Pre-sale data broadcast system and method
View Patent ↗A method for promoting the sale of a substitute product at the point of sale (POS). At least one POS terminal communicates with a POS server which in turn communicates with various manufacturer servers to transmit information therebetween. Upon the presentation of an original product for purchase by a consumer at a POS terminal, various manufacturers may decide to offer a substitute product to the consumer, prior to completing the purchase of the original product. As such, various manufacturers may offer promotional offers to encourage the buyer to favorably “switch” products. If the customer accepts the offer, the point of sale terminal completes the sale of the substitute product.
1. A method for promoting a sale of a substitute product, comprising:
receiving, by a point of sale terminal, transaction data regarding an original product presented for purchase by a consumer at the point of sale terminal;
transmitting, by the point of sale terminal, said transaction data to a server of a manufacturer during a transaction session;
upon receipt, by the point of sale terminal, of information regarding a substitute product from said server, offering, by the point of sale terminal, said substitute product to said consumer before the transaction session terminates;
consummating, by the point of sale terminal, a sale of said original product if at least one of (a) no information regarding said substitute product is received from said server, and (b) said consumer declines said offering; and
consummating, by the point of sale terminal, a sale of said substitute product upon acceptance by said consumer of said offering.
2. The method of claim 1 , wherein said consummating a sale comprises removing transaction data regarding said original product from pending sale data and substituting transaction data regarding said substitute product in said pending sale data.
3. The method of claim 2 wherein said transaction data includes at least one of: product price, product identifier and product UPC code.
4. The method of claim 1 , further comprising transmitting an identifier regarding said substitute product to said server.
5. The method of claim 1 , further comprising transmitting an identifier regarding said substitute product to a manufacturer of said substitute product.
6. The method of claim 1 wherein said transaction data comprises an original product identifier and a price.
7. The method of claim 1 wherein said original and substitute products have different manufacturers.
8. The method of claim 1 wherein one manufacturer manufactures both said original product and said substitute product.
9. The method of claim 1 wherein said offering comprises transmitting information regarding said substitute product to said consumer via at least one of: a printer, a display terminal and a speaker.
10. The method of claim 1 further comprising transmitting to said server inventory information of a potential substitute of said original product.
11. The method of claim 1 , wherein the consummating of the sale of said original product is further conducted if a retailer's transaction volume exceeds a predetermined threshold during a predetermined amount of time.
12. The method of claim 11 wherein consummating a sale of said original product occurs prior to said offering.
13. The method of claim 1 further comprising transmitting additional information to said server for determination of said possible substitute product, said additional information comprising at least one of: product profit margin information, product inventory information, product expiration date information, retail product price information, product floor price information, product sales information, sale and promotional pricing information, product demand information, product forecast information, product class information, product pricing information, and information regarding product features.
14. The method of claim 1 , further comprising:
identifying the manufacturer to receive the transaction data.
15. The method of claim 14 , wherein said manufacturer comprises plurality of manufacturers.
16. The method of claim 15 , wherein the information regarding the substitute product comprises substitute product offers from said plurality of manufacturers.
17. The method of claim 16 , further comprising selecting the offering of the substitute product as one of said substitute product offers from said plurality of manufacturers.
18. An apparatus for promoting a sale of a substitute product, comprising:
a storage device; and
a processor disposed in communication with the storage device, the storage device storing a program for controlling the processor, and the processor configured to:
receive transaction data regarding an original product presented for purchase by a consumer at a point of sale terminal;
transmit said transaction data from the point of sale terminal to a server of a manufacturer during a transaction session;
upon receipt of information regarding a substitute product from said server, transmit an offer of said substitute product to said consumer before the transaction session terminates;
consummate a sale of said original product if at least one of (a) no information regarding said substitute product is received from said server, and (b) said consumer declines said offering; and
consummate a sale of said substitute product upon acceptance by said consumer of said offering.