What are product bundles?
Product bundles are made up of multiple products, sold as one single package. Buying a bundle can appeal more than buying each single product, by catering to a specific area of interest or specialty, or offering something completely new and different.
Easy to do and high value
Creating a product bundle does not require extra cost, time, or effort. Customers love bundles because they get a better bang for their buck, and bundling is often even more effective than discounts or savings alone. You should see an increase in marketplace sales, gains in overall revenue and average revenue per transaction by implementing this tactic.
How to bundle
Your product bundles can vary in size from large to small. All the products making up the bundle don't have to be directly related, or they can be selected to match and meet a particular theme.
Be creative! There are many different ways to combine, complement, and repurpose products to make attractive bundles.
Long shelf-life products
Do you have excess inventory sitting on your shelves or storage just taking up space? Consider repurposing these products into bundles. Product bundles are a very attractive value proposition for customers, and a great way to offload slow-moving stock: your customer gets more products for less cost, while you bring in extra sales.
You don't have to limit your bundles to older inventory: combine older products with new inventory to produce “extra value” bundles. This is a great way to introduce new products to customers who might otherwise be reluctant to try something different.
A classic approach to product bundles is selling related items. This appeals to customers shopping for a specific product. Since they are already interested in a particular product, they will be more likely and willing to spend extra money to buy a larger package at a reduced price.
Combine the most popular
If you have a few best-sellers selling like hot cakes, consider bundling them. Best-sellers make for highly attractive bundles. Customers don't like missing out on high value offers, especially if you run them as exclusive or for a limited time.
The possibilities are endless and will depend on your brand identity, what products you offer, and what your customers and audience expect. Since bundles are quite simple to put together, there is plenty of room for experimentation. Use your creative side and make some irresistible offers to your customers that will stand out in your own particular niche!
Whatever type of bundles you put together, your customers will appreciate the extra savings and added value. You will add new unique offers to your catalog, and you’ll likely bring in more marketplace sales too!
Do you want to grow your sales with our powerful marketplace integrator? You can book an online demo here. For more information on bundles, see here!