When buying items online often under the item you’ve chosen there will be some recommended other items, usually at a discount if all purchased together.
These groups of items with discounts are called ‘bundles’. Bundles are a great way of upselling your products by grouping them together to entice your customers to buy more than they had originally planned. This article is going to explain what bundles are, as well as how they can help your business prosper and increase revenue. A more in-depth tutorial can be found here when you decide that bundles would be a good way forward for your business.
What are bundles?
Simply put, bundles are items grouped together by some common denominator (e.g by season, complete outfits, or frequently bought together). These bundles will then have some kind of discount to persuade customers into buying more than they had initially planned, meaning that despite the discount, your business is still making more money from the sale.
There are many different variations of bundles you can create, as well as different types of discounts on them based on what you think will be more successful.
For example, you could offer a bundle of 3 complimentary items with a 15% discount if the customer buys all the bundled items. Or, a bundle where if you buy a bedsheet, also buying pillowcases and a mattress cover will get you $10 off.
Customers are easily persuaded when there are discounts to be had. You may fear that if too many people take advantage of these bundles you would actually be losing money, but this isn’t the case. In the end, these bundles are causing you to sell more products than you would have otherwise, even if they are discounted in some way.
Why are bundles good for business?
Bundles are good for your business as most simply you are selling more products with them. Even a discounted sale is still a sale; while the profit margin may be smaller it’s still making you money.
Customers also like a good sale, so if they perceive that they can ‘save money’ on something, they are likely to take advantage of it, even if they wouldn’t have bought the product if it wasn’t on sale.
When items are in a bundle it creates a ‘might as well’ mindstate, where customers are more likely to purchase because you’ve put the option in front of them and have lowered the number of choices needed for them to buy the product.
What types of discount types are there?
There are various different discount types that you can apply to bundles, here are the three main types you can use with Zoorix:
E.g. Again, two items for $30 and one item for $20 in the bundle, and the discount is 25%. When added to the cart the following calculation would be made - (30+30+20) x 0.25 = 80 x 0.25 = $20. So the final discount would be $20, making the final price $60 at checkout.
Quantitative
This discount type is used based on how many items someone is buying. For example, if the quantitative discount is 25% per two items and 50% per three items.
E.g. A bundle has three products, and they are worth $10, $20, and $30 respectively. If the customer only chose the 10$ and the 30$ products, the calculation is (10+30) x 0.25 = 40 x 0.25 = $10 discount. So the customer will pay $30.
However, if the customer bought all three products the calculation would be (10+20+30) x 0.5 = 60 x 0.5 = $30 discount. So the final price would be $30.
How to create bundles with Zoorix
On Zoorix you are able to quickly and easily create various different types of bundles based on whats best for your store. They have an interactable system where you are able to add what you would like to include in your bundle, what discount you want to apply, and everything will be calculated when it’s added to your customers' cart.
Here is a step by step plan of how to create your own bundle using Zoorix:
- Decide what items you want to include in your bundle - you are able to have up to 8 different items.
- Choose what kind of discount you want to have. E.g, $5 dollars off, 10% reduced when buying the whole bundle.
- Add an enticing title for your bundle to get people to click.
- Decide where you want your bundle to be advertised on your site. It could pop up under each of the bundle items, or have a dedicated page for the different bundles you offer.
- And finally, save.
It’s really as simple as that!
After you’ve created your basic bundle, you are able to make additional choices such as whether the bundle has a pop-up when chosen, whether you’re navigated to the shopping cart, and many other choices to make sure you are getting the most personalized experience possible.
Conclusion
Bundles are an easy way of upselling some of your products to customers. Customers are enticed by a sale, and bundles are an easy way of persuading them to get a little something extra at checkout.
Zoorix is a great tool for making your bundles, and its accessible interface means that you don’t need to have an in-depth knowledge of coding to create your own.
All of the calculations are done by the Zoorix app, so all you need to worry about are what to include, what discount, and what to name the bundle. Get started today.
