First let’s define this anglicism. The term “bundle” means package or set and product, product.
Basically this expression means: bundle/set of products. Marketing term used in ecommerces. To make it clearer what a bundle product is, it is simply a sales method that suggests users to buy a group of products or services.
What is the usefulness of a bundle product?
Its strength lies in the fact that; this suggestion is based on the individual’s previous searches on the internet, as well as their online shopping behaviour.
For example, if someone has made several searches with the intention of buying a specific Smartphone; the bundle product technique will allow us to offer a package of supplements to the core product such as handsfree, chargers, protective glasses, etc..
It should be noted that the product proposal does not have to be exclusively “complementary” in nature as we saw in the previous example. We can also suggest alternative products, in case they are not in stock or simply our business does not market that specific product or service.
This technique is very useful when our company or business offers goods or services that may be unfamiliar or complex to a consumer.
Usually the bundle product, by offering combinations of products, provides the buyer with more attractive prices than if the purchase were made individually for each of them.
This usually hooks the customer, who prefers in a single operation to acquire a pack of products related to their needs for a cheaper price.
Assign attributes and values to the combinations
Every solid business should be clear about the values and attributes of the products it offers. This will depend on your brand, your mission, and even your infrastructure. Effectively assigning these components to our products helps to consolidate your business plan.
Let’s start by defining concepts:
Attribute: Characteristic of the product (e.g., color)
Value: Variations that the product will have (white, blue, black)
Identifying the attributes and values to your product pack will allow you a higher profitability in your business.
Keep in mind that by offering cheaper prices than the competition for a batch of products than for an individual purchase, you will need to be clear about the allocation process.
If you need help along the way, access our website to discover how our POS allows you to assign attributes and values to your combinations
Benefits for Ecommerces
For ecommerce this technique can be highly beneficial as it attracts shoppers tempted by the discounts usually contained in the product packs.
On the other hand, the consumer will find it very difficult to compare unit prices between online stores; you will save them time between price comparisons and they will always return to the cheapest option.
In addition, for the seller, grouping a set of products together means selling more without high transaction costs.
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