1. Finding the right price for Bundles
You could be missing out on a lot of sales by offering your product at a price that’s too high or too low.
When deciding on how much to charge for your Bundle, consider the following factors:
- What are your competitors charging for similar Bundles?
- How much would customers pay for each individual item?
- What’s the average amount shoppers are willing to spend on the Bundle as a whole?
- What value does the Bundle offer customers?
By figuring out what people are willing to pay for each individual item that makes up your proposed Bundle, you can find your pricing sweet spot for maximum conversions.
2. Harness the power of automated AI Bundles
With the power of AI, manual bundling is a thing of the past.
Automated Bundles not only save retailers time, but can supercharge conversions by taking into account a shopper's context when recommending Product Bundles.
This is a powerful strategy, as offering irrelevant products (or even too many) can hurt your conversion rate and reduce sales.
Using ‘wisdom of the crowd’ tech, AI dynamically groups complementary products together for each customer based on their shopping context, creating a smooth and intuitive experiences for customers.
AI predictions have such high confidence levels that, for example, retailers using Particular Audience's AI Powered 1-Click Bundles see a 30% to 60% increase in units per transaction.
By providing Bundles that are personalized to a shopper’s context, you can offer a more intuitive shopping experience.
3. Offer Bundles at Checkout
Identifying the right moment to offer a Bundle is crucial to the success of your strategy.
Although you could offer Bundles on product pages, these pages can be busy and distracting. Placing Bundles at checkout is an effective way to boost sales, as customers are more likely to complete their purchase if they see value in it.