US 10,896,433 B2Granted

Dynamic pricing systems and methods

AssigneeWalmart Apollo, LLC

InventorsAmaresh Nayak, Vijay Patil

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Abstract

Example dynamic pricing systems and methods are described. A system can comprise one or more programs comprising instructions to receive a request from a graphical user interface of a mobile device of a user for a price of one or more items; receiving an indication of an occurrence of a first event unrelated to a particular customer, wherein the first event is related to the one or more items; receive an indication of an occurrence of a second event unrelated to a particular customer, wherein the second event is related to the one or more items; access data regarding the first event and the second event; determine whether to adjust the price associated with the one or more items based on the data regarding the first event and the second event; responsive to determining to adjust the price associated with the one or more items, determine a new price for the one or more items based on the first event, the second event, and previous user behavior comprising at least one of user loyalty, user returns, or user interests of the user; generate a search listing comprising the one or more items responsive to the request of the user based on the price, as adjusted, of the one or more items in the search listing; when it is determined that a price adjustment is not required for the one or more items, displaying the price without adjustment of the one or more items in response to the request of the user; and facilitating displaying, to the graphical user interface of the mobile device, the final search listing in response to the request of the user. Other embodiments are disclosed herein.

Claims20

Dependent claims

A dynamic pricing system comprising:

one or more processors;
and
one or more non-transitory computer readable media storing computing instructions configured to run on the one or more processors and perform:
receiving a request from a graphical user interface of a mobile device of a user searching a website of a retailer for a price of an item;
receiving an indication of an occurrence of a first event unrelated to a particular customer, wherein the first event is related to the item;
receiving an indication of an occurrence of a second event unrelated to the particular customer, wherein the second event is related to the item;
accessing data regarding the first event and the second event;
determining whether to adjust the price associated with the item based on the data regarding the first event and the second event;
responsive to determining to adjust the price associated with the item, adjusting the price to be a new price for the item based on the first event, the second event, and previous user behavior comprising at least one of user loyalty, user returns, or user interests of the user, wherein adjusting the price comprises:
performing a price normalization for the item based on a dynamic pricing algorithm, wherein the dynamic pricing algorithm comprises seed input variables based on a seed, wherein the seed comprises one or more events, wherein the one or more events comprise the first event and the second event, wherein the seed input variables comprise a seed weight, a seedvaluefactor, an assigned seed weight, and a seed type, and wherein all of the seed input variables are present;
generating a search listing comprising the item, in response to the request of the user based on the price, as adjusted, of the item in the search listing;
when it is determined that a price adjustment is not required for the item, displaying the price without adjustment of the price in response to the request of the user;
determining a proximity of the user to a physical retail store;
and
when the user is within a predetermined distance of the physical retail store, facilitating transmitting an alert to the graphical user interface of the mobile device comprising a location of the physical retail store and the search listing in response to the request of the user.

12 more elements

A method comprising:

receiving, with a computer system using one or more processors, a request from a graphical user interface of a mobile device of a user searching a website of a retailer for a price of an item;
receiving, with the computer system, an indication of an occurrence of a first event unrelated to a particular customer, wherein the first event is related to the item;
receiving, with the computer system, an indication of an occurrence of a second event unrelated to the particular customer, wherein the second event is related to the item;
accessing, with the computer system, data regarding the first event and the second event;
determining, with the computer system, whether to adjust the price associated with the item based on the data regarding the first event and the second event;
responsive to determining to adjust the price associated with the item, adjusting the price, with the computer system, to be a new price for the item based on the first event, the second event, and previous user behavior comprising at least one of user loyalty, user returns, or user interests of the user, wherein adjusting the price comprises:
performing a price normalization for the item based on a dynamic pricing algorithm, wherein the dynamic pricing algorithm comprises seed input variables based on a seed, wherein the seed comprises one or more events, wherein the one or more events comprise the first event and the second event, wherein the seed input variables comprise a seed weight, a seedvaluefactor, an assigned seed weight, and a seed type, and wherein all of the seed input variables are present;
generating, by the computer system, a search listing comprising the item, in response to the request of the user based on the price, as adjusted, of the item in the search listing;
when it is determined that a price adjustment is not required for the item, displaying, by the computer system, the price without adjustment of the price in response to the request of the user;
determining, by the computer system, a proximity of the user to a physical retail store;
and
when the user is within a predetermined distance of the physical retail store, facilitating transmitting an alert to the graphical user interface of the mobile device comprising a location of the physical retail store and the final search listing in response to the request of the user.

9 more elements

Dependencies are inferred from the claim text.

Facts

Application: 15/876,616Filed 22 Jan 2018 · division
Priority: 30 Apr 2014
Published: US 2018/0144357 A124 May 2018
Granted: 19 Jan 2021
Term ends: Not estimatedThe source records don’t support an estimate.

Classification5 codes

G06Q 30/0206
Market modelling; Market analysis; Collecting market data: price or cost determination based on market factors
G06Q 10/087
Logistics, e.g. warehousing, loading or distribution; Inventory or stock management: inventory or stock management, e.g. order filling,…
G06Q 10/08726
Using inventory planning: for replenishment processing, procedures, or recommendations using forecasting or optimisation
G06Q 10/40
Administration; Management: business processes related to social networking or social networking services

Family

Application14/266,519Parent of this division · filed 30 Apr 2014
US 2018/0144357 A1Pre-grant publication · published 24 May 2018
US 10,068,241 B2Parent of this division
US 2015/0317659 A1Published application
US 10,896,433 B2This patent

From the US filing history. Foreign family members aren’t listed.