Selling items in the print on demand space can be a highly rewarding experience but without the right strategies, the profit margins can be small. Creating product bundles is a great way to boost your margins.
Bundling is an effective marketing strategy that has been used for decades in many industries to boost sales, increase revenue and build customer loyalty. The print on demand space is no exception. Bundling products increases sales and gives the customer better value for their dollar.
What is product bundling?
Product bundling is when a seller creates a package or “bundle” of products that go well together. For example, a seller could combine a baby bib, onesie and blanket into one order and market it as the “baby shower package.” Sellers frequently offer discounts or benefits for customers who purchase bundles of products.
Pros of Bundling
- Increased Sales and Revenue
By offering customers a bundle of products that complement each other, businesses can increase the perceived value of their products and incentivize customers to buy more at once. This can also help businesses differentiate themselves from competitors to better stand out in the market.
- More Convenient Shopping Experience
Bundling can make the shopping experience more convenient for customers. Instead of searching for individual products, customers can purchase a bundle that contains everything they need in one package. For example, if you are selling t-shirts, bundling them with matching hats or accessories can be a convenient option for customers.
- Increased Perceived Value
Bundling products can increase the perceived value of the products being sold, leading to increased revenue. This is particularly true when bundling complementary products that are commonly used together, such as a mug and a coaster, or a phone case and a screen protector.
- Customization and Personalization
Bundling products can offer a unique opportunity for customization and personalization. By bundling products together that can be personalized, customers can create a one-of-a-kind product that suits their specific needs and preferences. This can make the product more valuable to the customer.
Cons of Bundling
- Complex Pricing Strategies
Bundling can make pricing strategies more complex. Businesses need to consider the cost of each product as well as the cost of bundling them together. This can make it more difficult to determine the optimal price point for a bundle.
A good rule of thumb for determining product bundle pricing is to combine the price of all products and remove a percentage to create an incentivizing discount for the customer. Shopify recommends creating a discount of 5-10% for product bundles.
- Increased Complexity in Fulfillment
Bundling products can also lead to increased complexity in fulfillment. Fulfillment centers and shipping providers may not have the necessary processes in place to bundle products together, which can result in longer fulfillment times and increased shipping costs. This can also result in potential errors or mistakes in fulfillment.
In the print on demand space this could also mean that the business has used multiple products from different fulfillment centers which would lead to the items in the bundle arriving in separate packages and at different times.
Sellers can overcome this challenge by being open with the customer about potential shipping delays and only creating product bundles with products from the same manufacturer whenever possible.
- Limited Flexibility for Customers
Bundling products can limit flexibility for customers who may only want to purchase a specific product or have already purchased one of the bundled products. This can make it challenging to sell bundled products to certain customers, leading to lost sales and revenue.
Sellers can avoid this issue by offering products both in the bundle and separate. This way customers can choose what best fits their needs.
Bundling with Quadra
Quadra just had a large launch of 50+ products on the Quadra Marketplace app and many of the products can be used for bundles!
Here are some bundles you could sell in your store today!
- Car mats
- Car ornament
Spring has arrived and it is the perfect time to start preparing for your summer road trips. Bundle together the brand-new car mats on the Quadra app. We have a set of car mats for the front and rear of any standard vehicle. Add a matching car ornament to the bundle to sweeten the deal.
- Baby bib
- Baby blanket
Baby showers are a perfect occasion for bundling products. Bundles make it easier for guests to choose the perfect gift for the new parents without having to spend lots of time shopping. These customizable print on demand baby products are sure to catch your customer’s attention! Imagine the baby’s name and a custom pattern on a baby bib or blanket.
- Pet mat
- Pet collar
- Pet bandana
There is nothing a bet owner loves more than spoiling their furry friends. Bundling a customized pet mat with a pet collar and bandana is the perfect way to attract any pet owner.