You cannot reduce your crowdfunding target once you have started your campaign.
Your options
When you create your project, you choose between two fundraising models:
Keep What You Raise
Receive all donations made by your closing date
Funds transfer even if you don't hit your target
Must post an update explaining how you'll use partial funding
Still need to deliver project benefits
All or Nothing
Must hit your target to receive any funds
Automatic refunds if target isn't reached
No option to reduce target during campaign
Need to hit full amount for success
If your target feels too high
You can:
Switch to Keep What You Raise model (provided you have not been awarded a donation from a funding partner)
Post an update explaining the change
Tell backers how you'll use partial funding
Be clear about revised project plans
Important things to know
Plan your target carefully before launch
Research costs thoroughly
Be realistic about what you can raise
Consider your community's capacity
Get costs verified before starting