6 ways you can make more money with product bundles on Shopify
If you’re looking for an efficient way to boost revenue and solve customer problems, have you ever considered product bundling?
Let’s face it: probably. But after seeing how much manual work fulfillment takes, you decided against it.
With Edit Order, it’s time to reconsider. Bundle automation, now available for Shopify Plus merchants, ensures that you can set up a single workflow that will instantly expand bundles for you, helping you fulfill orders quickly and with less hassle.
Now that the spotlight (and stress) is gone from fulfillment, you’ve got time to focus on determining the bundling strategy that's right for your business. This article covers six different ways you can use product bundles to make more money on your Shopify store now that you can use this Shopify automation:
Value bundles
Subscription boxes
Cross-sell bundles
Accessory/component bundles
Bonus-gift bundles
Holiday bundles
1. Value bundles
The goal
Create value bundles using a perceived discount to sell slow-moving product and excess inventory.
The details
It's inevitable; you'll eventually accumulate slow-selling products and excess inventory. They may seem hard to push, but here's a strategy that will move those hard-to-sell items and create the value your customers crave.
Value bundles offer your customers a perceived discount, which works best when they’re paired with complementary products. If your holiday sale left you with too many iPhone cases, bundle them with a pair of headphones at a discounted price. The main component of the value bundle equation is the price. Value bundles work incredibly well if you know your audience is price-sensitive. If you capture a more luxury market, it could cheapen your products, and you may want to move on to a different bundle strategy.
Take a look at Bite's duo bundle, where you can purchase two of their tablet toothpaste jars for $4 less than buying one.
2. Subscription boxes
The goal
Offer curated subscriptions with different price tiers on frequently-bought products for recurring revenue and customer convenience.
The details
Your customers are shifting their habits to online shopping, and subscription boxes are a popular way to take consumable items to the next level. The feeling of magically replenishing products that get used often can't be beaten. Take Friction-Free Shaving's model of offering diamond-coated razors with customers' choice of colour, razor personalization, and subscription frequency.
You'll want to offer subscription boxes if you sell meal boxes or other physical products that customers often need to replenish. They deliver consistency for both you and your customers, with you enjoying the recurring revenue and your customers getting worry-free product delivery.
You should offer a choice to your customers. Let them choose from different subscription bundles and pricing tiers so you can cater to their individual needs and appeal to more buyers.
3. Cross-sell bundles
The goal
Use a theme to bundle complementary products together and help gain awareness of new products.
The details
Using bundles to cross-sell items is a great way to introduce your customers to different products. When using cross-sell bundles, the goal is more than increasing the average order value; it also drives awareness of a new offering and is a potent addition to any product launch strategy. Cross-sells work best when the products are complementary or themed, and at least one is a high-traffic item that will get eyeballs on your newly-launched product. Like value-bundles, cross-sell bundles work well when there's a discount, and do even better when there is perceived scarcity. Make your bundles only available for a limited time to have customers rushing to add-to-cart.
Take inspiration from Flat Tummy Co.'s fitness mat bundles with a travel bag.
4. Accessory/component bundles
The goal
Sell multiple products together in a kit, or create a customized product from smaller, individual items.
The details
If you sell bikes like Mike's Bikes, your customers might want to make repairs to their rides or even build their own bikes. You could sell all the individual pieces separately, but let's leave it to your customers to break a sweat. Creating an accessory/component bundle is perfect for combining the parts and accessories your customers need and makes the fulfillment process simple.
This bundle combines multiple smaller items into one new product. Individual items can still be purchased independently, and the bundle is sold at a fixed price when the customer buys. These bundles don't reinvent the wheel, but your customers will appreciate not having to buy all their parts individually.
5. Bonus-gift bundles
The goal
Bundle a specific product with a gift or bonus accessory.
The details
This one's pretty self-explanatory, so we won't get into too much detail. Give your customers a complimentary bonus product or accessory when they purchase a specific product, or on a special occasion like their birthday. These work best when you show them for a limited time to promote scarcity.
Box Dog took it a step further and added a bonus gift when you subscribe to one of their pet boxes.
6. Holiday bundles
The goal
Create holiday bundle collections for different audience types during the gifting season like "gifts for her," "gifts for dad," "dog-lover bundle" etc.
The details
The oh-so-jolly holiday season is the perfect opportunity for you to curate beautiful collections and matching products for your customers. Be the holiday hero and give your browsers an easy way to buy their loved-ones (and themselves) thoughtful gifts. Create specific collections based on audience types, like "Gifts for Dad" or based on product types, like "Perfect Tech Gifts" or "Rad Stocking Stuffers."
A foolproof way to create holiday buzz is to add holiday-exclusive products to your store, offer monogrammed or personalized items, and bundle items that are frequently bought together. See how QALO offers special packaging to create their gift bundles with a set of products, plus a special accessory to hold it all together. When making holiday bundles, the cost savings don’t have to be huge, but they should be noticeable. Get your elves to take a look at your catalogue and bundle any products that may be needed in sets. Makeup brushes, earrings, or candles are all great gift options, so make sure you order more inventory.
Bundle up with your bundle assistant
Running a business is a balancing act, but selling and fulfilling bundles doesn’t have to be. Offering bundles empowers your enterprise by differentiating from competitors, clearing out old inventory, and boosting your revenue. Offering bundles with an automation tool to power your backend gives you the upper hand.
If you're ready to thrill your customers with bundles and subscriptions, or are looking to streamline the process, use Edit Order for bundle automation. It's like the assistant you always wanted; reliable, always on time, and need minimal management. You'll be able to automate the sales and fulfillment process, so all you have to do now is choose the bundle strategy that's right for your business.
So what’s your next move?
Get set up with bundle fulfillment automation with this quick video
Check out LitJoy Crate’s subscription box success story using fulfillment automation
See why increasing your AOV can help you boost your profits and how to do it
