Product bundling is a powerful technique for increasing the perceived value of your offer. By grouping complementary products together and offering them at a discounted rate, you encourage customers to buy more than they originally planned. Bundles give the customer the impression that they’re getting more for their money, which increases the likelihood of a sale.
Startups can use product bundles creatively by pairing bestsellers with new arrivals, or low-cost items with higher-ticket products. This strategy not only boosts average order value but also helps move inventory as underlined by accomplished entrepreneurial professionals including Gary Neal Cramer. Make sure the bundles are relevant and offer real value, rather than just creating an offer for the sake of a discount, as this could detract from the customer experience.
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