System, method and computer program product for on-line real-time price comparison and adjustment within a detachable virtual shopping cart

• US 6,873,968 B2
• Filed: 02/10/2001
• Issued: 03/29/2005
• Est. Priority Date: 02/10/2001
• Status: Expired due to Fees

• Current Assignee: Toshiba Global Commerce Solutions Holdings Corporation (Toshiba Corporation)
• Original Assignee: International Business Machines Corporation
• Inventors: Ehrlich, Marc Alan, Kraft, Reiner, Ruvolo, Joann
• Primary Examiner(s): Smith, Jeffrey A.
• Assistant Examiner(s): FADOK, MARK A
• Application Number:
  US09/780,812
• Publication Number:
  US 20020111873A1
• Time in Patent Office: 1,508 Days
• Field of Search: 705/26, 705/27, 705/20
• US Class Current: 705/80
• CPC Class Codes: G06Q 20/201 Price look-up processing, e.g. updating
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0629 for generating comparisons
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A price comparison and adjustment system can be used in the context of an Internet environment. The system is generally comprised of a server based browser, a shopping cart manager, an extract and verify module, a validation module, and a counter offer module. The system provides an Internet shopper with a convenient method for comparison shopping online while allowing the shopper control over the comparison-shopping search, which also enables a host merchant to counter offer prices at rival merchant'"'"'s web sites. The system also provides information about rival merchants to the host merchant, which allows the host merchant to develop an optimal pricing and counter offer strategy. The system creates a portable virtual shopping cart that allows the Internet user to browse rival merchants without the appearance of leaving the host merchant'"'"'s web site, and further allows the shopper to quickly return to the host merchant'"'"'s web site to purchase items in the virtual shopping cart.

Claims

1. A system for managing an on-line virtual shopping cart which contains information about an item offered by a host merchant, comprising:

a shopping cart manager that creates the virtual shopping cart and that detaches the virtual shopping cart prior to, or upon a shopper leaving a site of the host merchant to a different merchant'"'"'s site;

an extract and verify module that performs a comparison between a host merchant'"'"'s offer for the item and an offer from the different merchant'"'"'s site;

a counter offer module that selectively requests a counter offer from the host merchant relative to the item;

a validation module that automatically prepares a counter offer relative to an underbid offer from the different merchant'"'"'s site; and

the shopping cart manager automatically and selectively updates the item information in the virtual shopping cart to reflect the host merchant'"'"'s counter offer, so that when the shopper returns to the host merchant'"'"'s site for checkout, the shopper acquires the item at the host merchant'"'"'s counter offer.

2. The system of claim 1, wherein the validation module assesses the validity of the different merchant.

3. The system of claim 2, further comprising a persistent database that stores information about the host merchant'"'"'s item, the underbid offer, and the virtual shopping cart.

4. The system of claim 2, further including a checkout module.

5. The system of claim 1, wherein the item information includes any one or more of:

on item number, which is the number used to represent the item;

an item description, which is the description of an item;

a price, which is the price of the item quoted by the host merchant;

a rival offer, which is the offer made by the different merchant;

a merchant identifier, which is the identifier of the different merchant.

6. The system of claim 3, further including a browser that manages a persistent shopping session at the different merchant'"'"'s site.

7. The system of claim 3, wherein the shopping cart manager is responsible for performing any one or more of the following actions;

detach action, which writes the shopping cart to the persistent database and marks the shopping cart as detached;

checkout action, which initiates a purchase operation of the item offered by the host merchant;

save action, which writes the shopping cart to the persistent database and marks the shopping cart as saved;

resume action, which retrieves a previously saved shopping cart from the persistent database;

delete action, which removes a previously saved copy of the shopping cart;

add item action, which creates and adds a item to the shopping cart;

update item action, which retrieves a designated cart item and updates corresponding information fields;

delete item action, which deletes the designated cart item;

compare item action, which determines whether the different merchant has underbidded the host merchant'"'"'s offer for the item.

8. The system of claim 1, wherein the shopping cart is in any one of the following states:

a detached state, or a saved state.

9. The system of claim 2, wherein the persistent database includes information about rival merchants, which allows the validation module to monitor the rival merchants;

and

wherein the information maintained on the rival merchants includes any one or more of;

frequency that shoppers initiate comparison shopping at specific rival merchants;

frequency that the rival merchants underbid the host merchant'"'"'s offer;

amounts by which a rival merchant has underbid the host merchant'"'"'s offer.

10. A method of managing on on-line virtual shopping cart which contains information about an item offered by a host merchant, comprising:

automatically initiating a shopping session by creating the virtual shopping cart and by detaching the virtual shopping cart prior to, or upon a shopper leaving a site of the host merchant to rival merchant'"'"'s site;

performing a comparison between a host merchant'"'"'s offer for the item and an offer from the rival merchant'"'"'s site;

the host merchant automatically preparing a counter offer relative to an underbid offer from the rival merchant'"'"'s site; and

the host merchant automatically and selectively updating the item information in the virtual shopping cart to reflect the host merchant'"'"'s counter offer, so that when the shopper returns to the host merchant'"'"'s site for checkout, the shopper acquires the item at the host merchant'"'"'s counter offer.

11. The method of claim 10, further comprising assessing the validity of the rival merchant.

12. The method of claim 11, further comprising storing information about the host merchant'"'"'s item, the rival merchant'"'"'s offer, and the virtual shopping cart.

13. The method of claim 12, wherein creating the virtual shopping cart comprises performing any one or more of the following actions:

detach action, which writes the shopping cart to the persistent database and marks the shopping cart as detached;

checkout action, which initiates a purchase operation of the item offered by the host merchant;

save action, which writes the shopping cart to the persistent database and marks the shopping cart as saved;

resume action, which retrieves a previously saved shopping cart from the persistent database;

delete action, which removes a previously saved copy of the shopping cart;

add item action, which creates and adds an item to the shopping cart;

update item action, which retrieves a designated cart item and updates corresponding information fields;

delete item action, which deletes the designated cart item;

compare item action, which determines whether the rival merchant has underbidded the host merchant'"'"'s offer for the item.

14. The method of claim 10, wherein if the rival merchant'"'"'s offer is more competitive than the host merchant'"'"'s offer, presenting the host merchant with an opportunity to counter-offer the rival merchant'"'"'s offer.

15. The method of claim 14, wherein, if the host merchant is unable to make a counter-offer, allowing the shopper who initiates the shopping session to remove the item from the virtual shopping cart.

16. The method of claim 15, wherein upon termination of the shopping session, providing the shopper with an opportunity to purchase the host merchant'"'"'s item.

17. The method of claim 16, wherein upon termination of the shopping session, returning the shopper to the host merchant'"'"'s site.

18. The method of claim 17, wherein activating the shopping session is initiated when the shopper leaves the host merchant'"'"'s site.

19. The method of claim 18, further comprising deactivating the persistent shopping session when the shopper returns to the host merchant'"'"'s site.

20. A computer program product having executable instructions codes for managing on on-line virtual shopping cart which contains information about on item offered by a host merchant, comprising:

a first set of instruction codes for creating the virtual shopping cart and for detaching the virtual shopping cart prior to, or upon a shopper leaving a site of the host merchant to a different merchant'"'"'s site;

a second set of instruction codes for selectively requesting a counter offer from the host merchant relative to the item;

a third of instruction codes for automatically preparing a counter offer relative to an underbid offer from the different merchant'"'"'s site; and

a fourth set of instruction codes for automatically and selectively updating the item information in the virtual shopping cart to reflect the host merchant'"'"'s counter offer, so that when the shopper returns to the host merchant'"'"'s site for checkout, the shopper acquires the item at the host merchant'"'"'s counter offer.

21. The computer program product of claim 20, further comprising a fifth set of instruction codes for validating the different merchant.

22. The computer program product of claim 21, further comprising a persistent database that stores information about the host merchant'"'"'s item, the different merchant'"'"'s offer, and the virtual shopping cart.

23. The computer program product of claim 21, further comprising a sixth set of instruction codes for allowing the shopper to checkout from the host merchant'"'"'s site.

24. The method of claim 20, wherein if the rival merchant'"'"'s offer is more competitive than the host merchant'"'"'s offer, the second set of instruction codes presents the host merchant with an opportunity to counter-offer the rival merchant'"'"'s offer.

25. The method of claim 24, wherein, if the host merchant is unable to make a counter-offer, the second set of instruction codes allows the shopper who initiates the shopping session to remove the item from the virtual shopping cart.