Dynamic group buying and product re-pricing using machine learning methods

A dynamic group buying and product pricing system for facilitating a sales transaction for purchasing a retail product by a group of buyers from at least one seller over an electronic network comprising a processor configured to execute the steps of:

• a. receiving into a dynamic price module, product information from the seller including a reserve quantity of product, a minimal sales price, a list price, a campaign duration, a number of campaign levels and a maximum price;
• b. utilizing a machine learning system to generate an optimized price campaign for use by the group of buyers, the optimized price campaign setting a first discount tier and a second discount tier wherein each of the discount tiers includes a discounted price of the product and a total number of pledges needed from the group of buyers to satisfy the discount tier, wherein the discounted price of the second discount tier is greater than the discounted price of the first discount tier;
• c. activating the optimized price campaign for a set duration to allow the group of buyers to make pledges in the first discount tier, wherein if the group of buyers meet the total number of pledges required from the first discount tier, then the group of buyers are eligible to receive the product at the discounted price of the first discount tier and qualify for the second discount tier, and if the group of buyers meet the total number of pledges required for the second discount tier, then the group of buyers are eligible to receive the product at the discounted price of the second discount tier;
• and
• d. notifying the group of buyers if they meet the number of pledges required for either the first or the second discount tier and provide the product to the group of buyers at the discounted price of the greatest number of tiers satisfied.