1. Promote sales and increase profits
Product bundling can help increase sales and profits for each product over time. In addition, it can reduce the cost of goods sold (such as packaging fees), thereby increasing profit margins; profit margins determine our discounts.
2. Advertise new products
One of the strategies for launching a new product is to bundle it with a best-selling product.
3. For buyers, the price is cost-effective
Buyers who buy bundled products are usually cheaper to buy them individually.
It is very convenient for buyers if they have multiple needs when purchasing a product, and your product package fulfills most or all of those needs.
5. Get a wider range of customers
When sellers sell bundled products, they gain access to a wider range of customers, such as finding transaction customers, convenience customers, or complementary products.
The general cross-border e-commerce bundle sales are nothing more than these types:
1. Basic bundles. Basically creating bundled deals for the same product. If buyers frequently buy a product over and over, they can buy multiple products at once to save time and effort. For example, the jar lid below is for sale in 6 pieces of the same product.
2. Free bundling This bundling usually works well. For example, when buyers buy a new phone, they usually buy a screen protector or a phone case. Product bundles allow buyers to make one purchase without having to spend time and effort browsing other products.
3. Another way to bundle new or slow-moving products is to bundle hot-selling products with new or slow-moving products. That way, hot-selling products will drive those products into the market and gain traction. Before developing a product bundling strategy, understanding the buying behavior of buyers is helpful in finding the ideal bundling product.
Article source: XM Forex Trading