Device, system, and method of dynamic modification of sale terms of electronic transactions
View Patent ↗Device, system, and method of dynamic modification of sale terms of electronic transactions. For example, a system for electronic transactions includes a computer to store a set of sale terms associated with a product offered for sale, to receive a supply/demand alert associated with the product, to automatically modify one or more terms of the set of sale terms based on the supply/demand alert, and to provide to a client device the modified set of sale terms.
1. A system for electronic transactions, the system comprising:
a memory configured to store a set of sale terms associated with a product offered for sale; and
at least one processor configured to execute:
a fixed price transaction module configured to:
generate a fixed price transaction interface comprising the set of sale terms associated with the product offered for sale, and
transmit the fixed price transaction interface to a client for facilitating participation in a fixed price transaction route;
a modification determination module configured to:
receive a supply/demand alert associated with the product,
determine based on one or more pre-defined sale terms modification rules, the supply/demand alert associated with the product and one or more product filters, whether or not to modify one or more terms of the set of sale terms; and
dynamically transition from the fixed price transaction route to an online auction route based on one or more pre-defined auction generation rules and the supply/demand alert associated with the product;
an auction module configured to:
dynamically determine an auction opening price based on a calculation that takes into account a previous price of the product in the fixed-price transaction route;
automatically generate an online auction interface comprising the auction opening price and the modified one or more terms of the set of sale terms associated with the product offered for sale, and
transmit the online auction interface to the client for facilitating participation in the online auction route, and
in a case that the online auction route is not offered during the fixed price transaction route, a notification module configured to generate and transmit to the client an alert indicating the dynamic transition from the fixed price transaction route to the online auction route, the alert including a redirection mechanism to facilitate access to the online auction interface,
wherein the one or more product filters exclude at least a group of products from the modification process.
2. The system of claim 1 , wherein the supply/demand alert comprises an alert indicating high demand for the product based on one or more time-related conditions, and wherein the system comprises a time-based alert generator to generate said alert.
3. The system of claim 1 , wherein the supply/demand alert comprises an alert indicating high demand for the product based on one or more date-related conditions, and wherein the system comprises a date-based alert generator to generate said alert.
4. The system of claim 1 , wherein the supply/demand alert comprises an alert indicating high demand for the product based on one or more event-related conditions, and wherein the system comprises an event-based alert generator to generate said alert.
5. The system of claim 1 , wherein the supply/demand alert comprises an alert indicating increased demand for the product, and wherein the system comprises a demand calculator to generate said alert.
6. The system of claim 1 , wherein the supply/demand alert comprises an alert indicating low inventory for the product, and wherein the system comprises a low inventory alert generator to generate said alert.
7. The system of claim 1 , wherein the at least one processor further comprises:
a sale terms modifier module configured to modify one or more terms of the set of sale terms based on the one or more pre-defined sale terms modification rules.
8. The system of claim 7 , wherein the sale terms modifier module is further configured to transfer the product from the fixed-price transaction route to the online auction route.
9. The system of claim 7 , wherein the notification module is configured to generate and transmit the notification to a plurality of clients that one or more of the set of sale terms for the product are modified.
10. A method for electronic transactions, the method comprising:
storing a set of sale terms associated with a product offered for sale;
generating, by a processor, a fixed price transaction interface comprising the set of sale terms associated with the product offered for sale,
transmitting, by the processor, the fixed price transaction interface to a client for facilitating participation in a fixed price transaction route;
receiving, by the processor, a supply/demand alert associated with the product;
determining, by the processor, whether or not to modify one or more terms of the set of sale terms, based on the supply/demand alert, based on one or more pre-defined sale terms modification rules, and based on one or more product filters;
dynamically transitioning, by the processor, from the fixed price transaction route to an online auction route based on one or more pre-defined auction generation rules and the supply/demand alert associated with the product;
dynamically determining, by the processor, an auction opening price based on a calculation that takes into account a previous price of the product in the fixed-price transaction route;
automatically generating, by the processor, an online interface comprising the auction opening price and the modified one or more terms of the set of sale terms associated with the product offered for sale; and
in a case that the online auction route is not offered during the fixed price transaction route, generating and transmitting to the client an alert indicating the dynamic transition from the fixed price transaction route to the online auction route, the alert including a redirection mechanism to facilitate access to the online auction interface,
wherein the one or more product filters exclude at least a group of products from the modification process.
11. The method of claim 10 , wherein receiving the supply/demand alert comprises:
receiving, by the processor, an alert indicating high demand for the product based on one or more time-related conditions.
12. The method of claim 10 , wherein receiving the supply/demand alert comprises:
receiving, by the processor, an alert indicating high demand for the product based on one or more date-related conditions.
13. The method of claim 10 , wherein receiving the supply/demand alert comprises:
receiving, by the processor, an alert indicating high demand for the product based on one or more event-related conditions.
14. The method of claim 10 , wherein receiving the supply/demand alert comprises:
receiving, by the processor, an alert indicating increased demand for the product.
15. The method of claim 10 , wherein receiving the supply/demand alert comprises:
receiving, by the processor, an alert indicating low inventory for the product.
16. The method of claim 10 , comprising:
modifying, by the processor, one or more terms of the set of sale terms based on the supply/demand alert and the one or more pre-defined sale terms modification rules.
17. The method of claim 16 , wherein modifying comprises:
transferring, by the processor, the product from the fixed-price transaction route to the online auction route.
18. A computer program product comprising a computer useable medium including a computer readable program, the computer useable medium not being a signal and the computer readable program when executed on a computer causes the computer to perform a method comprising:
storing a set of sale terms associated with a product offered for sale;
generating a fixed price transaction interface comprising the set of sale terms associated with the product offered for sale,
transmitting the fixed price transaction interface to a client for facilitating participation in a fixed price transaction route;
receiving a supply/demand alert associated with the product;
determining whether or not to modify one or more terms of the set of sale terms, based on the supply/demand alert, based on one or more pre-defined sale terms modification rules, and based on one or more product filters,
dynamically transition from the fixed price transaction route to an online auction route based on one or more pre-defined auction generation rules and the supply/demand alert associated with the product; automatically generating an online interface comprising the auction opening price and the modified one or more terms of the set of sale terms associated with the product offered for sale; and
in a case that the online auction route is not offered during the fixed price transaction route, generating and transmitting to the client an alert indicating the dynamic transition from the fixed price transaction route to the online auction route, the alert including a redirection mechanism to facilitate access to the online auction interface, wherein the one or more product filters exclude at least a group of products from the modification process.
19. A system for online transactions, the system comprising:
a product database to store a set of sale terms associated with a product offered for sale in a fixed-price transaction route;
a supply/demand alert generator to generate a supply/demand alert associated with the product, the supply/demand alert selected from the group comprising:
an alert indicating increased demand for the product; and
an alert indicating low inventory for the product;
and
an electronic commerce server comprising a processor configured to:
generate a fixed price transaction interface comprising the set of sale terms associated with the product offered for sale,
transmit the fixed price transaction interface to a client for facilitating participation in a fixed price transaction route;
receive a supply/demand alert associated with the product;
determine whether or not to modify one or more terms of the set of sale terms, based on the supply/demand alert, based on one or more pre-defined sale terms modification rules, and based on one or more product filters;
dynamically transition from the fixed price transaction route to an online auction route based on one or more pre-defined auction generation rules and the supply/demand alert associated with the product;
dynamically determine an auction opening price based on a calculation that takes into account a previous price of the product in the fixed-price transaction route;
automatically generate an online interface comprising the auction opening price and the modified one or more terms of the set of sale terms associated with the product offered for sale; and
in a case that the online auction route is not offered during the fixed price transaction route, generate and transmit to the client an alert indicating the dynamic transition from the fixed price transaction route to the online auction route, the alert including a redirection mechanism to facilitate access to the online auction interface,
wherein the one or more product filters exclude at least a group of products from the modification process.
20. The system of claim 1 , wherein the auction module is further configured to adjust a time period of the online auction route based on the supply/demand alert.