Who could resist a deal where you receive more for less? If you’ve ever indulged in a combo offer at a
Product bundling can offer quite a few advantages to your corporation, aiding in various objectives, resembling boosting your average order value (AOV) and introducing recent products.
In this text, we will explore different product bundling strategies and what you’ll be able to achieve with each. Since each business has its own flair, consider it as a spark of inspiration moderately than a strict rulebook.
Product Bundling Strategies: Examples and Advantages
There are many different product bundling strategies which you can implement in your store. These strategies can cater to various customer preferences and enhance your marketing efforts.
By the way, Ecwid sellers can simplify the means of product bundling using the Product Bundles: Mix Items and Sell More app to create bundles effortlessly. Simply select the products for a bundle and specify the discount amount.
Listed here are a few of the commonest product bundle strategies:
Pure Bundles
Pure bundles are a set of products that can not be sold individually. They’re only available as a package.
This bundling strategy works best for products designed to be used together, resembling a DIY box or a meal kit delivery.
It is probably not a good idea to create a pure bundle out of products that usually are not directly connected to each other.
Advantages for a business: Offering pure bundles is a quick method to boost average order value, as customers are compelled to buy the complete package even when they need only a few items.
Pure bundles (when created thoughtfully) also provide help to get the most out of seasonal events, resembling Christmas or Halloween. At these times, customers is likely to be on the lookout for a package of products tailored for a specific occasion.
Examples of pure bundles: Blue Apron is a
One other example is the Dyson Airwrap which comes with attachments:
Also, these kids’ sewing kits include fabrics, filling, and threads:
Same Product Bundles
This bundling strategy works best for products that may be utilized in large quantities or have a long
Consider products which might be used permanently or repetitively. Oral care products, that are used day by day, could make a great
Pro tip: use order history to discover what products your customers buy greater than once.
Advantages for a business:
In addition they decrease marketing and distribution costs, as it is more
Examples of same product bundles: This 12 Pack of Lemonade from Sprecher Brewery:
Or,
Mixed Products Bundles
Mixed product bundles are packages that contain two or more different products sold together at a cheaper price. Unlike products in pure bundles, mixed product bundles may be purchased individually.
This bundling strategy works best for products that may be used together, resembling a
Advantages for a business: The sort of bundle is a great help when it involves
Mixed product bundles make it easier to launch recent products and stand out from competitors. As an example, you’ll be able to create a bundle out of your bestseller and a recent product.
Mixed product bundles also help increase AOV by encouraging customers to purchase more items than initially planned.
Examples of mixed product bundles: A classic one is Big Mac McDonald’s Combo Meal, a burger served with fries and a drink.
Colourpop value makeup sets are one other great example:
Or, this automobile cleansing kit from ArmorAll, which incorporates cleansing wipes, a automobile wash, glass cleaner, and other cleansing tools:
Mix-and-Match Bundles
This bundling strategy works best for products with multiple variations, resembling clothing or accessories.
It is safer to give a customer the probability to select from different items at the same cost. For instance, you let your customers select from various flavors of the same drinks.
Advantages for a business:
In addition they decrease marketing and distribution costs by allowing customers to select items already in inventory.
One other positive side effect is which you can see the most and the least popular product variations after a while and consider this information when restocking.
Examples of
Lane’s BBQ offers its customers the choice to select 4 out of eleven seasonings and the size of the bags.
Cross-Sell Bundles
This bundling strategy may be used for items with complementary products, resembling fragrances and scented lotions.
When creating
Advantages for a business:
In addition they may be helpful through the holiday season when people are inclined to buy greater than they planned.
Examples of
The A little something extra section at the checkout on Asos is an excellent example of
Without end 21 uses a similar approach with its Complete the look suggestion.
Upsell Bundles
Upsell bundles offer a product upgrade to the initial selection. The concept behind this strategy is to offer a customer a higher version of a product for a reasonable price.
This bundling strategy is a perfect selection for products with premium options or
Advantages for a business: Upsell bundles increase AOV and customer satisfaction by offering premium options that improve the overall customer experience.
Examples of upsell bundles: Bands and loops for Apple Watch are offered when customers add watches to their carts.
Crocs allows their customers to add surprise accessories to their shoes.
Eyeglasses stores often offer additional lens protection, cases, and other ways to upgrade the initial purchase.
Tips on how to Select a Product Bundling Strategy?
While each bundling strategy has benefits, it is essential to select people who best suit your corporation goals and your customers’ needs.
Listed here are some steps you’ll be able to take to select which bundling strategy you need to try first:
Make sure the Bundle Offers Higher Value Than Buying Items Individually
Before deciding on a bundle strategy, be sure that that the bundled items offer a higher value to customers than if they purchased the items individually.
If the bundle doesn’t provide a significant discount or doesn’t address a certain pain point, customers is probably not inclined to purchase it, and it could negatively impact your sales.
Bundling a
Define Your Goals and How the Bundle Strategy Can Help Achieve Them
It is possible to have many business goals, but when selecting a product bundling strategy, deal with one or two.
Are you seeking to increase AOV, reduce inventory costs, or launch recent products?
Pure bundles will probably be perfect for an intense holiday season, but they won’t be as great at representing your customers’ preferences as
If a few of your products take too long to sell, it won’t be a good idea to sell them in the same product bundles. Consider including
When you’ve identified your goals, you’ll be able to review the list above and determine which bundle strategy is best for them.
Address Customer Pain Points and Solve Them with Your Bundles
Consider your customers’ pain points and how your bundles can address them. For instance, if your customers often buy the same product, it may be convenient for them to buy in bulk.
Or you’ll be able to put together a set where each product solves a different a part of a complicated issue. Consider items like baby boxes or skincare beauty sets.
Test Different Combos to Find the Best Fit for Your Store
Try different bundling combos to see which of them work best for your store. You’ll be able to experiment with different products, pricing, and discounts to determine what resonates along with your customers.
As an example, it’s possible you’ll find pure bundles not working for your corporation but notice a significant increase in sales with
Get Inspired by Effective Bundles of Other Businesses
Research big businesses which have implemented successful bundle strategies and see if you’ll be able to adapt their technique to your store.
Take a look at your competitors’ bundle offerings and see how you’ll be able to differentiate yourself. Examples provided in this text may be a source of inspiration, too.
Implementing a successful bundle strategy can take your corporation to the next level and open recent growth opportunities. Any of the six bundling strategies mentioned in this text can boost sales or introduce a recent product.
The Product Bundles: Mix Items and Sell More app is a great help to any business owner adding bundles to their store. Be at liberty to experiment with different strategies, and at all times keep in mind each your goals and your customers’ needs.
