Pricing is not easy, but it is simple. A good price sits between your brand’s cost to produce the item (with enough margin to pay yourself and your people) and the maximum amount of money your customer is willing to trade to purchase the item.
If there isn’t enough room between those two numbers to set a price that works for both you and the customer, you have two options. Either lower your costs or raise the value to make room for a price in between.
Lowering the cost means decreasing the quality or simplifying the design to find savings. This is what fast fashion brands do and, as we all know, the clothes are not as nice to wear.
Raising the value could mean lots of different things. It could mean describing your product and its benefits better. It could mean telling the story of your brand or the inspiration behind the item. It could mean highlighting your production values. It could mean designing something so unique that there aren’t cheaper dupes available. It could mean simplifying the design so that it has only the features your customers care about and none of the ones they don’t.
The bottom line is that if you don’t want to lower your costs to arrive at a profitable price, figure out what your target market values and get better at designing for and communicating that.