How do you keep your cross-merchandising and bundling fresh and relevant in a changing market?

1 Understand your customer journey

The first step to successful cross-merchandising and bundling is to understand your customer journey and identify the opportunities to offer complementary or value-added products or services. Think about how your customers shop, what they need, what they want, and what problems they have. Then, map out the different touchpoints and zones in your store where you can cross-merchandise or bundle relevant items that can enhance their satisfaction, convenience, or loyalty. For example, you can cross-merchandise snacks and drinks near the checkout, or bundle hair products and accessories near the salon.

2 Use data and feedback

The second step to keeping your cross-merchandising and bundling fresh and relevant is to use data and feedback to measure and optimize your results. You can use various tools and methods to track and analyze your sales, inventory, traffic, conversion, and customer satisfaction. For example, you can use POS data, loyalty programs, surveys, reviews, or social media to gain insights into what works and what doesn't, what your customers like and dislike, and what trends and preferences are emerging. Then, you can use this information to adjust your cross-merchandising and bundling strategies accordingly.

3 Be creative and flexible

The third step to keeping your cross-merchandising and bundling fresh and relevant is to be creative and flexible in your execution. You can use different types of displays, signage, lighting, colors, themes, and stories to showcase your cross-merchandising and bundling offers. You can also experiment with different combinations, prices, discounts, and incentives to entice your customers. Moreover, you can change your cross-merchandising and bundling displays regularly to reflect seasonal, promotional, or situational factors. For example, you can cross-merchandise or bundle items related to holidays, events, weather, or occasions.

4 Test and learn

The fourth step to keeping your cross-merchandising and bundling fresh and relevant is to test and learn from your experiences. You can use different methods to test your cross-merchandising and bundling ideas and compare their performance. For example, you can use A/B testing, split testing, or multivariate testing to evaluate different variables such as placement, layout, design, wording, or offer. You can also use control groups, benchmarks, or best practices to compare your results with others. Then, you can use the data and feedback you collect to learn from your successes and failures and improve your cross-merchandising and bundling tactics.

5 Align with your brand and goals

The fifth step to keeping your cross-merchandising and bundling fresh and relevant is to align them with your brand and goals. You should ensure that your cross-merchandising and bundling offers are consistent with your brand identity, values, and message. You should also ensure that they support your business objectives, such as increasing sales, margin, retention, or loyalty. You should avoid cross-merchandising or bundling items that are irrelevant, incompatible, or contradictory to your brand or goals. For example, you should not cross-merchandise or bundle items that are low-quality, unethical, or competitive to your main products or services.

6 Monitor and evaluate

The sixth step to keeping your cross-merchandising and bundling fresh and relevant is to monitor and evaluate your performance and results. You should set clear and measurable goals and indicators for your cross-merchandising and bundling campaigns and track them regularly. You should also review and analyze your data and feedback and identify the strengths, weaknesses, opportunities, and threats of your cross-merchandising and bundling strategies. You should also seek feedback from your customers, employees, suppliers, or partners and listen to their suggestions and complaints. Then, you should use the information and insights you gather to refine and optimize your cross-merchandising and bundling offers.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?