Product bundling refers to the practice of selling multiple products as a single package. This is often done as a way to offer customers a discount on the products included in the bundle, or to make it more convenient for them to purchase related items at the same time. Product bundling can be an effective marketing strategy for businesses, as it can help to increase sales and customer loyalty.
What are its benefits?
5 Tips for Effective Product Bundling
Bundling can have different turns for ecommerce stores and retail stores. Even though the idea is same, the strategy deployed is often varied, and in this article, we’ll be focusing on ecommerce stores.
Let’s take a look:
One of the main benefits of product bundling for customers is that it can save them money. Offering a discount on the bundled products can be an effective way to encourage more customers to make a purchase.
Bundling products that are related or complementary can be a good way to create value for customers. For example, if you sell electronics, you could bundle a phone with a protective case and a screen protector.
Offer customers the option to purchase products either individually or as part of a bundle. This can give customers more flexibility and increase the chances that they will make a purchase.
Who doesn’t love freebies?! Offering free items together with a product bundle persuades customers to make purchases and encourages them to choose your product if they are fighting for attention in a saturated marketplace.
This may not be for every store, but if it works, it can be an effective way to increase your AOV. Allowing customers to choose products for their bundle (from a specified category of course) is also a good way to understand customer preferences and behavior.
The main intention behind product bundling is to increase sales and boost your AOV. However, the product bundles have to be well-suited, or they have to give the customer a good offer. If your product bundles don’t have at least one, you’re doing it in vain. Use social media & other marketing channels to promote your bundling offers, plus you may also offer them at checkout.
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