Do you want to earn more revenue for your business? Are you looking to push some of your less frequently purchased items? If so, you need to implement custom bundling in your business plan to do this.
And, at Cannon Hill Logistics, we can make the whole process easier for you. We take care of the bundling right here at our warehouse, saving you time and effort.
What Is Custom Bundling?
Custom bundling, also called product bundling, is the process of creating a curated collection of complementary products to help you capture both casual browsers and eager-to-buy shoppers. Depending on your sales goals, you may decide to undertake custom bundling to either upsell or cross-sell customers.
- Upsells requires persuading a customer to upgrade. This means promoting a better, more expensive version of a product a customer is considering purchasing.
- Cross-sells involves promoting products that are adjacent to other products in a similar group.
Some products are packaged in a way unique to the individual bundle, such as in a gift box or in special wrapping. There are two types of product bundles:
- Pure bundles: These bundles contain items sold exclusively in that bundle. An example of a pure bundle is a hair dryer packaged with all its accompanying attachments. These items aren’t available to purchase individually, only as a set.
- Mixed bundles: On the other hand, these bundles contain items that are also sold separately. For example, a makeup set that includes lipstick, blush, and eyeshadow that are also available for purchase individuality.
Advantages of Custom Bundling
There are a variety of advantages to adding product bundling to your offerings, such as:
Increased Sales
Custom bundling allows you to increase overall sales by offering enticing bundles to customers, especially those looking for gifts. Additionally, product bundles can help increase your average order values by encouraging customers to buy more items than they may have initially intended to purchase.
Pricing Opacity
Bundling can provide discounts and also provide upselling opportunities. In addition, it blurs the focus around the price of each individual item. This can help reduce friction in the shopping experience by reducing customer effort and decreasing the pressure around whether an item is “necessary.”
Decrease Surplus Inventory
Unfortunately, some products don’t want to sell on their own. Grouping them in with more desirable items can help you move that surplus inventory, making room for other items.
Increase Product Awareness
Customers are more likely to try a new product if they received it “free” or in conjunction with a product they already planned to purchase. This increases awareness of your products and also builds customer loyalty.
Why Choose Custom Bundling Services?
Custom bundling is a great strategy for your business. But it doesn’t come without a significant commitment of time and manpower.
Creating all the bundles, regardless of whether or not they receive special packaging, maybe more than you’re equipped to handle. That’s where Cannon Hill Logistics comes in.
We offer flexible warehousing and logistics services, allowing you to utilize our staff, space, and time to reap the benefits for your business. Whether you need one type of custom bundle created or 100, we can help you reach your business goals.
Our facility is conveniently located near the Port of Baltimore and a short distance from Baltimore-Washington International Airport. This gives us easy access to supply chains and economical ground shipping. Call today to discuss your needs!