When I first posted about Harbor Freight’s new pro-grade Icon tool boxes, I wrote about the sticker shock.
Harbor Freight teased about their Icon tool boxes prior to their launch, estimating their 56″ x 25″ x 45″ tool cabinet as being priced at $2499. When it launched, the price was $4000, and Harbor Freight compared it to Snap-on’s $6945 cabinet.
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Harbor Freight has had a couple of 20% Icon tool storage coupons, dropping the price of that 56″ base cabinet to $3200.
Harbor Freight sent out an email newsletter a couple of days ago, announcing their best-ever prices on Icon tool storage. They weren’t kidding.
The 56″ base cabinet has seen a whopping $1200 discount, and that’s BEFORE the new 20% coupon drops the price further, to $2240.
In other words, the Harbor Freight Icon 56″ tool box cabinet is now 44% off. You save nearly $1800 on a previously $4000 tool box, which is just crazy.
Their 36″ Icon tool box roller cabinet is now $1600 after coupon, from an old price of $2700. That’s a nearly 41% net discount.
If you look at the 73″ Icon tool storage base cabinet, you save nearly $2000 off the original $5000 sticker price. With the 20% coupon, that’s a net discount of around 39%!
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Prices have plummeted across Harbor Freight’s Icon tool storage product line, including on end cabinets, overhead cabinets, work centers, top tool box chests, and even accessories.
What we know: Harbor Freight has significantly slashed the prices on Icon tool storage products.
What we don’t know: Why?
As far as I can tell, there are two possibilities:
1) Harbor Freight had these prices in mind all along. Launching a new premium and pro-grade tool storage system at high prices got people talking. There were likely some early adopters, but there were perhaps more people who checked them out in-stores and considered that the prices were just a bit too high. Well, now the prices are a lot lower, who’s in for one?
2) Harbor Freight’s Icon tool box pricing was simply too high to gain substantial market share.
The 56″ base cabinet used to be $4000 before coupon, and is now priced at $2800 before coupon. Ignoring the 20% coupon, that’s still a 30% decrease in price. Their 36″ base cabinet has been discounted by ~26%, and their 73″ tool cabinet by 24%, again before 20% coupon.
So independent of that regular Icon tool storage 20% coupon, Harbor Freight has discounted its 3 Icon tool box cabinet sizes by 24% to 30%. The 20% coupon has popped up before, and it’s likely the “old” and “new” prices alike are inflated to accommodate this discount.
3) I suppose there’s also the remote possibility that sales volume has been so well that they were able to lower production costs and pass the savings onto customers, which is what Bridge City recently said about their new woodworking tool discounts.
But, let’s think about this practically – if sales are so successful that production costs can be meaningfully lowered, you don’t suddenly and dramatically lower prices. You sell at the introductory price, pocket extra profit, and then when sales slow down, then you lower prices to increase demand.
It doesn’t make sense that they would lower prices when demand is high.
So, which is it?
- This was the plan all along.
- This is a reactive measure, in response to low demand.
From what I can tell, from reader comments and other online discussions, there has been high interest in the Icon tool storage line, but few purchases. Harbor Freight’s US General tool boxes sell very well, but it seems that there was softer interest in the much higher-priced Icon tool storage products.
Icon tool storage products are larger, more featured, and beefier-built than US General, and the price reflected that.
Thus, it could be that slow sales prompted the price drops. This is the most reasonable explanation from marketing and economic standpoints.
However, these tool boxes appear to be well-built (an immature judgement from examining the in-store display), with Harbor Freight spending a lot of time and effort on their design, production, and marketing. Their entire Icon mechanics tools lineup does appear to be intended as a big step-up in quality and performance.
It could be possible that they expected some user hesitation about the initial launch prices. Icon tool box prices weren’t just uncharacteristically high for Harbor Freight, but perhaps even exorbitantly so. What if that was on purpose?
This seems possible, but unlikely, as lowering the prices less than a year later will burn any early adopters. Harbor Freight’s pricing might take into account 20% coupons, but I wouldn’t think they’d factor in a 24-30% introductory premium on top of that.
Still, there is the fact that their 2018 Icon tool box teaser had the 56″ base cabinet priced at $2500. It was because of this that the $4000 launch price was surprising. Now, its new price is said to be $2800, and $2240 after 20% coupon.
Thus, this could have been Harbor Freight’s plan all along, to drop the pricing on Icon tool boxes just before Father’s Day. But if so, this price change wouldn’t have significant long-term impact on the Icon tool storage lineup.
If this price drop resulted from low demand and low sales volume, how will this affect future Harbor Freight tool and tool storage launches?
From what I’ve seen, Harbor Freight Icon tools have been flying off the shelf, at least a couple of months ago, just after their ratchets first launched. Any ramifications would likely be isolated to the tool storage category.
If these Icon tool box and accessory discounts resulted from low sales, it could definitely affect their product roadmap. But then again, as users’ perceptions change over time, perhaps they might grow accustomed to more premium Harbor Freight tools and offerings at more premium prices.
It’s worth noting that Harbor Freight launched a sliding miter saw in 2018, at the time pricing it at $390 after coupon ($399 before). The price is currently $350. But to price a tool cabinet at $4000 before coupon and then $2800 before coupon, that is a far more significant change.
Something prompted these steep discounts.
A more cautious customer might be concerned about the future of the Icon lineup. If demand is low and sales slow, will an owner be able to add a matching top chest and side locker to their base cabinet in a year or two when finances permit it or as needs change? What about after five years?
Personally, I would gamble that Harbor Freight knows their customers and their loyalty. Other tool retailers and brands have abandoned less successful product lines – especially tool storage – but my gut instinct tells me that Harbor Freight wouldn’t do this, or perhaps they’d try a lot more before resorting to it.
Maybe they’ll suffer lower profit margins for now, and plan for re-worked Icon 2.0 tool storage products at similar pricing. But again, that’s assuming this price drop was in response to user perception and softer interest at launch pricing than anticipated. This wouldn’t have been their target pricing all along, right?
Moving past the why or what does this mean for Harbor Freight parts, I want to hear about what this means for you.
Harbor Freight has slashed the prices of their Icon tool cabinets, chests, and other storage products. How do you feel about it?
Oh, and here’s the coupon if you need it, good thru June 30th, 2020:
Kicking the Tires on the New Harbor Freight Icon Tool Cabinet
Mark
I’ll bet that guy that bought one of these at full price is mad as hell right now. Seriously that’s a huge difference. I’d speculate demand is close to zero. I’d also say their icon line has low interest, but haven’t heard. I know I don’t go to HF looking for quality tools. I go there for one off items or disposable items.
Naithal
In my opinion and take that with what you or anyone will, anyone that paid the original price for these made in China tool chests either has expendable income and or was taken for a long ride by a salesperson. To each their own, but I’d take the Proto or Snap-On boxes any day of the week. They must cost a little bit more perhaps, but they have quality American made steel that and have lasted me decades of very use.
Harbor Freight is okay for throw away items, but I wouldn’t pay tool truck prices for these imported boxes. This is the beauty of the free market, people can choose what they can spend their money on.
Cheap Fake
Other than professional mechanics I would like to know who buys there tool boxes. I have far better things to do with my money than spend thousands on a tin box that sits in my garage and collects dust most of the time.
Harbour freight is in the worst of two wolds; they sell products that most professions see as inferior and most households buy because they use the tools a couple of times for small projects. Why would either spend a significant amount of cash on a product like this?
I admit I have walked round the tool boxes at HB and thought they would look cool in my garage untill I see the prices then I wake up and smell the bacon
PJ
This is par for the course on new products from Harbor Freight. They often shoot for the moon and then reduce prices, few new products go up in price initially.
A good example is the Earthquake 12V polisher #64479. The initial price was $199.99 with a coupon bringing it to $169.99. That was in the January 2019 coupon catalog. By March of 2019 the regular price was $149.99 with a coupon price of $99.99. More recently the regular price is $119.99 with a coupon price of $89.99.
Javier A.
What’s up struggleville! 🙂
John
People don’t go to HF to spend that kind of money. I doubt this will make much difference in sales volume. US General tool chests are good enough and a fraction of the price. It’s a tool box for heaven’s sake, it rarely needs to roll, drawers slide and it holds tools. No one brags about owning HF tool chests to warrant that price point before or after the reduction.
aerodawg
I needed a new box recently and compared the US General to the ICON, Craftsman, Husky, etc etc. I came away liking the USG better than the other box store brands. Between the USG and Icon, I think the Icon was a better piece generally, but not 5X the price better. Because as you said, it’s a toolbox, it doesn’t have to do much.
MikeIt
I think HF must have been getting high sniffing their own stinky rubber. I think the drop in price is reactive due to low demand. I was recently in the market to upgrade my tool storage to something bigger than a 26″ wide combo. I checked out the ICON line and while it’s very nice, I don’t think its “SnapOn money” nice. Yes, I realize its cheaper than SO but you are still paying a huge premium over the US General stuff, which to me was already nice. A 36″ ICON cabinet is $2000 while a 44″ US General (there is no 36″) is $500. That’s 4x the price! Just for comparison you can get a 42″ Proto cabinet for under $1200. I know HF wants to price it like a high end product to make people buy in to the “you get what you pay for” marketing but let’s be honest. HF shoppers mainly go there because it’s inexpensive. I think the high pricing has kept buyers away from ICON and possibly just made them settle on US General instead, which they were probably going to buy anyway. I think it would interesting to hear from an HF employee and tell us how many ICON units they move compared to US General. If they could tell us the margin on each product that would be even more interesting!
Diplomatic Immunity
Considering the astronomical prices of most USA made toolboxes I wouldn’t be shocked that with the ICON price reduction these things start moving a bit more.
Eric
You can still buy a really nice used Snap On box for less. And know that you’ll actually be able to get parts for it in 10 years if you need them.
Tim
Who cares what a used box costs compared to new? I know I don’t. I want new boxes, not something someone has used and abused to save a couple bucks. The comparison really isn’t there.
The current pricing on ICON makes it appealing; 73” with the hutch and the larger end boxes that aren’t available in US General line, and don’t have to get raped by the snap on guy. Let’s face it: snap on is overpriced by a factor of tens, and I for one refuse to buy snap on. Period.
JasonM
The price gap was (and still is) too large and the quality gap too small between ICON and the US General Line.
Example of 72″ USGeneral being $1,199 vs new 73″ ICON at $3,039, I’m still buying the US General and feel like I got a great quality product.
Lynyrd
The New Lower Price before discount is actual closer to the first preliminary advertised prices when ICON Tool Storage line was first announced. However when the line hit the stores its pricing was much higher – way higher.
I would want to know more what prompted HF to introduce at that higher price in the first place.
Ken
I wonder if there is some requirement to offer an item for a higher price for some period to be able to show the “discount”
William
Don’t really think the Icon line was aimed at the regular HF audience. Most people love HF because of the pricing. Their Regular tool cabinets work just fine, and although a high end box is a nice luxury item, that’s hard to justify for most people.
I’d love a Large Snap in Box or even an Icon Box, but I went with a cheaper box and saved the money for other things.
Jp
I’d give them a chance had I the money. Even at these prices it’s way above my level. I’m rocking 12 year old bottom line holiday craftsman specials. But hey, they still work as good as on day one.
teicher
I think the price dropped because they misread the market and overestimated their ability to serve it. Like others have said, no one goes to HF to spend that kind of money. They know they have a reputation for making a lot of crap, and saw they an opening as Sears was dying and the big box stores weren’t jumping to fill it. Problem is, their reputation would at best let them sell a few notches higher US General box at a higher price. Same applies to the rest of the icon tools. Once you target an upscale market like that, there are a lot of secondary things you have to have in place to let the customer feel it was worth stepping up. Even the basics, like a separate catalog that didn’t show their good tool lines on a page over from the junk. HF didn’t do anything of the sort. Hate to use the word brand here, but that’s their problem. Icon isn’t there brand, Harbor Freight in their brand. Its the only brand name anyone seems to use once they see that a tool came from HF, even if it was called US General or Icon or Central Pneumatic.
Eric
They’re going to have problems with their image for a long time. If they want to play with the big boys they need to act like them. I don’t care if they change the brand or model of some $25 tool, or only offer a 90 day warranty on it. Or that I may not be able to get parts for it in the future. It’s a much bigger problem when they price stuff to compete with the brand names and then still only offer that limited support. Why should I invest in one of their way to many battery platforms when it could disapear one day like Lynxx did recently and all the others before it. It doesn’t inspire confidence in them for things that I plan on keeping around for a while. Will I be able to buy parts or compatible add on pieces in 5 years? 10 years? Are parts for those and Icon boxes going to dry up when the tariffs change again? I’ve seen a lot of US General gen 1 box owners that feel like they got the shaft when they switched to gen 2. It’s not the end of the world for a $400 box. But when it’s a $4000 box I want some assurances. At least if I pay a little more for a new Snap On box, or similar or less for a used one I know that I’ll be able to get support from them years down the line if I need it.
Bruce
Crazy upmarket move for a decidedly bottom dweller tool retailer. No way are they selling that much.
Harry
Even with the price drop, they’re still expensive. A tool box purchase at that price is a lifetime purchase. I’ve fondled the icon boxes in my local harbor freight and at last year’s SEMA show. Anything can look great out of the box. However, the great unknown is how long will harbor freight support these boxes with replacement slides and other parts?
Then there’s the question of resale value. Truck brands boxes despite their high initial cost, tend to retain some of their value and you can usually trade it in on a larger unit. I’m not sure what a used icon box would fetch.
Brian M Harris
Has anyone seen an Icon box in the wild? Do you know anyone who has purchased one? There are not very many videos on youtube featuring Icon boxes.
They haven’t sold that many
Blocky
My guess this was the plan all along. Priced at 4K, they got serious snap-on compare and contrast consideration. Now dropped to ~2.2k and it psychologically feels like a deal because of relative evaluation. But that’s only 10% off the target price we expected two years back.
Even if they don’t sell many toolbox units, it adds perceived value to smaller icon tools— icon as a complete system — setting a tone of pro-level prestige. Maybe I can’t/ won’t ever buy the cabinet, but surely I can get a taste of the good stuff buying yet another ratchet.
OhioHead
I have not seen an Icon box in the wild or @ a local store (I remember the limited in store displays initially – can’t vouch for the quality).
How does the discounted Icon pricing compare to the MKE boxes @ HD or truck style tool boxes @ Menard’s?
Bobby
Nobody has been buying these, especially when you can get a snap-on box for slightly more. I wouldn’t be surprised to see these get discontinued. They’re competing against themselves with the US General line in my opinion.
Greg
I think this pricing level was built in all along but they were hopeful of keeping it where it was at. Demand is probably the reason. The store local to me only has the smallest Icon box. They don’t have the room for all the other boxes. The manager said that he doubts even that smallest one will sell around here as they only move the 30″ US Generals and US General tool carts the most.
Flotsam
Have we considered the economy might be having more than a little bit of an impact on sales? There is a lot of economic uncertainty right now and this is a big ticket item.
Stuart
I don’t think that HF would issue such massive price cuts in response to temporary headwinds.
Gary Greene
It’s not the entire reason by any means, but their recent recall of jack stands was maybe a piece of this. DISTRACT DISTRACT DISTRACT. A LOT of people owned these stands, including me. Mine had been in regular use the past few months while crawling around under a vehicle I’m restoring during the pandemic, and I was seriously pissed that I had been risking my life or possible disability on the altar of profits before replacing worn-out tooling. Mine went back the same day as the recall. Further, there was no refund, just a gift card, so HF’s cost in this is arguably nothing, no penalty whatsoever, except in reputation, which wasn’t sterling, to begin with. But it will be a long time, if ever, before I go to HF for anything other than disposables/one-off use items. And I won’t be spending my gift card on ICON.
Bob
Very hard for a brand to move upmarket. They took a shot at premuim pricing but the market seemingly has decided the value proposition is not there. So they are slashing prices to move inventory.
Also did that store credit card ever materialize? Im guessing you had to have decent to excellent credit to get the entire purchase on the card.
Tool trucks on the other hand have easy credit because the product itself has high collateral (even used) and can be easily repoed. Used Icon box is worth very little and HF credid card collections company isn’t comming to your house to get the box back.
Rascally
I’ve been buying from Harbor Freight since 1977 when they were a catalog mail order company. Back then it took about 3 weeks to get your stuff. Everyone loves a good deal and I support the notion that people buy HF tools for a low use item. But honestly their tool quality has improved over the years. Now they show good better best tool options. I still believe the reason for adding all the brand names to their tools, is to limit the use of the readily available 20% coupon.
As for the Icon tool chests, they were testing the limits of their marketing. And they found it. It made the US General sell better, and it gave them something to slash prices on. With the new prices, if I was willing to buy ICON, you better buy all the pieces you want now, because they may drop the product when current stock is depleted.
Chris
I go to HF *maybe* once a year. I thought they were known for bargain basement prices and marginal quality tools? A professional mechanic wouldn’t buy his stuff there, but that one time you need some oddball tool you might only use once and can get for under $10 there vs. $50 or more somewhere else…. that’s where you go.
Who thinks of them as a place to buy a $2000+ high quality tool cabinet, or a high quality *anything*, for that matter?
Has anyone seen a post on any forum from someone proudly announcing the purchase of one of those cabinets at the “old price” ??? I find that really hard to believe.
Are any of you familiar with Matt from Obsessed Garage? He sells Sonic & Saber brand cabinets. He’s rather “discerning” for lack of a better way to put it, and probably wouldn’t use an Icon cabinet for target practice. Just mentioning that in case anyone is actually looking for a cabinet right now. I’m not here shilling for him – I disagree with his point of view on a number of things, but the guy does have nice stuff.
John
By dropping the prices so dramatically, HF has instantly reduced the perceived value of the product . If HF can afford to offer crazy discounts on “premium” ICON products, are customers really getting their money’s worth?
In this case, I think HF went a little too aggressively towards a market they don’t fully understand. The USG products are a better fit for their customers and are great boxes for the price. It’s possible that the premium priced ICON products turned their customer off.
Carl J
Never could figure out the “gotta have a $5 grand toolbox” mentality. Other then keeping up appearances with the wrench turner in the next bay over at the car dealership, what is a $5 grand box doing for anyone? Its purpose is to hold tools. A box costing a fraction of those overpriced rolling carts performs the function just find, thank you very much.
I’ve had a USG box for over 5 years now. The lid still opens and shuts, the drawers still easily glide in and out. The wheels still turn and steer easily and the paint has held up great, even though I have used the top as a workbench.
JOHN LEPKOWSKI
Its not a appearance th ing, its a practical thing. A pro drawer can be ipened and closed many times a day. I ezpect that box to last at least 20 years of hard use befor i sell it. Beyong that is when we move from shop to shop. A full box will weigh over 5000 lb. Often They get yanked up on a tow truck to be moved. Box must withstand that many times in its lifetime and not tqist out of shape. I own a us general box at home. Every time i relocate it, it flexes and twist. Ots a decent box and im happy with it but it will wear out too fast under heavy use.
Bob
Alot of what Carl J says is true. Some of the tool truck toolbox “need” is hype for sure.
Build quality on truck brand boxes is better. But how much better and the value proposition is hard to determine. The imports certainly are catching up in some aspects.
Mike (the other one)
HF thought they could compete with tool truck brands but are realizing they can’t. Granted, the Icon tools and boxes are nicer than most of the other stuff, but not worth the price. Spend a little bit more (or less in some cases) and you can get a box or tool from a reputable brand that’s been around for decades and will still be around when you need parts in the future.
Santo
I remember when these Icon tool boxes first appeared in the HF flyers, I almost spit out my coffee laughing when I saw how much they wanted for them. I even made a prediction at that very moment that this tool storage line would fall flat on its face, who in their right mind would spend that? Notice they dont have a star rating system for either one of these boxes yet? Its because no one has been buying them to create the star review rating system. You can get a Tool Vault, Montezuma or Extreme Tool box for much less and these are also foreign made, with highly proven track records from strictlytoolboxes or Rockintoolboxes. All the testimonials and youtube vids showing said toolboxes even after 5 yrs of real life use. They will also finance you via affirm and deliver it right to your door with excellent customer service what Ive researched….the HF june flyer has the prices of the icon boxes dropping like stones plus the added 20% off coupon, I still think the prices are still too high especially for a box we know so little about with uncertain after purchase support. For instance look at the icon 72 inch box, its only 25 in wide and with discounts it comes to be just north of $3000. For $3300 I can get a 72 inch X 30 inch wide Tool Vault or Extreme Box with more features and color scheme options than Icon every dreamt of…
Jake
I don’t know about their “icon tool boxes”, but upon checking their website and mailer catalog…. HF has RAISED the prices on their ‘Tool Carts’ by $50 across the board !=((
e.g…. The HF ‘4 Drawer Tech Cart’ was already a ridiculous $149.99
But now they’ve raised it to $199.99 …(I bought one in 2017 for $99.99 on sale ! )
e.g…. The HF ‘5 Drawer Mechanic’s Cart’… is now $239.99 …(I purchased it for $149.99 on sale !) But they hardly ever/or never put them on sale anymore. :~\
So HF has raised the prices of their ‘Tool Carts’ $50, across the board, and they hardly ever go on sale.
Jake
. . To: Gary Greene . .
Thanks for the heads-up on the HF jack stands !
I have 4 of them, and hadn’t heard of the recall. ;~\
You may have saved my life !;-)
G Greene
Glad I could help!
Leonard [Redacted]
This article, unfortunately, must be completely fake, because Harbor Freight does not currently, and has never, accepted the 20-25% off coupons on any of the U.S General or Icon tool boxes. They are clearly exempted from use on those products in the small print at the bottom of ALL Harbor Freight coupons.
Shame that better verification and vetting of content isn’t done here, as it USED to be done.
Stuart
I assure you that nothing here is “fake” and that Harbor Freight was the direct source of the publicly-available information. You will find all this and more in their 5/21/2020 email newsletter.
I suppose here is another “must be completely fake” coupon that’s good for 20% off Harbor Freight Icon tool storage: https://go.harborfreight.com/coupons/2020/07/20-off-icon-storage-valid-through-8-31-20/
It’s a shame that you didn’t seek to check your facts before making false accusations.