more amazing. What can be more fun than playing with your Legos? You can even build a model house with them!

Cost

The cost of a LEGO set can range from a few hundred dollars to several thousand dollars. Some of these sets contain thousands of pieces, such as the Taj Mahal, which costs around $400 brand-new. Others are more affordable, like the Lego Death Star 75159, which costs around four thousand dollars. A LEGO set may not be educational, but it is an excellent investment for your child. Hundreds of thousands of children are entertained and educated by the countless pieces of this toy.

The price of a typical set varies from one location to another. Prices have stayed fairly stable since the 1980s, with the average cost per piece hovering around $10. This means that larger sets are generally more expensive, but you can still find bargains online. However, it may be worth your time to sort through your used Lego collection. Otherwise, you may be stuck with a tangled mess of pieces that you can’t use.

Size

A scatterplot, like the one in the figure below, makes an excellent foundation for building analysis. In this case, the size of Lego sets sold in the US is broken down into their number of pieces. Before 1985, the largest Lego set sold in the US was less than 1000 pieces. Now, the largest set sold is the Taj Majal, with 5922 pieces. Lego’s color palette has broadened, but only about 80% of the pieces are in one of the top ten colors.

Since 1999, the number of Lego sets has increased by about 4% per year. The proportion of sets that do not have any bricks in common has been decreasing. This decrease is especially noticeable for size 10 and larger sets. The proportion of sets that are the same size has increased by nearly two-thirds since 1999. However, it is unclear why such a large percentage of sets are similar to one another. Clearly, the smaller sets are more likely to be one-of-a-kind.

Availability

Availability of LEGO sets in the US is a major concern for many parents. Prices are fairly stable, at about $0.10 per piece. The larger the set, the higher the price will be. However, you should be aware that new sets can be more expensive than the old ones. There are many places to buy Lego sets in the US, including BrickLink. You can also buy used sets if you’re lucky enough to find a brick set that is still in good condition.

Resale value

For the average consumer, the resale value of a Lego set is 50% to 75% of its retail price. This price reaches an all-time high six to twelve months after the set has been retired. As demand for the set continues to rise, the value of the set will steadily increase. Currently, an unsorted Lego set is worth between six and twelve dollars per pound. Bricks sorted by color are worth more. Additionally, desirable pieces may increase the value.

Collectors’ desire and rarity drive the value of Lego sets. An example of this is the Millennium Falcon, a limited edition set that sold out on the primary market. This caused its secondary market price to soar to over five thousand dollars. However, a new, limited edition version of the Millennium Falcon was released, with a similar price tag: $800. This immediately had a drastic impact on the original $500 set.

Future growth

As the market for children’s toys continues to mature, it is important to keep an eye on LEGO’s business model and operating efficiencies. Despite the dramatic turnaround in recent years, it has failed to foresee the sudden increase in European demand around Christmas time. In order to make sure it meets demand, LEGO should focus on improving its customer demand forecasting capabilities. As of last year, its sales team met monthly to revise its order estimates based on sales in the previous month.

While the growth rate of Lego sets in the US is expected to slow down as children grow older, the company is not letting this development deter it from expanding its global footprint. It is now building factories in Mexico, Hungary, the Czech Republic, and China. The company is also opening a manufacturing facility in China to meet growing demand for Chinese children. The company’s size has helped it to create barriers to entry in several countries.