Determining pricing information from merchant data
US11966961B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 22, 2021 |
| Grant date | Apr 23, 2024 |
| Priority date | — |
| Expiry date | Jan 25, 2042 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0268
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A service provider may receive item price information and/or point of sale (POS) transaction information from a plurality of merchant devices associated with a plurality of merchants. The service provider may categorize the plurality of merchants according to the types of items offered by the respective merchants, and may further categorize the merchants according to the locations at which they conduct business. The service provider may subsequently determine a price recommendation or other pricing information for a particular item offered by a particular merchant. A merchant device of the particular merchant may present the pricing information in a user interface that enables the merchant to view projected sales at various different price points. Further, the merchant may be able to specify one or more factors used for determining the recommend price, such as a desired business model, a desired clientele, a desired profit margin, or the like.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.