If you sell to both retail and B2B customers, a bundle discount can clash with the special pricing in your B2B catalog. Excluding B2B keeps the bundle away from those shoppers, so your wholesale pricing stays exactly as you set it while retail shoppers still see the bundle.
Where the setting is
Open the bundle, go to the Advanced tab, and find the Advanced settings card. Exclude B2B customers is a checkbox on that card.
It is a separate card from Markets, which sits on the same tab. If you go looking for this checkbox under Markets you will not find it.
The checkbox is always available, on every bundle structure.
Who counts as a B2B customer here
The exclusion applies to a shopper who is signed in to a company account. It is not a property of the product, the catalog or the price list — it is about the session the shopper is browsing in.
A shopper who is not signed in to a company account sees the bundle normally, whatever else is true about them.
What an excluded shopper loses
The bundle is removed both from what the widget can show them and from the automatic discount computed at checkout.
That second part matters: adding the component products to the cart by hand will not earn the bundle price either. The exclusion is not just a hidden widget.
The checkbox is locked during an A/B test
Exclude B2B customers is greyed out on the non-primary variant of a running A/B test, because it is one of the fields shared across both variants.
Edit it on the primary (A) variant, or end the test and choose a winner first.
This is not market targeting
The two are different controls, on different cards, and they can be used together.
Exclude B2B customers is about the shopper's session — signed in to a company account or not. Markets is about location, limiting the bundle to the countries your chosen Shopify markets cover. See "Can I limit the markets I want to make bundles available?" for that one.
The limit worth knowing before you plan around it
Markets and Exclude B2B customers are the only audience controls the app has.
There is no customer-tag, customer-segment, VIP or logged-in-only targeting, so a "members only" bundle cannot be built. If you need a bundle offered to one group of named customers and withheld from everyone else, these two controls will not do it.