Product bundling is a marketing strategy that many retailers use to increase sales and attract customers. In the cannabis industry, product bundling can be a great way to introduce customers to new products and encourage them to try different strains or types of cannabis. Bundle promotions are especially effective around holidays such as 4/20, 7/10, Halloween, Green Wednesday, and Christmas. In this article, we will discuss how cannabis retailers can create product bundles that will benefit both the business and the customer.
Benefits of Product Bundling
Product bundling can offer many benefits to both the retailer and the customer. It can increase sales by encouraging customers to purchase more products than they would if they were buying them individually. Bundling can also help retailers move slow-selling products by pairing them with more popular items. For customers, bundling can create value by offering a discount on the total price of the products. It can also make it easier for them to try new products without committing to a full purchase.
How to Choose Products for Bundles
When creating product bundles for cannabis consumers, it’s important to consider what types of products will work well together. For example, a bundle of different strains of flower or pre-rolls could be appealing to customers who want to try different products without buying them all individually. Another idea is to create a bundle of products that are meant to be used together, such as a battery and a couple of different oil cartridges. This could be a great way to introduce customers to new methods of consumption.
Retailers should also consider the pricing of their bundles. Offering a discount on the total price of the products can make the bundle more appealing to customers. However, it’s important to ensure that the discount is not so large that it cuts into the retailer’s profit margin.
How to Create Product Bundles
BLAZE Retail makes it easy to create product bundles so that retailers can assign multiple products to one SKU or barcode. Dispensary staff simply need to navigate to the inventory section of the sidebar and select a category to create the bundled product. Next, they’ll need to click the Add Product button and select bundle as the product type. Then, you’ll provide a unique product name for the bundle and set it as Active by default.
Once you’ve completed these fields, the staff member will need to provide additional information about the bundle such as the category, retail value, vendor, and the weight per unit which should be set to Each by default. Make sure you choose the correct sell type for either Medicinal, Recreational, or Both. We strongly recommend adding a product description that speaks to the theme or contents of the bundle so that budtenders can educate customers on the contents of the bundle.
The next step is adding products to the bundle. Staff members can quickly click the Product drop-down, select an existing product, and enter the number of products they want to add to the bundle. Repeat as necessary to add more products. They can also remove a product by clicking the grey trashcan to the right of the specific item. Once you have all the products you want in your bundle, you can then upload a photo to represent your bundle that will appear on your e-commerce menu or digital in-store menu. Make this image eye-catching so that it makes the consumer curious about the bundle. Finally, click save to complete the process and your bundle is ready to be sold. Feel free to check out our Product Bundle webinar for a video demonstration on creating product bundles.
Conclusion
Product bundling is a great marketing strategy for cannabis retailers looking to increase sales and attract new customers. By bundling products together, retailers can create value for customers and encourage them to try new products. When creating product bundles, it’s important to consider what types of products will work well together and to offer a reasonable discount on the total price. With these tips in mind, cannabis retailers can create product bundles that benefit both the business and the customer.
