Almost everywhere you shop, you’re likely to come across a bundle or a kit: The meal deal at the supermarket, the accessories that come including with a new piece of technology or that coordinated outfit on sale. Butdo you use bundles yourself for your eCommerce business?
If you’re selling on eBay, Amazon, your own webstore or any other channel, bundles can improve your average order value and increase your profits. Customers love them too! We’ve found many multichannel sellers avoid bundles because of concerns of stock and supply chain management. But with ChannelGrabber’s new stock features, you don’t need to worry about that!
Here are 6 reasons why you should be using bundles or selling kits – and how ChannelGrabber can help you avoid any stock management problems with our latest feature:
The benefits of selling bundles or kits:
1. Increase your average order value
By bundling items together, you’re giving your customers an easy opportunity to buy more from you, with one simple click. You’ll turn over more products and increase your profits from a single order.
2. Improve the shopping experience
Browsing for related products can be time consuming, and customers are often faced with decision exhaustion – there’s too much choice! Bundles help your customers, because you’re giving them a simple way to try new products, discover new ranges or get the useful items they might not have thought about.
3. Offer savings to customers
If you price correctly, bundles give your customers the chance to get a range of products for a lower price than buying individually. They see the savings, and there’s the perception of great value. They will be happy to opt for the higher price tag, because they feel they’re getting more for their money.
4. Increase your margins
Bundles give you the chance to include those items which have higher margins. If they’re cheap to produce but with a high price tag, you can include them in a kit, charge a good price for the bundle, and increase your profits with these larger margins.
5. Learn more about your customers
By creating different kinds of bundles, you’ll learn more about who your customers are, and what they like and dislike. If you find out they have certain interests, you can create more focused bundles for them in the future.
6. Provide a unique offer
Last, but by no means least, a bundle gives you a unique offer – something your competitors aren’t offering. Not only does it mean you’ll stand out, it also makes comparison shopping more difficult; customers can’t compare like for like on the price of products.
The biggest challenge with bundling - and how to overcome it
For eCommerce retailers – especially those selling on multiple channels – the biggest challenge with bundling is supply chain management. Maintaining accurate stock levels when you have different products within different bundles can be a nightmare – and then you still have to make sure your staff include the right products in the kit ready for despatch. Thankfully, one of the latest features in ChannelGrabber solves this problem: Linked Products.
By linking products together based on their SKU number, you can easily create bundles and:
Sync stock levels of all individual products - so when the stock of one product is reduced, the stock of the bundle that contains that product is automatically reduced too
Sync your bundle stock levels across every channel - so you can sell the same bundle in several places and not worry about overselling
Sell multi-packs of individual products at a discounted price - and track all your stock accurately
Automatically display individual products and their images in picking notes and order invoices - so staff can select everything they need for dispatch and customers can see everything they get as part of the bundle
Ready to start selling bundles with ChannelGrabber? Learn what otherstock management featureswe have here. If you've seen enough, get started below!