US 2016/0343050 A1 - Method, Apparatus, And Computer-readable Medium For Leveraging Real-time Sales Volume For Conducting Group Buys - The Lens

Method, Apparatus, And Computer-readable Medium For Leveraging Real-time Sales Volume For Conducting Group Buys

Published: Nov 24, 2016
Earliest Priority: May 19 2015
Family: 4
Cited Works: 0
Cited by: 0
Cites: 0
Additional Info: Full text

Abstract

A method, apparatus, and computer-readable medium for leveraging real-time sales volume for conducting group buys comprising initializing a sale of an item, the sale specifying a current price of the item which is calculated based on a current sales volume of the item and sales volume ranges, processing transactions with users for items at a purchase price equal to the current price when a purchase request is received from the corresponding user, terminating the sale of the item at a closing price when the current sales volume has reached a threshold or when a period of time has passed since the sale was initialized, and crediting accounts belonging to one or more users with an additional amount based at least in part on a difference between the closing price and the purchase price for each item for the corresponding user.

Claims

A method executed by one or more computing devices for leveraging real-time sales volume for conducting group buys, the method comprising:
initializing, by at least one of the one or more computing devices, a sale of an item, wherein the sale specifies a current price of the item, wherein the current price is dynamically calculated for a duration of the sale based at least in part on a current sales volume of the item and a plurality of sales volume ranges;

processing, by at least one of the one or more computing devices, a plurality of transactions with a plurality of users for a plurality of items, wherein a purchase price for each item in the plurality of plurality of items comprises the current price when a purchase request is received from the corresponding user;

terminating, by at least one of the one or more computing devices, the sale of the item based at least in part on one or more of a determination that the current sales volume has reached a predetermined threshold or a determination that a predetermined period of time has passed since the sale was initialized, wherein the current price at termination of the sale comprises the closing price; and

crediting, by at least one of the one or more computing devices, one or more accounts belonging to one or more users in the plurality of users with an additional amount, wherein the additional amount for each account in the one or more accounts is based at least in part on a difference between the closing price and the purchase price for each item for the corresponding user.
The method of claim 1, wherein each sales volume range in the plurality of sales volume ranges has a corresponding price and wherein the current price is calculated by:
determining the current sales volume of the item;

identifying a sales volume range in the plurality of sales volume ranges which includes the current sales volume; and

setting the current price to the corresponding price for the identified sales volume range.
The method of claim 1, wherein processing a plurality of transactions with a plurality of users for a plurality of item comprises, for each transaction and each user:
receiving a purchase request from the user indicating a desire to purchase one or more items at the current price;

receiving payment information of the user;

processing a payment at the current price based on the payment information; and

transmitting the one or more items to the user.
The method of claim 3, wherein the purchase request is received via an Application Programming Interface associated with an account belonging to the user.
The method of claim 1, further comprising:
calculating, by at least one of the one or more computing devices, a commission based at least in part on one or more of the sales volume, the purchase price for each item, and a quantity of sales volume ranges;

calculating, by at least one of the one or more computing devices, a seller payment amount based at least in part on one or more of the sales volume, the closing price, and the commission; and

transmitting, by at least one of the one or more computing devices, the seller payment amount to a seller of the item.
The method of claim 5, wherein calculating a commission comprises:
multiplying the sales volume by a transaction cost to generate a first product;

multiplying each purchase price for each item by a transaction percentage to generate a plurality of second products;

multiplying a price reduction cost by a number of price reductions which occurred during the sale to generate a third product; and

summing the first product, the plurality of second products, and the third product to generate the commission.
The method of claim 5, wherein calculating a seller payment amount comprises:
multiplying the sales volume by the closing price to generate a total sales amount; and

subtracting the commission from the total sales amount to generate the seller payment amount.
The method of claim 1, wherein the item comprises one or more of a product, a service, a coupon for a product or service, and a certificate redeemable with a seller for a product or service.
An apparatus for leveraging real-time sales volume for conducting group buys, the apparatus comprising:
one or more processors; and

one or more memories operatively coupled to at least one of the one or more processors and having instructions stored thereon that, when executed by at least one of the one or more processors, cause at least one of the one or more processors to:
initialize a sale of an item, wherein the sale specifies a current price of the item, wherein the current price is dynamically calculated for a duration of the sale based at least in part on a current sales volume of the item and a plurality of sales volume ranges;

process a plurality of transactions with a plurality of users for a plurality of items, wherein a purchase price for each item in the plurality of plurality of items comprises the current price when a purchase request is received from the corresponding user;

terminate the sale of the item based at least in part on one or more of a determination that the current sales volume has reached a predetermined threshold or a determination that a predetermined period of time has passed since the sale was initialized, wherein the current price at termination of the sale comprises the closing price; and

credit one or more accounts belonging to one or more users in the plurality of users with an additional amount, wherein the additional amount for each account in the one or more accounts is based at least in part on a difference between the closing price and the purchase price for each item for the corresponding user.
The apparatus of claim 9, wherein each sales volume range in the plurality of sales volume ranges has a corresponding price and wherein the current price is calculated by:
determining the current sales volume of the item;

identifying a sales volume range in the plurality of sales volume ranges which includes the current sales volume; and

setting the current price to the corresponding price for the identified sales volume range.
The apparatus of claim 9, wherein at least one of the one or more memories has further instructions stored thereon that, when executed by at least one of the one or more processors, cause at least one of the one or more processors to:
calculate a commission based at least in part on one or more of the sales volume, the purchase price for each item, and a quantity of sales volume ranges;

calculate a seller payment amount based at least in part on one or more of the sales volume, the closing price, and the commission; and

transmit the seller payment amount to a seller of the item.
The apparatus of claim 11, wherein the instructions that, when executed by at least one of the one or more processors, cause at least one of the one or more processors to calculate a commission further cause at least one of the one or more processors to:
multiply the sales volume by a transaction cost to generate a first product;

multiply each purchase price for each item by a transaction percentage to generate a plurality of second products;

multiply a price reduction cost by a number of price reductions which occurred during the sale to generate a third product; and

sum the first product, the plurality of second products, and the third product to generate the commission.
The apparatus of claim 11, wherein the instructions that, when executed by at least one of the one or more processors, cause at least one of the one or more processors to calculate a seller payment further cause at least one of the one or more processors to:
multiply the sales volume by the closing price to generate a total sales amount; and

subtract the commission from the total sales amount to generate the seller payment amount.
The apparatus of claim 9, wherein the item comprises one or more of a product, a service, a coupon for a product or service, and a certificate redeemable with a seller for a product or service.
At least one non-transitory computer-readable medium storing computer-readable instructions that, when executed by one or more computing devices, cause at least one of the one or more computing devices to:
initialize a sale of an item, wherein the sale specifies a current price of the item, wherein the current price is dynamically calculated for a duration of the sale based at least in part on a current sales volume of the item and a plurality of sales volume ranges;

process a plurality of transactions with a plurality of users for a plurality of items, wherein a purchase price for each item in the plurality of plurality of items comprises the current price when a purchase request is received from the corresponding user;

terminate the sale of the item based at least in part on one or more of a determination that the current sales volume has reached a predetermined threshold or a determination that a predetermined period of time has passed since the sale was initialized, wherein the current price at termination of the sale comprises the closing price; and

credit one or more accounts belonging to one or more users in the plurality of users with an additional amount, wherein the additional amount for each account in the one or more accounts is based at least in part on a difference between the closing price and the purchase price for each item for the corresponding user.
The at least one non-transitory computer-readable medium of claim 15, wherein each sales volume range in the plurality of sales volume ranges has a corresponding price and wherein the current price is calculated by:
determining the current sales volume of the item;

identifying a sales volume range in the plurality of sales volume ranges which includes the current sales volume; and

setting the current price to the corresponding price for the identified sales volume range.
The at least one non-transitory computer-readable medium of claim 15, further storing computer-readable instructions that, when executed by at least one of the one or more computing devices, cause at least one of the one or more computing devices to:
calculate a commission based at least in part on one or more of the sales volume, the purchase price for each item, and a quantity of sales volume ranges;

calculate a seller payment amount based at least in part on one or more of the sales volume, the closing price, and the commission; and

transmit the seller payment amount to a seller of the item.
The at least one non-transitory computer-readable medium of claim 17, wherein the instructions that, when executed by at least one of the one or more computing devices, cause at least one of the one or more computing devices to calculate a commission further cause at least one of the one or more computing devices to:
multiply the sales volume by a transaction cost to generate a first product;

multiply each purchase price for each item by a transaction percentage to generate a plurality of second products;

multiply a price reduction cost by a number of price reductions which occurred during the sale to generate a third product; and

sum the first product, the plurality of second products, and the third product to generate the commission.
The at least one non-transitory computer-readable medium of claim 17, wherein the instructions that, when executed by at least one of the one or more computing devices, cause at least one of the one or more computing devices to calculate a seller payment further cause at least one of the one or more computing devices to:
multiply the sales volume by the closing price to generate a total sales amount; and

subtract the commission from the total sales amount to generate the seller payment amount.
The at least one non-transitory computer-readable medium of claim 15, wherein the item comprises one or more of a product, a service, a coupon for a product or service, and a certificate redeemable with a seller for a product or service.