Product bundling or group sell is probably the second most common marketing system in retail today. The wikipedia has an article on it here.
You can find it in our software in stock pricing under group sell.
What you are doing is grouping certain stock items together, to sell them as a group. Here are some typical scenarios, which can show you the power of this concept.
1) Make a group with a slow-moving item that few want, add it to a fast-moving item and try to sell them together. Often people wanting that fast item, will grab the pack for a little more.
2) Put several slow moving items together at a reduced price and hope that someone wants them.
3) Put many of the same items together and make a bundle for people that want large quantities.
4) Putting several items together to up sell e.g. most people in a coffee shop only want a coffee, make a special item a cake and a small coffee and people tend to order it, so giving the coffee shop owner overall a better sale.
5) Create a pack for people that makes a solution for people so making it easy for them to buy e.g. a set of paint brushes, canvas, etc. for people thinking of doing some painting. This works great with kids.
I do suggest that you look through the options available in our software as you will find there is much you can do with it. Of course as with all business strategies, you will need to experiment in your particular shop.
Over the years with my clients, group selling has proven to being the most successful method of getting rid of unwanted stock without excessive discounting.