Launch Bundles Without Replatforming With Elastic Path Product Experience Manager
As a digital commerce leader and innovator, you’re likely feeling the pressure to grow revenue. Analysts’ projections for the United States show that retail sales for the United States will reach $1.6 trillion by 2027, and CEOs and corporate boards expect digital commerce teams to deliver on that growth.
That’s why you’re striving to grow your business by dreaming up next-level merchandising strategies that will increase customer engagement and drive growth.
One common example of this is bundling. According to Forrester, cross-selling and upselling via bundles can increase revenue by 30%. You’ve recognized that implementing an effective bundling strategy would be a game-changer for reducing excess inventory and increasing AOV and revenue.
So what’s stopping you from launching that creative, personalized bundle experience that would “wow” your customers?
Let me replay a familiar scenario. You’ve laid out a bundle strategy that will appeal to your customer’s buying patterns and drive conversion, but then those dreams come to a crashing halt because your commerce platform doesn’t have the capability to support it. It’s inflexible and dated with pre-integrated functionality that is mediocre at best. Creating this bundle experience would either take tons of custom development work or patching together multiple third-party integrations.
So, you toss that strategy out the window. You know that you need a modern, agile solution that can cater to these complex merchandising strategies, but the thought of replatforming is daunting, time-consuming and expensive.
What if I told you that there’s another way? You can create unique, dynamic bundle experiences in minutes without replatforming? No custom development work, just a few simple steps within a business user tooling.
I’m ready to share with you how you can bring your bundling vision to life without replatforming.
Elastic Path Allows You To Gradually Transition Into Composable Commerce
At Elastic Path, we recognize that not all brands are ready to do a complete replatforming project. Maybe you’ve just spent a significant amount of time and money on a replatform. Or you’re satisfied with your core commerce functionality but you wish you could optimize cart and checkout, or payments, or merchandising.
The truth is, we never want you to replatform ever again. That’s why we have built modular standalone products that you can use to cater to your specific business needs.
These products allow you to embrace a Composable Commerce approach in a gradual way, iterating as you go.
So what standalone product do you need to create game-changing bundles? Enter Elastic Path Product Experience Manager.
Get Your Hands On EP Product Experience Manager (PXM)
Merchandise Every Unique Product Experience, Without Custom Dev WorkGo to EP PXM
Product Experience Manager Powers Bundles for Complex Use Cases
Product Experience Manager combines commerce PIM, product merchandising, and Catalog Composer capabilities in one central place.
It gets to the core of what’s broken in most commerce platforms. By redesigning underlying data structures including separating product data from pricing data and rethinking merchandising capabilities, we give brands complete freedom to design the product experiences that customers expect, without custom hacks and expensive development projects.
So what does this mean practically?
Let’s say you’re a wellness brand and you want to create a dynamic upsell bundle where customers can pick and choose the products they would like to select from a selection of products. The bundles are dynamic in that there are component options and categories that customers can select from to create their own bundle.
For example, there will be 4 vitamin/supplement options and customers get to choose one. You want to get rid of some excess inventory from the previous winter season. This “Spring Cleaning Knockout” bundle will include items such as vitamins/supplements, fitness equipment, and fitness attire. The incentive is that customers will get a discounted price for buying the bundle vs buying the products separately.
With a traditional platform, the price and product data are tightly coupled. In order to create this bundle, you’d likely have to duplicate the product, creating a new SKU with a discounted price. Or even worse, you might even have to ask your devOps team to come up with a hack to display the bundles appropriately in a new catalog. By the time you get to that point, you’re halfway into spring and the bundle idea was a missed opportunity.
However, with Product Experience Manager, product, pricing, and catalog data are completely de-coupled. This means you have the flexibility to swap product and pricing information quickly.
So, to create this bundle, you would simply add each item to the various components (categories, i.e. Supplements, Active Wear, and Fitness Gear) and create the bundle as a product with one SKU listed with discounted price. All of this can be done in minutes within our business user tooling Commerce Manager.
Bundling is a highly effective merchandising strategy to implement that can yield big returns. Don’t let the fear of replatforming hinder you from creating these differentiated product experiences.
Want to see exactly how dynamic bundles are set up within the business user tooling? Check out our blog on “How to Create Dynamic Bundles.” And while you’re at it, learn more about the other innovative experiences powered by Product Experience Manager.
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