According to research, Shopify bundle product accounts for 10%–30% of online revenue. Doesn’t this prove to be a great option to increase sales and, precisely, the average order value (AOV)? While attracting new customers to your store is difficult, expensive, and often time-consuming, with bundle Shopify it is easier than ever, especially with the help of intelligent tools today.
To better understand this form, let’s start the article now!
Contents
What Is the Shopify Bundle Product
Shopify Bundle Product vs. Upsells vs. Cross-sells
Shopify bundle product is an upselling strategy that allows many individual products to be sold as a single combined box or product via an online store.
Bundle Shopify is most effective when each product in the bundle sells for less than the price the client expected to pay. The gap between the predicted and actual costs is the consumer surplus.
Moreover, Shopify bundle products are sometimes packed together as upsell or cross-sell to increase sales efficiency.
- Upsells entail encouraging the buyer to purchase a more expensive product, such as pushing a better, more expensive version of a beauty brush that a customer is considering purchasing.
- While cross-selling promotes related products that are next to other products in the same category. For instance, it pushes blush to be used with a cosmetic brush. This term refers to the concept of cross-merchandising in the world of physical retail.
At the same time, retailers may also package the bundle in a more unique way, such as in a gift box or distinctive wrapping.
Bundle Shopify is especially popular around the holidays, but it’s a strategy that businesses can utilize all year.
Should You Sell Bundle Products?
Shopify bundle product offers numerous advantages to both the retailer and the consumer. Let’s look at some of why it’s become such a popular retail strategy.
First, you can increase sales by selling a combination of items that offer clients a better value. Besides, customers gain from the higher value of bundled products, while the merchant raises the Shopify store’s average order value (AOV) and overall revenue.
According to a Harvard study, Nintendo combined video games and consoles, resulting in 100,000 units sold and over a million dollars in video game sales. Proof that it helps increase the perceived value of your product in the eyes of your customers.
Second, bundle products can also be an effective method for reducing excess inventory. Bundling slow-moving inventory with popular items can aid in moving stagnant commodities.
Third, this strategy increases product awareness, allowing people to sample a product they might not have purchased separately. LoveSeen, a vendor of artificial lashes, is one example of this. It sells a starting kit package that includes lashes and lashes adhesive and lashes tweezers.
Finally, Shopify bundle products help your store to enhance the shopping experience. Indeed, creating an opaquely priced package also assures that each consumer receives the most advanced product experience you can provide.
Types Of Shopify Bundles
Shopify bundle product is available in a variety of forms and versions. To make it easy for you to grasp, we have divided it into two basic categories: bundle based on product and price. The following are some examples of the most common types of Shopify product bundles:
Based On Product
Group Bundles
Similar to Amazon’s recommended products, a group bundle comprises items regularly purchased together (for example, a t-shirt and jeans). This package is typically based on historical sales data and can be made manually or automatically through product bundling.
Variant Based Bundles
The variant-based bundle is a product combination based on a standard product variety (i.e., recommend a silver ring next to silver earrings). These bundles are based on a feature or substance shared by numerous items.
Pack Bundles
Pack bundling is the practice of selling a predetermined mix of items as a pack. It is usually an efficient strategy when selling things on a large scale (i.e., buy six bubble gum packs and get 20 percent off).
It is also considered mixed bundles that include things that are also available independently. Lip kits from Kylie Cosmetics are an excellent example. These kits include a lip liner and lipstick purchased separately but are packed together for convenience (and since they complement goods).
Mix & Match Bundles
This type of Shopify bundle product allows your consumers to mix and combine their items. It’s usually an excellent idea when you want to learn about your clients’ tastes or when there are seasonal specials. (For example, choose any three t-shirts from the collection.)
Combo Product Bundling
A collection of individual products is presented to the client as a single product. Typically used on dedicated product pages if it makes sense to sell multiple products as a single unit. (For example, purchase a grooming set that includes a razor, tweezers, and nail clippers.)
You can also offer pure bundles, which comprise only things sold in that bundle Shopify. For example, the Dyson AirWrap comes with removable blow-dry heads only available when you buy the package.
Buy One/Get One (BOGO)
This Shopify bundle product gives a discounted or free item in exchange for purchasing another product or set of products. For example, buy a home audio system and receive complimentary headphones.
For product bundling, buy-one-get-one (BOGO) deals are a client favorite. BOGO is the preferred type of deal for 66% of consumers, and 93% have purchased a BOGO offer at least once.
Based On Price
Product bundles are sometimes supplied at a discount or added value, whereas pricing packages are sometimes curated. Specifically, merchants may select a few specific things to be purchased together to receive the discount. The Shopify bundle product may be offered a broad deal for purchasing many items. By delivering a bundle discount on the overall price, such as a free item, the consumer feels they received a fantastic deal, even if they likely spent more than they intended to.
Percentage Discount
Discounts are an effective way to motivate clients to buy in bulk and raise the FOMO. Many merchants use discounts to make the bundle offering more tempting to customers, making it more difficult for them to reject the deal, especially if the margin remains substantial.
Therefore, as the name implies, a percentage discount is provided to clients who add the bundle to their shopping basket. It is suitable for practically any form of a bundle. For example, if you buy three T-shirts, you will receive a 10% discount.
Fixed Value
The fix value technique involves providing a predetermined discount to clients who add multiple things to their cart—typically used in conjunction with Pack bundles. Select any two bottles of wine for $50 rather than $60.
Soxy.com, a sock retailer, increased its AOV by 358 percent by bundling, even though many of its bundles are substantially more expensive than buying the same number of socks separately.
Buy X get Y
Last but not least, buy X, get Y provides customers with a free product in exchange for purchasing another product or spending a particular amount of money in-store. For example, if you buy a laptop, you can get a laptop bag for free.
The fact is that the grouping of things diverts the buyer’s attention away from the pricing of individual items. Therefore, eCommerce businesses all need to approach bundles to reach customers best.
Unfortunately, many store owners do not know how to sell Shopify bundle products and optimize the process to save time and effort. Manually managing bundles is not easy, especially with an extensive catalog size.
B2B Portal/ Net Terms, for instance, help you easily create bundle Shopify from products and variants. Besides, the app does not create redundant items or variants in your store; instead, it allows the administrator to link several products to a single product.
Furthermore, B2B Portal/ Net Terms checks and syncs the inventory in a bundle after each sale. When a consumer orders the bundle, it automatically syncs the inventory levels of the bundle as well as the bundled products sold in real time. So you always know your inventory situation quickly.
3 Ways To Selling Shopify Bundle Products More Fluently
Prominently Display The Discount Information
If your bundle Shopify is intended to provide a discount or value-add, make sure that information is prominently displayed on your product page and in your marketing efforts. Making the deal a prominent package component reminds customers that they are getting a fantastic bargain.
ThirdLove, for example, prominently displays its build-your-own-bundle promotion on practically every page of its website and emphasizes cost savings. They always show their bundles on their homepage as well as product pages to make sure customers see them
Use Your Bundles For Gift Guides
Another smart strategy is to promote Shopify bundle products as quick gift possibilities during holidays. Many businesses will construct a gift guide landing page for you, which you can then advertise via email, social media, and in-app. Here’s an example of an underwear business, ThirdLove, promoting its loyalty bundles program:
Ideally, retailers can highlight gift package displays near their registers with shoppable displays, allowing customers to get everything they need in one click.
Offer Your Bundles At Checkout
Offering a bundle at checkout can encourage a buyer to purchase numerous items. To put it simply, in a physical store, that would look like the sales associate telling the consumer that if they add one more thing to their purchase, they get 15% off everything. It can be displayed as messaging throughout the checkout process online.
Moreover, if your goal is to enhance AOV by encouraging clients to buy more products, you may provide a discount on the group of products.
The emphasis in this example is on the discount, which must be automatically applied at checkout. However, if you create value using Shopify admin, there will always be a limit. Specifically, you can only apply the discount to particular products, products within a collection, or the entire order.
As a result, you will need BSS: B2B Portal/Net Terms to create completely customizable bundles. Mainly, you create a product page hijacked by the app, offering the user various products to choose from.
Plus, your customer can easily add numerous things to their cart or checkout directly from the Quick Order page with this app.
Shopify Product Bundle Examples And Tactics To Try
Now, let’s look at some practical product bundling strategies that you can put to use right immediately.
Your goals and products will determine the way you put up a bundle, but keep in mind that Shopify bundle product strategies appear to be limited only by a retailer’s inventiveness.
Gifting product bundles
One way to address customer expectations during the holidays is to take a gift-giving strategy to bundle Shopify, making it easy for buyers to identify and purchase a done-for-you gift.
A brand of pure beauty, Lush, has a similar strategy. Its website’s gift section offers a variety of goods bundles in a variety of price levels. It also merchandises the items for in-store displays, and its knowledgeable staff may make intelligent suggestions to assist customers in quickly entering and exiting the store.
Subscription boxes
The subscription boxes are probably the most popular form of the Shopify bundle product as not only online stores but many brick-and-mortar stores have launched their subscription box service. By bundling things, you can remove some guessings from the purchasing experience and give more value.
Lalo, a baby brand, has seen this work effectively. Roughly 92% of its sales are now bundles. The reason is that bundles reduce the burden of choice and make internet purchasing less intimidating.
Build your bundles
Some merchants have experimented with a do-it-yourself approach to product bundling, allowing customers to assemble their own set of goods. This may appear to be paradoxical to the idea of increasing product awareness. However, you can still stimulate product discovery by allowing customers to select from a limited collection of products, limiting their options to the items you wish to promote.
HVMN, a nutrition and supplement company, discovered that offering “mix and match” bundles (allowing customers to choose their flavors of MCT oil powder or Keto Collagen+ and create their product bundle) increases the average order value to $108.
In addition, M.M. LaFleur, a women’s fashion business, offers a build-your-own curated capsule wardrobe collection updated regularly. When consumers buy two or more pieces from the capsule collection, they receive a 15% discount.
The brand witnessed a 20% boost in AOV for orders that included product bundles such as assets, capsules, or bundles compared to those that did not (excluding sale-only charges). It also experienced a 27% rise in products per transaction with transactions that included sets, capsules, or bundles.
Conclusion
When it comes to improving the average order value (AOV), the Shopify bundle product is a great strategy. Currently, product bundling is quickly becoming the new upsell standard in eCommerce, since it benefits both buyers and merchants. Customers benefit from a more comprehensive shopping experience and reduced prices, while merchants sell more products and raise their revenue.
With a smart app like BSS: B2B Portal/Net Terms, it’s easier than ever to start bundling, even for non-tech-savvy merchants who are just getting started with their Shopify eCommerce store. Finally, ensure you’re giving your clients the most outstanding possible experience while growing your business metrics with bundle Shopify.
