Inventory Product Bundling for Liquor Stores
Thrive by Shopventory handles tracking complex inventory from selling single bottles out of a pack to managing 2-for-1 sales
What is Product Bundling?
There are many ways you can bundle your liquor store inventory. However, bundling, also known as kitting, boils down to two or more complementary products sold together as a new product, with different variations, or at a discount.
Benefits of Bundling in a Liquor Store
- Increases the average order value by enticing customers to buy more than one product during a purchase
- Offer a unique product bundle that your competitors don't sell
- Get slow-moving products out the door and make room for more profitable ones
- Simplifies discount tracking
Types of Product Bundling
Pure Bundles
Pure bundling combines multiple component level products in a new way that customers can only purchase as a bundle. This could mean using ingredients to create your own mojito to-go kit. Customers can’t purchase the components separately, like limes, but can purchase the pre-made kit.
Mixed Bundles
Mixed bundling refers to products that have components combined together to form a unique product but customers can also purchase the products separately. Curated gift baskets are a great example. Shoppers can purchase a set of three red wines packaged together or can buy a single bottle off the shelf.
Price Bundles
Price bundling lends itself to discounting products when they are purchased in a set. You can promote a 2-for-1 sale and bundle the selected products together and sell them at a discount. Additionally, you can track different price variations under the same product, such as wholesale and retail.
Case Break Bundles
Case break bundling is almost the opposite of mixed bundles. This method includes breaking a product out of its original packaging and selling it in different packaging. For example, you can receive whiskey in cases but sell by the pour during an in-store tasting event.
How to Create Product Bundles
Using an inventory management software, like Thrive, is essential for creating and managing bundles, as most POS systems and e-commerce platforms don’t have this capability.
Thrive bundles will take your inventory and cost-tracking to the next level by tying together inventory quantities. Costs and quantities are automatically calculated, so scratch all those complicated spreadsheets. Just build the bundle and Thrive will manage all the individual components and inventory levels.
Additionally, Thrive means more accurate inventory tracking. Our reporting system will track the inventory and sales data for your bundles. PAR Levels and alerts let you know when it’s time to reorder a component, so you can stop guessing.
Case Break Inventory Tracking
Component Level Tracking
Alternate Price Point Version Tracking
Bundled Discount Tracking
Resources for Your Liquor Store
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