SYSTEM AND METHOD FOR COLLECTIVE AND GROUP DISCOUNT PROCESSING MANAGEMENT
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United States of America Patent
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Issued Date -
Jul 12, 2012
app pub date -
Jan 9, 2012
filing date -
Jan 7, 2011
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Abstract
Discount processing auction methods and systems are provided where buyers pool their purchasing power in order to get more competitive offers from sellers. Instead of sellers directly bidding for the buyer's shopping lists, the sellers update their discount rules and a discount processing method processes the sellers' latest discount rules and presents the results to the buyers while the auction is active. Buyers dynamically form a group and invite others to join the group to increase their purchasing power and maximize the discounts. Customers can form a social network with other buyers to share wish-lists, shopping carts, and discount scenarios. Consumers who commit to buy a total number of items over a period of time increase their effective purchasing power across time. Sellers also group together to offer higher total discount on a combination of items to buyers.
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