$250 for a T Shirt!
Posted on June 25 2017
So, I was browsing around online stores trying to figure out our target market and our positioning statement. I was looking at Bloomingdales when I came across this brand called Moschino.https://www.moschino.com/us/moschino/short-sleeve-t-shirts_cod37961603nf.html#dept=tshrts&season=main
What first got my attention was the price tag on the shirt, $250. I was like, ok maybe this shirt has some incredible materials or its some new water resistant material. I've come across a shirt maker in Australia that makes a water resistant shirt but it costs like $80. So the utility of the shirt is sort of worth the price.
I clicked on the link and under the description I found nothing spectacular.
Jersey - Round collar - Logo - Long sleeves
There is nothing of value for this t shirt other than the brand name. How can this shirt be selling at $250 and its just a normal 100% cotton shirt, not even ring spun.
Now I am not complaining, I am merely pointing out the absurdity of the situation.
Most of my shirts are made out of exceptionally feeling materials and they fit great. When you wash them, they do not turn into belly button shirts. They have a great meaning in every design that tells a story about the something meaningful. They are priced at relatively low points and they help shelter animals and veterans with PTSD with every purchase. They are printed here with American workers and support small businesses.
You get all of that with a mere $25 price tag.
On the other side, I go to Target and I see some exceptionally good quality clothing but at price points that boggle my mind. Beyond sheer volume selling, I can't see how anyone benefits from such a low price point. How much does the worker that sows together that shirt make if it sales for $5? Target has to make at least a 50% markup even to carry it.
Should I increase the price of my brand? Should I try and lower the price points? What do you want to see from us?