Product bundling

POS SOFTWARE

Product bundling is probably the most successful and common marketing tool in business today. Ours is one of the few retail packages that does it really well, I have noticed. So please follow the logic and the solution below.

You go to buy a TV cable plan. It will have a set of channels and access to some loyalty club all with one price. Another example would be if you go a restaurant and get a special price if you buy a full meal. In both cases, if you add the items up and you will find it cheaper to take the bundle.

From the business point of view, the fact is that you were unlikely to pay for six (6) news channels. Once they sell you on one, the rest is a bonus. Few would buy a full meal at a restaurant, so they package a few of the high margin items selling at a low price and give you a bit of a discount, so you buy more. Both are classic examples of product bundling.

Where it often works well in retail, is to take an item that is a hot seller, add an item that is not selling well, so you intend to discount it to get rid of it,  then put the two items together and make a bundle at a special price. What you often find is that you can sell more as a result of the hot sellers and get a better price for the lousy seller together then you could obtain individually.  

Try it out. I think you will find its a lot better an idea then discounting.

You will find it one of the most effective ways to generate traffic in your shop and generate sales.

Here is where you do it. In this example, one ordinary father's Day card was used to sell four good sellers in one bundle.

If it works, try experimenting with different combinations. 

PS Try and link the bundles to seasonal holidays and charities, once you get going you will find your imagination only limits you.

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