Funko Conquers the Collectors World Pt 2
Near the end of September we looked into how Funko conquered the collectors world. The last major key points we discussed was the fact that collectors were running out of room. We also touched on exclusives and how impactful they were on the longevity of the brand. We are diving back into Funko and we plan to look at these issues in details. Hang on, this one will be bumpy.
Collectors have faced some major challenges and Funko POP collectors are now seeing our pain; the lack of room. How could this impact the market? With space becoming an issue most collectors will have limited choices. The first choice will be to dump lines of POPS on the market or even liquidate collections as a whole. Some might even resort to boxing said collections up or even renting a storage building. Collectors often face these challenges monthly and I know from first hand, it is stressful. I am a former Super Star Wars Collector. I had to have everything, and I do mean everything. Funko POP collectors have this same mentality.
Having a focus on one line can be the difference of having 1200 POPS or 100 POPS. Collectors tend to buy one of every release and I have been seeing that trend more often than not. Now that is not a bad thing but it will lead into this major point. Once someone gets to a breaking point, he or she will dump a ton of POPS on the market. This could flood the market and send prices spiraling down. I can attest to that fact as POP sales are getting soft. This also leads into another major point; exclusives.
Exclusives are awesome but yet very frightening to the brand. It seems more people are going after exclusives than the core POP lines. Some exclusives are not bad but having multiple exclusive released daily is problematic. Before it was single store exclusives but once Hot Topic and other big box retailers got in the game, things changed. For example, I know a very well know POP dealer on the show circuit. Whenever a new release would come in you would be looking at a guaranteed sell out (with a few exceptions). This was guaranteed money for the dealer and in turn, they would re-order more of the same POPS or place new orders of upcoming POPS. The last few months we have seen the shift from the instant sell out to the more picky consumer. The price point has always been on par, if not below the show average so price is not an issue. The issue is collectors are running out of room and they chase exclusives in place of core POPS.
Do not get me wrong, exclusives are needed but too much of a good thing can cause problems. Take a look at SDCC and NYCC. While Funko has done a stellar job of getting fans most of these POPS as Summer Exclusives, we still run into major issues. Other retailers often have their exclusives at the shows and getting them is an undertaking. I can live without the exclusives but I have seen others leave the brand due to missing that one they so desperately needed. Most consumers would go to the secondary for the missed POPS but others don’t have extra funds to do so. It is a cat and mouse game at times and I do see the frustration on people’s faces.
This is not Funko’s fault but it will hurt the brand in the coming years. How much longer can Funko keep the POP train going? We do not know but the market is shifting. The only thing we can do is gauge interest in the lines and hope fans will continue to buy into the brand. We love POPS and Funko as a whole is an awesome company. This piece is not about bashing the brand but more of what could come. We have to be real with this and hope new fans continue to come on board. Exclusives need to slow down so the mainline POPS can sell. I was even told by an Hot Topic Manager (whom I will not name) that their numbers have dropped on common POP sales. Their exclusives sales continue to climb but the regular POPs are not selling like they used to. Companies will cut orders and that my friends, is the true start to the end of an amazing brand.
How do you feel about these articles? Would you like to see more from the team at Needless? If so comment below and let us know what you think!