In the latest Sitecore Experience Commerce release (XC10) we see the introduction of the dynamic bundle feature. Dynamic bundles enables a merchandising strategy that lets shoppers buy a group of products easily. Different to static bundles, the shopper can modify the items within a dynamic bundle which is reflective in the bundles price.
Some merchants only sell items as part of a bundle rather than individually. For others who sell the same items both individually and bundled, the bundle tends to cost less than if a customer were to purchase those items individually. Both approaches are support in the release.
There are many benefits that exist for both the shopper and merchant when offering a bundle.
Some shopper benefits include:
- Cost savings – Product bundles can be especially popular with customers who appreciate the bundle’s discount.
- Time savings – Customers appreciate the speed or simplicity of purchasing a bundle over individually adding products to their cart.
Some merchant benefits:
- Increase customer engagement – by offering more flexible shopping options, ease of use, coupled with cost and time savings, customers will be more engaged. Ultimately resulting in decreased bounce rate and less price-comparison being done by shoppers.
- Increase average order value – Bundling can increase the average order value, as the shopper might have intended to only purchase a single item. It allows merchants to sell more without incurring higher transaction costs.
- Drive cross sales – Bundling can enable strategies to cross-sell to new product ranges, facilitate hitting volume targets for existing ranges, to name a few.
- Increase conversions – by being easier to transact with and offering cheaper pricing, bundling can see an increase in conversions.
Here is a detailed walkthrough of how the feature works in the release.
- 00:00 – 03:16 – Intro, benefits of dynamic bundle
- 03:16 – 05:32 – Explanation of the demo scenario
- 05:32 – 11:28 – Creation & Automatic Pricing
- 11:28 – 14:21 – Manual Pricing
- 14:21 – 18:07 – Inventory Management
- 18:07 – 23:30 – Cross-selling and Upselling
- 23:30 – 26:55 – Highlight Bundles in Search Results
- 26:55 – 28:24 – Summary