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Businesses must choose the right pricing model for their products to attract customers and grow their profits. The right pricing strategy will help you build trust with prospective customers and convince them to shop with you.
Bundle pricing is one of the popular pricing strategies used by retailers. Through this strategy, brands combine multiple products or services and sell them together at a typically lower price.
Popular price bundling examples include value meals at fast food restaurants and new car purchase packages.
Shoppers love such bundled products because they are usually cheaper than it would be if each product or service was bought separately.
As a business, you can use the best apps for product bundles for WooCommerce and Shopify to sell more products online and increase store profit.
This article takes a deeper look at bundle pricing and shares great bundle pricing examples to help you learn how to use this strategy to generate more sales.
Let’s get started.
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Bundle pricing is a strategy where a retailer combines two or more products and sells them for a lower price than would have been the case if the products were sold individually.
The reduced prices motivate customers to purchase the bundle because they are getting a better deal than if they bought the items separately.
By selling product bundles, retailers can increase their order value per sale and get closer to their revenue goals.
A great price bundling example is an art supplies dealer who sells the following items:
Canvas – $5
Slow-moving brushes – $3
Washable paint – $2
Wooden easels – $3
The dealer then creates a beginner’s bundle with all these products and offers it at a discounted price of $10.00.
Unsurprisingly, the sales for the bundle skyrocket because of the perceived value customers place on the package.
Firstly, the bundle provides beginners with all the items required to start their painting hobby. Secondly, it’s also convenient for beginners as it saves them the time to search for all these items separately.
And if that’s not enough, customers also save $3 when they purchase the bundle.
The seller can also move slow-moving inventory like the paint brushes when they bundle products like this.
While the bundle pricing strategy may initially eat into their profits, businesses can make up for this by selling more bundles and ultimately increasing their revenue in the long term.
Now, let’s discuss some other benefits of bundle pricing.
Helps retailers offload less-popular products
If you’re struggling to sell some of the products you have in stock, you can bundle them together with some of your popular products and offer them to customers at a discount.
Bundling stagnant inventory with popular products is an effective strategy for brands that are struggling to offload certain items.
With this strategy, you can convince customers to try products they may have not considered before, hence driving more sales.
Motivates customers to spend more
Customers love bundled packages because they present opportunities to make significant savings. As such, chances are high that a customer may buy a bundle and not the individual product they had come for at your store.
When done correctly, price bundling can be an effective way to upsell to customers when they visit your ecommerce store.
Simplifies the buying process
Price bundling simplifies the shopping experience for customers by combining complementary products that customers need for a certain activity.
This means that customers can buy the products they need with just a few clicks, thus simplifying the shopping experience and increasing your product sales and profit margins.
Helps attract deal-conscious buyers
A product bundle is essentially a deal that can help you attract deal-conscious buyers. In most cases, the buyer may not be part of your target audience, but they may be motivated to buy because your bundled packages present an attractive deal.
Helps introduce new products
If you have a new product you’re trying to promote, you can include it in a bundled package with one of the popular products in your store.
This move allows you to take advantage of the popular products in your store to highlight other products and get people interested in them.
Check out these resources for more tips on running a successful ecommerce business:
There are several bundle pricing strategies you can use as a business. The strategy that will work for you depends hugely on the type of products you’re selling.
The two common bundle pricing strategies you can consider include:
Pure bundling
In pure bundling, the products or services offered in the bundle cannot be purchased separately. Customers can only purchase the bundle as a whole, and the individual components are not available for sale separately.
Pure bundles are typically used when the components complement each other and are intended to be used together, such as a computer and printer bundle.
Another great bundle pricing example would be the subscription meal kits by Blue Apron. The meal kits are made using fresh ingredients that customers can use to prepare home-based meals based on the menu they have chosen.
The image below shows a subscription kit for the Beef Curry Rice dish. When a customer pays for the kit, they get the ingredients and the instructions to make the meal.
In mixed bundling, customers have the option to purchase the components of the bundle individually or as a whole.
This allows customers to choose the products or services that best meet their needs, and can also help businesses to cater to a wider range of customers with different needs and preferences.
Mixed bundles are often used in industries like telecommunications, where customers can choose to purchase different combinations of services, such as internet, television, and phone service.
They can also be used in the beauty industry where brands can combine different products that complement each other.
The image below shows a mixed bundling package by Billie for its Deluxe Starter Kit which has five products that work in harmony to deliver a smooth shaving experience.
Check out these bundle pricing examples to learn how best to design your packaged deals.
1. Burga
Buy 2 get 2 free
Burga has a Buy 2 get 2 free bundle for its iPhone 14 cases. When customers add 4 phone cases to their cart, they are only asked to pay for 2.
This bundle price strategy gives customers an instant 50% discount when they buy 4 iPhone cases. Without this bundle, customers will have to pay the full price when they buy the iPhone cases separately.
Considering the huge discounts on offer, the bundle is quite popular with customers. The brand has even gone ahead to extend the offer, allowing customers to enjoy a 50% discount when they buy more than 4 iPhone cases.
2. Bath and Body Works
Mix & match full-size: buy 3, get 3 free, or buy 2, get 1 free
Bath and Body Works has various product bundles—Buy 3, Get 3 FREE and a Buy 2, Get 1 FREE offers—on select items in its store.
Shoppers can buy any 3 products from the offer category and get the next three products they add to their cart for free. If they can only afford to buy 2 products from the list, the brand gives them one extra product for free.
This bundle pricing strategy has an attractive model and appeals to the brand’s customers as it allows them to get more products for less. Most customers need several bath products for their body care needs, and this bundle allows them to acquire what they need at a discounted price.
From the seller’s end, the bundle also reduces the chance that a shopper will buy one product from the brand and another product from a different brand.
This is because customers will want to meet the conditions for the bundled offer (Buy 3, Get 3 FREE), and would buy all the products they need from the same brand.
3. Levi’s
2 for $99
Do you love jeans? If so, then you will enjoy Levi’s 2 for $99 bundle pricing offer that gives you 2 pairs of jeans for the price of one.
A single pair of jeans at the store costs $98. This means that the bundle gives customers a 50% discount when they buy jeans from the store.
Considering that one pair of jeans is never enough, this bundle pricing strategy makes it easy for customers to get several units of the products they use regularly.
4. MyShopify
Bundle your fan gearfor 25% off
Jets fans can show their support for the team by wearing branded items like scarves, jerseys, hats, etc.
One retailer has made it easy to do that by bundling the fan gear and selling them for a 25% discount, as you can see in the image below.
Fenty Beauty has an essential hydrating bundle that customers can get for $14 off. The bundle contains complementary products which means that demand for one product encourages the purchase of the other products in the bundle.
Image via Fenty Beauty
The brand displays the cost of the individual products in the package to show customers the potential savings they can make when they buy the bundle.
6. Beekeepers Naturals
Daily Wellness Kit for 15% off
Beekeepers Naturals have an effective bundle pricing strategy where they sell their products in bundles to help users improve their immunity and wellness.
One of their popular health bundles is the Daily Wellness Kit, which has a 10% discount applied at checkout. A further 5% discount is extended to customers if they subscribe to receive the bundle monthly as you can see in the image below.
While price bundling is an effective strategy to attract customers, you need to be careful when building your packages to ensure they meet the needs of your customers. Otherwise, you will be left with a bunch of product bundles that no one needs and buys.
Here are the key considerations you need to use the bundle pricing strategy:
Maintain product profitability. Ensure that the products included in the bundle are still profitable when sold as part of a bundle.
This involves carefully considering the cost of each component, as well as any discounts that may be offered as part of the bundle, to ensure that the bundle is still profitable for the business.
Determine the optimal/right bundle price. This requires you to consider the cost of the individual components and the value that the bundle provides to the customer.
It’s important to strike a balance between pricing the bundle high enough to maintain profitability, while also pricing it low enough to make it attractive to customers.
Manage customer expectations. It’s important to manage customer expectations by clearly communicating the value of the bundle and what it includes.
This can help to avoid customer confusion or dissatisfaction, and can also help to ensure that customers understand the benefits of the bundle and are more likely to make a purchase.
Avoid cannibalization of individual products. This refers to the risk that customers will choose the bundle instead of purchasing the individual products, which can negatively impact the sales of individual products.
To avoid this, it’s important to carefully consider the components of the bundle and to ensure that the bundle is designed in a way that does not cannibalize individual products’ sales.
Wrapping up
Bundle pricing is a great option for ecommerce businesses. Brands can bundle their products to add value to their offerings and encourage customers to buy more products.
Once you’ve got your bundle pricing strategy right, you need to use a mix of marketing tactics to get the maximum sales.
Omnisend is an omnichannel marketing tool that has helped many ecommerce brands achieve their marketing goals, and it can help you too.
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Bernard is the Sr. Director of Communications & Creative at Omnisend, with a passion for good research, helping ecommerce businesses with their marketing automation needs, and beating absolutely everyone in Mario Kart 64.
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