How to Predict Demand for Product Bundles?
When it comes to sales and marketing, offering product bundles can be a great way to increase revenue and attract customers. A bundle refers to a group of related products or services that are sold together as a package deal, often at a discounted price. Businesses can gain competitive advantage in the market by offering product bundles. Customers love personalized product bundles, one that is put together with the right kind of goods. Now, to meet the demand for these goods, it is essential that the availability of every product in the bundle is ensured. This is where advanced technologies such as AI and ML integrated into replenishment planning software can be used to accurately predict demand for each individual product in the bundle. What is Product Bundling? Product bundling is the process of combining various products and selling them in hampers and combos. These bundles are sold at a reasonable and affordable price to attract buyers. This strategy is being impl...