- Plans & Pricing
Bundling products is so effective that it can instantly send sales skyrocketing.
According to a Harvard Business School Study, Nintendo uses it to boost unit sales by as much as 100,000 units with a single campaign.
Kitting and bundling offer your e-commerce business a clever way to connect your products.
For example, you might sell three pieces of luggage each on their own or combine them on a single SKU.
Bundling is an inventory management technique that involves two or more complementary goods or services as a package.
When e-commerce companies create product kits, a separate listing appears for each included product. If the product is also sold independently, the exposure to the customer doubles. This helps you move slow products out of inventory.
Bundled items are sold at a significantly lower cost than buying individual items. This increase in revenue typically more than makes up for the lower gross margin on individual products.
Bundled pricing generates a large spectrum of buyers - reaching deal hunters, those looking for advice on product pairing, and those who like the convenience of ordering similar products together.
As a seller, you can use a variety of selling strategies, such as:
A great example of product bundling is the McDonald's Happy Meal, which is convenient for customers and helps the company sell more of each included item than offering them individually.
As with most inventory management strategies, there's no exact formula for bundling and kitting products.
You can follow the data and use common sense to pair best sellers and inventory duds to move more items out of the warehouse.
This marketing tool can help businesses sell more items in one customer encounter, and can open doors to new products and new marketing channels.
When you bundle items, take care to offer different combinations than your competitors. Your buyers will notice when you include something to differentiate your brand. Try to include an item your competitor doesn't offer but that customers value.
It's relatively easy to put together bundles, but once they're sold, there's a whole slew of logistics to consider for fulfillment purposes.
You can reduce shipping costs through bundling and kitting but including all the items in a single package.
You may also be able to take advantage of volume discounts as your overall sales increase. Passing these savings on to your clients wins goodwill and loyalty and helps you get an edge over your competitors.
Our platform lets you handle bundling and kitting seamlessly so that you can concentrate on selling them instead of packaging them.
SkuNexus has built-in functionality for pairing products into bundles. However, the true power you get with the SkuNexus platform is its ability to customize and manage your kits and bundles.
By putting the power in your hands, we empower you to swap in the products you need to move on the fly.
We hope that you have a better understanding of the value of bundling products to maximize your customer and product exposure and increase your revenue. Let us help you implement an efficient only system that takes care of your bundling and kitting needs. Serve your customers better and help them handle large orders for their own clients or act as a hero to save them money with bundling discounts.
Customers benefit from bundling and kitting because they save on order prices and shipping, but there's a lot that has to go right on the backend to make the process flow smoothly. In order to make sure you're e-commerce shop is ready to offer bundles, you need an inventory management system that can handle it, so you can truly reap the benefits to your bottom line.
Schedule a demo of the SkuNexus platform today and get an understanding of how it can help your e-commerce enterprise handle bundling and kitting opportunities.
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