Forecast and demand based price calculation

• US 8,684,266 B2
• Filed: 04/02/2012
• Issued: 04/01/2014
• Est. Priority Date: 04/19/1999
• Status: Expired due to Fees

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: Enpulz LLC
• Inventors: Winslade, Christopher C., Bennett, James D.
• Primary Examiner(s): RUDY, ANDREW J
• Application Number:
  US13/437,088
• Publication Number:
  US 20120209661A1
• Time in Patent Office: 729 Days
• Field of Search: 235/376, 235/378, 235/383, 705/5, 705/7.12, 705/7.25, 705/7.31, 705/7.35, 705/7.36, 705/26.1, 705/26.7, 705/30, 705/34, 705/26.4, 709/224, 709/223
• US Class Current: 235/383
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/0244 Optimization
• CPC Class Codes: G06Q 30/0251 Targeted advertisements
• CPC Class Codes: G06Q 30/0253 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0255 based on user history
• CPC Class Codes: G06Q 30/0257 User requested
• CPC Class Codes: G06Q 30/0261 based on user location
• CPC Class Codes: G06Q 30/0269 based on user profile or attribute
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 40/03 : Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 : Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/08 : Insurance

Abstract

An online sales/automatic rebate and coupon redemption system provides online customers automatic retrieval and redemption of all applicable rebates and coupons during purchase. Purchase orders from customers are selectively fulfilled and products are shipped to the customers either by the system for online sales with automatic rebate and coupon redemption or by other merchant or manufacturer environments. The system purchases from merchants using applicable coupons and rebates and then sells the products to the customers, passing the savings to them. The system makes it possible to automatically retrieve coupons and rebates for items in a shopping cart during the activity of an online purchase at an electronic mall or an online merchant site. The system provides coupons to potential customers via email, based on customer profile, geographical information, etc. Manufacturers and merchants can update coupon value and content based on ongoing sales and volume of customer activity.

Claims

1. An online sales system for online sales, the online sales system comprising:

a pricing manager retrieves a forecasted price from a pricing forecast provider communicatively coupled to the online sales system;

a tracking manager that tracks online sales and demand for items for sale; and

the pricing manager computes prices for each of the items for sale based on a corresponding forecasted price and demand, saves a quote, based on instructions from a customer, for subsequent retrieval, repricing, and purchase, and generates a new quote based upon retrieved rebate information.

2. The online sales system of claim 1 further comprising:

a quote generator that generates and presents a quote based on selected items and computed prices; and

the quote generator regenerating the quote based on recomputing prices at a later date.

3. The online sales system of claim 1 recommending an optimum time frame for the purchase of the selected items based on forecasted prices and demand.

4. The online sales system of claim 1 wherein the quote recommends a time frame in the future when the quoted prices are likely to be lower based on forecasted prices provided by the pricing forecast provider.

5. The online sales system of claim 1 wherein the quote generator recommends alternate items to a customer in a customer specific quote generated, based on a current price forecast for those alternate items.

6. The online sales system of claim 1 wherein the quote generator receives a demand schedule change from the customer, retrieves updates to forecasted prices provided by the pricing forecast provider, and generates an updated customer specific quote that is presented to the customer for review and approval.

7. The online sales system of claim 6 wherein the online sales system provides a refund to a customer based on the difference between an actual delivery prices that is determined at delivery and the customer specific quote.

8. The online sales system of claim 1, wherein the new quote is further based upon the customer'"'"'s schedule of product delivery and a forecast of prices.

9. The online sales system of claim 1, wherein the new quote is further based upon retrieved available coupons.