Product bundling, or the practice of selling two or more products under the same product listing, is a common strategy that many online stores are using. Not only can it increase sales, but it can also help you deal with overstock and improve customer satisfaction, by minimizing customer support tickets resulting from product incompatibilities. A good ecommerce inventory management app will make product bundling a lot easier. If you are running an e-commerce store, here are some effective product bundling tips.
- Bundle main products with useful accessories, as these tend to be the most popular product bundles. For example, a laptop can go great with a laptop bag or a wireless mouse. Amazon does a great job at bundling related products and can offer you many examples.
- Include in your product bundles overstock inventory whenever possible. If you have an overstock of SD cards, for example, you can bundle them with digital cameras, smartphones, or other devices that support them.
- Make your product bundles more enticing with a free item. Most product bundles consist of two or more products which, sold together, are cheaper than if they were bought separately. But if one item is free, the bundle becomes even more appealing. Again, this can help you reduce overstock.
- Don’t use a trial and error approach to product bundling, or you may end up with fewer sales, and even with overstock. The best approach to creating product bundles that sell is to look at your data. Among other things, look at what products your repeated customers are buying. Having an inventory control and planning solution with product bundling capabilities can help you with this.
- Go for mixed bundles rather than pure bundles, as research shows that customers prefer the former. A pure bundle includes products that can’t be bought separately. A mixed bundle, on the other hand, includes products which are available separately in your shop. The problem with pure bundles is that they can leave your customers with the impression that you’re simply trying to get rid of products that don’t sell.
- Ensure that all your mixed bundles result in a saving. The greater this saving, the better, of course, but you should aim for at least 5 to 10%. If your product bundles don’t help your customers save money, there won’t be a strong enough incentive for them to buy them.
To be an effective strategy for your e-commerce business, product bundling has to be used consistently. The simplest and most effective way to use product bundling is to choose an ecommerce inventory management app that comes with integrated bundling features, allowing you to create and manage bundles straight through your inventory framework. DataQlick is a cloud-based online inventory system and mobile app with advanced product bundling features. Find out more.
