How to explain your prices to customers so they're willing to pay - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Business News News

So you think AOC's $58 sweatshirt is too expensive? Here's how brands should explain pricing so customers are willing to shell out the hard-earned cash.

, Stephen Punwasi, who worked in mass-market apparel for about 10 years for companies like Tevrow + Chase and Bluenotes, argues that the price of each piece of clothing reflects the cost of the materials and labor required to make it.

Stephen Punwasi is a founder, entrepreneur, chief analyst at real estate and economics media startup Better Dwelling, and COO at documentary studio Filmic Entertainment.The price of AOC's sweatshirt remains a case study for how businesses can more effectively and transparently communicate pricing to customers off the bat.Most apparel brands aim to sell their items for double the cost they pay to the manufacturer, according to Punwasi.

"Could it be cheaper? Yes, but one person's spending is another person's income," he said. "Racing to the bottom also means driving consumer wages lower, so balance is important." more informed and concerned about what goes into their purchases

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I'm don't know about the T-shirt, but the message 'tax the rich' might stir up more controversy than the price of the shirt 🤣

Your ignorance and bias is showing...

$58? LOL. There is always business when a sucker and a trickster leave the house in the morning.

No one has to explain pricing for their products. Take your broke ass to a cheaper company.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines