Creating Amazon product bundles that sell
In the last few posts in this series, we’ve been discussing what Wholesale Bundles are and why you should consider adding them to your Amazon FBA business model. Today, we want to help you understand what drives the sales of bundles and how to create bundles that actually sell.
It's all about perceived value. Actual value and perceived value are significantly different. In her article in the Journal of Marketing , Professor Valarie A. Zeithaml explains customer perceived value this way “perceived value is the consumer’s overall assessment of the utility of a product based on what is received and what is given”. In other words, value is defined by the quality someone receives for the price they pay.
Have you ever participated in any of these types of sales?
“Buy more and save”
“Buy one get one half price”
“Buy this and receive these free bonuses”
If so, you were a participant in a perceived value marketing campaign.
Here is an example. In the hair care aisle shampoo and conditioner priced at $4.99 each. Right next to these same products there is a bundle pack of shampoo and conditioner in a smaller size priced at $9.99. Though the sizes are smaller in the bundle pack, the perceived value of the items together make it seem like a better value even though the customer is actually getting less product for their money.
Amazon customers are no different. They too want the biggest bang for their buck. When they see products they are already interested in a convenience pack they often make an assumption that it is saving them money even if the prices are the same. It increases customer confidence and perceived value when they feel they are getting more for less. With Amazon product bundles it is the same concept.
When you provide three or four highly complementary products into one single set or value pack (bundle) you automatically increase the perceived value of the product even if the individual prices are exactly the same. The added perceived value is that you are saving the customer time in choosing and buying products. When customers are happy and confident they buy more.
Now that you fully understand how bundling creates an increased perceived value its time to learn how to create bundles that sell. For bundles to sell they need to have a high perceived value for the customer.
Instead of selling a single unit item like a Guitar, you can add value by creating a bundle.
When you sell a Guitar plus picks, a carry case, extra strings and cleaning cloth your customer immediately has increased perceived value because you’ve added extra items to the package. This also reduces the number of transactions you and your customer are conducting and in turn saving you both time and money. Even if the price is the same or more, customers value their time as much as their money.
So how do you begin to create bundles that sell?
Here is your next step.
Find your top-selling product and ask these questions about it:
Once you’ve got this information nailed down you’ll be on your way to creating your first Amazon Bundle to sell.
Whether you’re a new seller or an experienced seller looking to add some diversity to your business, we are passionate about helping other sellers grow and are ready to share our complete wholesale bundle strategies with you. Access our exclusive Wholesale Bundle System HERE.
Other posts in this series: