We humans are wired to feel better about getting more for a lesser price. So when we see product bundles, its perceived value instantly increases in our mind.
Product bundling is a strategy where a curated collection of products and/or services is coupled together and sold as one unit. A bundle of products/services offered together at a lower price is a better deal for customers rather than buying products individually.
However, there are many types of product bundling strategies. In this blog, we explore mix and match product bundles and learn how it can benefit eCommerce retail businesses.
Let’s get started!
What are mix and match product bundles?
Mix and match product bundles include a selection of products or services that customers can select from a predefined list. The bundles come at a discounted price. Mix and match bundles are unlike regular bundles — fixed bundles and multipack bundles — that club together the same or complementing products.
Mix and match can have a combination of products that may not be related to each other. Thus, mix and match product bundles have an element of personalization and customization in them. This type of eCommerce product bundling strategy helps brands increase customer spending and meet the needs of a broader customer base.
What are the benefits of mix and match product bundles?
Today’s savvy customers expect brands to meet all their expectations, for instance, they want convenience when shopping, lower prices and discounts, customization and personalization, etc. And guess what, mix and match Shopify bundles, tick many of these factors. Here are the benefits that make mix and match bundles a must-have in your Shopify strategy.
1. Higher average order value
Mix and match bundles increase the average order value (AOV) as customers end up buying more products in one go rather than buying single products. Brands can offer enticing discounts on bundles to encourage customers to buy more.
Including strategies that increase the AOV is essential as it can improve your profitability. AOV is an important KPI for eCommerce businesses. Hence, by encouraging customers to buy more and spend more via mix and match bundles, you can increase your revenue and profitability.
2. Reach a broader customer base
Mix and match bundles include a wide range of products, services, and product categories, thus, improving customer reach. You can cater to a wider customer base with mix and match bundles. Unlike fixed bundles where customers cannot choose their own products, mixed bundles offer more flexibility, making it easy for a broader customer base to shop these bundles.
3. Flexibility for customers
Not all types of eCommerce product bundle strategies offer flexibility to customers, but mix and match bundles do. Customers are not bound to buy pre-fixed bundles. They can choose the products they want in their bundles giving them more flexibility. This sort of flexibility brings convenience and better value for money. Hence, customers prefer mix and match more than other types of bundles.
4. Improved product discovery
In mix and match bundles, products are interchangeable. This improves the opportunities for customers to try new products. Moreover, eCommerce brands can create bundles with a mix of old and newly-introduced products so that customers become aware of the new products.
Moreover, in mix and match product bundles, customers can include products from different categories. For example, clothing, footwear, sport, and makeup in one bundle, thus, helping brands drive more visibility for their products.
5. Increases engagement
When customers get to choose products they want to add to their mix and match bundles, it increases the level of their participation and engagement in shopping. Customers can curate their bundles based on their preference, likes, and needs. This makes them spend more time on your site browsing and discovering products, thus increasing engagement.
How to create mix and match product bundles (step by step)
Creating mix and match Shopify bundles may seem easy, but there are a few factors you must consider to make it a success. Follow these steps to ensure you are on the right track with your eCommerce product bundling strategy.
1. Identify the products
When creating bundles, think strategically. Your first step is to identify products. Let’s explore a few different ways to put together products for your mix and match bundles for Shopify.
- Choose products from complementing as well as different categories
- Choose fast-selling products as well as those that have low preference
- Add a mix of products of different prices — some high-value and some cheaper
- Introduce newly launched products with fast-selling and popular products
2. Decide the number of products
Next, you must decide the number of products you want to allow in one bundle. For instance, 5 or 8 or 10 or more. Here are some factors you could consider for deciding the number of products in one bundle:
- Your target audience and their preference
- Past purchase data to understand average number of products
- Think of a manageable number in terms of discount, packaging and delivery
- The variety of your products and categories. More products would be more suitable if the variety is more
3. Set product quantity limits
You don’t want your customers to stock up on products because they are on discounts. Hence, it is critical to set a limit on the number of products a customer can add to their bundle. For example, a customer might choose to buy a large quantity of a high-value product at a discounted price. However, this could mean low revenue and profits for your business. Moreover, if you allow unlimited quantities, you could end up with stockouts and customers buying in bulk and selling at a higher price.
4. Set up ‘required’ products
Another important strategy is to set up at least one ‘required’ or ‘mandatory’ product in the bundle. Setting up a required product means customers have to compulsorily choose that product in their bundle and the other products could be of customers’ choice. This could be a high-value product, ensuring the AOV remains high. This allows you to enable customers to enjoy the benefits of customization at the same time ensure your profitability.
Your mandatory product could also be a fast-selling, popular product. This way you can ensure more sales. Additionally, you can also ensure there is enough stock of the required product at all times.
5. Determine your mix and match product bundle pricing
When you create a mix and match product bundle, you must ensure that the total pricing is lesser than purchasing products individually. At the same time, you have to ensure profitability. Hence, determining the pricing after thorough calculations, permutations and combinations.
Work out different discount strategies, such as:
- Fixed amount discount
- Percentage discount
- Variable discount based on final bundle price, etc.
6. Determine the number of bundles
You could offer as many different Shopify bundles you like in your store. However, you must keep some factors in mind. When you’re deciding the number of bundles, you must ensure that each bundle is different from the other. Here are some factors to consider:
- Manageability – ensure you are able to manage the number of bundles
- Ensure your Shopify mix and match bundle tool is able to manage the number of bundles
- Decide the number of bundles based on factors such as theme, product category-based, seasonal, etc.
- Your customer segments and preferences
Explore Appstle Subscriptions App to create Shopify bundles for your eCommerce business.
7. Name your bundle
Next, make your bundle shopping enjoyable and engaging for customers by giving unique names to each bundle. Naming bundles will also make it easy for customers to look for the bundles they prefer to buy. You name the bundles based on the value, the products, categories, or give them other unique and attractive names.
8. Start marketing your bundle
Once you’re ready with all the basics of your eCommerce product bundling strategy, you must begin marketing it. Because no matter how good your mix and match bundles are, if customers don’t know about them, they will not be able to buy them.
Here are a few factors to consider:
- Your marketing strategy must cater to your audience demography
- Create a strategy for various online channels such as website, email, social media, third-party websites, influencer marketing, etc.
- Highlight the key factors in your marketing content, such as discounts, value add to customers, among other attractive features
9. Optimize your mix and match product bundles
Just like any other marketing strategy, you must ensure you consistently monitor, track and optimize your mix and match product bundle strategy. Customers’ preferences and market trends are continuously changing and so, you have to keep up with them.
Here are a few things you could do:
- Collect data to understand the performance
- Use a Shopify bundling app that help you collect data and insights
- Collect customer feedback and review
- Engage in social listening and other activities to understand customer sentiment
Mix and match product bundles examples
If you’re looking to start a mix and match bundle strategy for your Shopify store, here are a few examples for your inspiration.
1. Boxy Charm
Boxy Charm is a beauty mix and match bundle that offers a mix of products such as cosmetics, wellness, makeup, and grooming. Customers get five products with three items that they can choose. It’s a great example for inspiration for your mix and match bundles for Shopify.
2. FabFitFun
FabFitFun is another mix and match bundle example that allows customers to choose up to four products out of the six. The best part of this bundle is the wide range of fitness, wellness, and home brands that customers can choose from.
3. Huppy
The dental care brand, Huppy, offers bundles of toothpaste tablets. Customers can choose from a variety of bundles of four, eight, or 16 packets.
Ready to start your mix and match product bundles for Shopify?
We’ve made it super easy for you to get started with your mix and match bundle strategy. You know the benefits are too good to not incorporate this strategy into your business. Besides, we’ve even told you how to get started with nine easy and actionable steps.
Now, all you need is an intuitive tool to help you with setting up and managing your mix and match bundles. Meet Appstle Subscriptions to launch and manage your bundles.
