Bundle Discount is a selling strategy where you combine different products and offer them at a discount price. Some typical examples of bundles are McDonald’s meals, a combination of fries, a coke, a hamburger; or Microsoft Office’s packages.
How to increase your average order value?
Below are some bundling tips you can learn to increase the average order value of your dropshipping business.
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1. Tip #1 Choose related products
People need advice on what to purchase most of the time, so you need to think about related items that complement each other, and what kind of items that could encourage your customers to spend more.
Another popular opinion is to offer accessories that could go with the main product. For example, when you sell an electronic device, offer batteries as well, or a razor with shaving cream, a pillowcase with matching bedspread or sheets.
If you’re struggling with ideas, head over to Amazon and look for products similar to yours and see the “Frequently Bought Together” section for reference.
2. Tip #2 Multiples of the same
Another bundling method is to offer your customers more of the same product. In many cases, selling more can bring more benefits than selling at a higher price. For instance, if you sell 3 items for $2 each, you’ll get $6, which is more than selling only one product for $3. As a result, you can increase the order value while your customer is happy for finding such a good deal.
To apply this method, you need to make a quick list of all the top-selling items on your store. Then create a new bundle that offers more than one but at a discounted price.
3. Tip #3 Knowing how to price
Despite your option to offer a bundle with no discount, do keep in mind that you have to make the deal attractive to buyers. So, it is advisable to give a discount of at least 5% or 10% or even offer a product for free in a bundle. In fact, by doing this, buyers could be convinced to purchase the more expensive main product, which would eventually cover the cheaper one.
