Kitting and Bundling Best Practices for the Health and Beauty Industry
Determining how to best sell your health and beauty products is a great first step toward increasing your sales and improving your overall business practices. Kitting and bundling let your company create interesting product offers that excite customers and benefit your business.
Great deals make shoppers more likely to continue buying from you. When you sell products, you want your customers to feel like they’re getting the most value for their money.
Shoppers also make the best connections with brands that value their interests and provide enticing offers to encourage repeat purchases. Whether customers are shopping for specific items or browsing to try something new, they want to know your company will provide a range of interesting options to choose from.
Kitting and Bundling
Product bundling, or kitting, involves combining several complementary products into one unit, letting customers find all of the products under one listing. While you can still maintain individual listings, kitting and bundling helps sell more products by enticing buyers to purchase items as pairs or sets for lower prices than they would pay for each product individually.
Product bundles also encourage people to buy more than they initially planned. When shoppers see a deal that will save them money in the long run, they often spend more upfront than they would if they purchased the items one at a time.
Kitting and Bundling Best Practices for Health and Beauty Industries
Proper planning is essential for selling personal care and beauty products through kitting and bundling. As you market your existing products in a new light, you’ll need strategies specifically tailored toward creating appealing product bundles.
Some best practices for advertising and selling bundled items include:
- Bundling like items: Take stock of all the products you sell and see which make sense to group together. Bundling products people would logically purchase or use together can entice people to buy more of those items to get a great deal. For instance, you might bundle shampoo and conditioner together or create a kit with assorted makeup products of the same brand.
- Bundling products you want to sell more of: If you’re looking to sell more of a particular product, bundling it with best-sellers can be an effective way to put it on shoppers’ radars and convince them to buy it. When using this strategy, make sure you maintain a high perceived value for all products in the bundle. Customers may be more inspired to try out a low-selling product when they can get it with a product they know and love for a relatively low combined price.
- Creating subscription boxes: Health and beauty subscription boxes are rising in popularity as more shoppers show an interest in curated selections of items to try. When people buy subscription boxes, they pay in advance for different product bundles to arrive at their doors each month. Subscriptions are ideal for getting shoppers excited about your brand, encouraging them to commit to receiving premium bundles regularly.
- Increasing visibility: Display product sets where shoppers can see them, whether that’s front-and-center in stores or at the top of your website’s home or product pages. You can even create special sections for product bundles where shoppers can specifically browse for sets. Selling higher-priced units of multiple discounted products where shoppers are sure to see them is an effective way to drive sales and pique interest in bundles.
- Using inventory management: Before packaging and shipping your business’s beauty products, organize the sales process from start to finish with an inventory management system. A flexible and secure cloud-based system will help your business save money and time, letting you control your inventory to fulfill stock and order requests. Inventory management gives you a comprehensive view of your business inventory at all times, so you’ll have all the information you need to build product sets and devise the best bundling strategies.
Benefits of Kitting and Bundling
Implementing kitting and bundling strategies can help boost your business in the following ways:
- Sales increases: One of the most immediate returns your business will see from selling bundled products is an increase in sales. Many customers are willing to spend more money to get the bundled perks and may even view them as a long-term solution to their health and beauty needs. Shoppers who discover products through bundles may also purchase those items individually in the future.
- Dead stock reduction: If you have items that aren’t selling well on their own, adding them to bundles can reinvigorate their appeal. Keeping your inventory moving will help you save on holding costs, create less waste and free up warehouse space for other successful items.
- Lower fulfillment and material costs: Packaging several items together creates more straightforward packaging practices and lets you buy less packaging, helping you lower your costs for materials and labor.
- Convenience: Bundling several products into one order consolidates the fulfillment process. Instead of packing and shipping each item separately, warehouse staff can package several items at once, which is quicker and easier.
- Environmental sustainability: Using less packaging also helps reduce waste and keeps many disposable packing materials out of landfills.
- Higher order values: People who buy bundles are more likely to spend more money per order than if they were purchasing each product individually. These higher order values mean your business will get more money from customers with each purchase, raising your return on investment from advertising and product design.
- Lower shipping costs: Bundling personal care products lets you benefit from reduced shipping costs, as bundles often cost the same to ship as their individual items. When your company can cut back on shipping costs, your customers also pay less for shipping on their end, which increases their satisfaction and loyalty.
Learn More About Finale Inventory Today
Kitting and bundling is the perfect way for the beauty industry to drive sales increases and deliver ultimate shopper satisfaction. From cost savings to higher sales opportunities, product bundles help your business succeed while catering to the needs and interests of your dedicated customers.
Finale Inventory makes selling product bundles easier than ever. Our software tracks the inventory numbers of each item in a bundle and automatically deducts from their individual totals whenever you sell promotional product combinations. Whether you sell products individually, as bundles or both, you’ll always know exactly how much you have in stock.
Contact us today to discover everything else Finale Inventory can do for you!