Product bundling can be a mystery to direct-to-consumer (DTC) brands. It can be difficult and perplexing. So, how do some brands make it seem so effortless? (A-hem, Caraway.)
In this episode of The Checkout, Caraway’s VP of operations, Mark Riskowitz, delves into the intricacies of creating a sustainable product bundling strategy and shares the hyper-successful bundling playbook behind the phenomenal growth of Caraway. Tune in and learn:
““The dangling carrot effect happens when you see an opportunity for a virtual bundle because all of the data points to it. You want to test it out and the moment you do, you get that taste of upsell, that taste of increase in AOV."Mark Riskowitz, VP of operations at Caraway
Mark is the vice president of operations at Caraway. He is responsible for leading all components of the end-to-end operation functions, including supply chain, customer experience, accounting, finance, and internal platforms.
Before Caraway, he led operations and logistics for several ecommerce brands under the Mohawk Group, a global consumer product platform. There, he established himself as a supply chain expert by focusing on marrying end-to-end operations planning with the customer experience.
Connect with Mark on: LinkedIn
Caraway is most popular for its high-quality non-toxic cookware. It launched in November 2019 after its founder, Jordan Nathan, searched (without success) for non-PTFE or Teflon-coated products. As a result, Jordan decided to create his own. Now, Caraway is thoughtfully raising the standards of cookware.
As one of the fastest-growing DTC brands today, they have expanded to selling high-quality home goods, including pots, pans, table linens, food containers, and bakeware.
In this episode, Mark outlines the important factors and complexities to account for as you develop a bundling strategy — and how to work around them. Here are the highlights: