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If you have ever thought about how great it would be to get all your items out of your inventory in one swift move, then here’s a great start to achieving that. Bundling products is a sure way to getting much needed exposure for your store while getting rid of slow moving inventory and raking in some profit in the process. You can consider the benefits of bundling below:
Product Bundling Increases Shipping Speed- You can prepare and send out a package of bundled products quicker than preparing a bunch of separate items and sending them out after gathering them.
Product Bundling Increases Inventory Efficiency– When putting together the bundled merchandise, you can focus on one trip down your inventory location to get the bundled package, as opposed to gathering individual products, one at a time.
Product Bundling Leads to Extra Sales- With product bundling, your buyers can order and purchase products they might not otherwise have considered or purchased.
A bundle could consist of two or three items in high demand, sold at a discounted price, about a third lower than the sum of their individual prices. In another situation, it could be a bundle with items known to have a poor sales history and another in high demand. In this case the item in high demand is the persuading factor or marketing tool. Here are some examples of suggested “product bundling” you could consider:
Electronics / Computer & Accessories– The items in your bundle should always complement one another. Also using larger items to push smaller ones is another great strategy to introduce newer or unknown products. For example, an electronic bundle can consist of a Flat Screen Television + Home Theater set, while a Computer & Accessories bundle can consist of a Monitor+ Laptop + Mouse pad. Another example of a great electronic bundle is a Flat Screen Television + Refrigerator +Washing Machine + Microwave. A buyer looking to furnish his apartment would not hesitate to grab this deal at the right price.
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Samsung 32”+Home Theater+15” Monitor Bundle
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LG 56”+Refridgerator+Washing Machine + Microwave Bundle
Fashion / Beauty & Health Care- For the fashion category, there are various amount of ways to bundle your products. It could be between three (3) differently styled T-shirts or Two (2) Shirts with different pattern and color. For Beauty & Health Care you can consider bundling a set of facial Make-up that can include Cleanser + Facial Wipes + Makeup remover + Toner or simply bundle Hair Products + Hair Dryer + Hair Straightener. It has been proven buyers love to have varieties, especially when they feel they are getting two for the price of one. This way each time you sell one shirt, you’re certain two or three more go with it.
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Avon Facial Bundle
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George 3 Packs Fashion T-shirt
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Deo Milano Pack of Two TY Long Sleeve Shirts
Home & Kitchen / Games- To bundle home products, consider bundling daily needed kitchen items. For example, a Blender + Toaster + Electric Heater. For Games category, you could easily bundle the console with one or two video games and even throw in a gaming head set to spice up the deal. Buyers just love “Freebies”. Once again, you’ll find out you are offloading several products at a fast rate and freeing up space to update your inventory.
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PlayStation 4 Bundle PS4 Console + Last of us Voucher
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Full Kitchen Appliance Bundle
Ensure your product bundling title reflects that this is a bundle offer and thus, must include the names of all bundled items.For Home & Kitchen that has more than 2 or 3 products bundled together, consider using the product title- Full Kitchen Appliance Bundle
Once you get your product combinations right and put all the above information into consideration, you are on your way to recording great sales and building repeat buyers. However, note that the key to successful sales through product bundling is your ability to combine products that will compliment one another. With strategic bundling, you stand a lot to achieve including increased profit margins, higher sales opportunities and exposure to potential buyers.
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