Abstract: With the ever-deepening marketization on the electricity retail side in China, electricity retailers are urged to provide targeted electricity packages for electricity consumers to ensure their market share and sustainable profitability. To this end, a peak-valley combination electricity package mode is proposed for electricity retailers as a new retail product, and a bi-level optimization model for designing the electricity package is built considering the bounded rationality of consumers. In the upper-level model, the parameters associated with the peak-valley combination electricity package and the electricity purchasing strategies of retailers in an electricity market are optimized to maximize the electricity purchase and sale revenue of retailers. While in the lowerlevel model, the objective is to maximize the comprehensive utility of a consumer through the customization of an electricity package. The value of the excess electricity and the impact of herd mentality are considered in the decision-making of a consumer,and the anchoring effect is introduced to model the electricity consumption behavior of consumers after purchasing electricity packages. Simulation results of a sample example with residential consumers in a given residence illustrate that the revenue of electricity retailers can be enhanced by encouraging consumers with bounded rationality to actively adjust their electricity consumption behaviors by designing the peak-valley combination electricity packages.