Determining pricing information from merchant data
A service provider may receive item price information and/or point of sale (POS) transaction information from a plurality of merchant devices associated with a plurality of merchants. The service provider may categorize the plurality of merchants according to the types of items offered by the respective merchants, and may further categorize the merchants according to the locations at which they conduct business. The service provider may subsequently determine a price recommendation or other pricing information for a particular item offered by a particular merchant. A merchant device of the particular merchant may present the pricing information in a user interface that enables the merchant to view projected sales at various different price points. Further, the merchant may be able to specify one or more factors used for determining the recommend price, such as a desired business model, a desired clientele, a desired profit margin, or the like.
1 . A method comprising:
receiving, by a merchant device of a merchant and from one or more servers of a payment processing service (PPS), pricing information for an item;
causing presentation, via a first user interface of a display associated with the merchant device, of information associated with the item;
receiving, via the first user interface, first input indicating a request for a pricing recommendation for the item;
based at least in part on the pricing information, determining first estimated sales of the item in a period at a first price;
causing presentation of a second user interface overlaid onto the first user interface, wherein the second user interface is temporarily available for a predetermined amount of time and displays one or more interactive graphic elements, the one or more interactive graphic elements indicating at least the first price of the item and the first estimated sales;
receiving, via the second user interface, second input to at least one of the one or more interactive graphic elements, wherein the second input changes one or more parameters associated with the item to updated parameters, and wherein the one or more parameters comprise buyer characteristics including demographics or shopping habits;
responsive at least in part to receiving the second input and based at least in part on the pricing information, determining second estimated sales of the item in the period at a second price;
causing presentation, via the second user interface of the one or more interactive graphic elements, the one or more interactive graphic elements indicating at least the second price and the second estimated sales;
receiving, via the second user interface, third input to at least one of the one or more interactive graphic elements indicating a selection of the first price or the second price;
reconfiguring the first user interface to cause a price associated with the item to update;
sending, by the merchant device and to the one or more servers of the PPS, an indication of the selection of the first price or the second price;
in response to the indication, updating pricing information associated with the item by the one or more servers of the PPS; and
automatically closing the second user interface after an elapse of the predetermined amount of time.
2 . The method of claim 1 , wherein the one or more interactive graphic elements comprise a first graphic element comprising a slider scale including a slider element, and wherein the second input comprises sliding the slider element along the slider scale from a first position associated with the first price to a second position associated with the second price.
3 . The method of claim 1 , wherein the updated parameters further comprise a new location associated with the merchant or the item, and wherein determining the second estimated sales is based at least in part on the new location.
4 . The method of claim 1 , wherein the pricing information further includes a recommended price generated by the PPS, and wherein the first price comprises the recommended price.
5 . The method of claim 4 , wherein the recommended price for the item is based at least in part on one or more of:
a business model of the merchant;
a profit margin specified by the merchant;
a pricing strategy of the merchant;
a volume of sales specified by the merchant;
a cost of the item to the merchant;
characteristics of customers of the merchant;
a location of the merchant;
a merchant category of the merchant; or
an average or median price charged for the item by a plurality of merchants.
6 . The method of claim 1 , wherein the pricing information is received responsive at least in part to one or more of:
a request sent to the one or more servers of the PPS; or
a trigger determined by the one or more servers of the PPS, wherein the trigger comprises one or more of a first change in customer base of the merchant, a second change in one or more costs associated with the merchant, a third change in a market associated with the merchant, or an initiation of a business by the merchant.
7 . The method of claim 1 , further comprising:
causing presentation, via the second user interface, of a selectable icon associated with price assignment;
receiving an indication of a selection of the selectable icon;
based at least in part on receiving the indication of the selection of the selectable icon, causing a selected price associated with an interactive graphic element to be associated with the item in memory of the merchant device; and
assigning, by a merchant application executing on the merchant device, the selected price to the item in a purchase of the item from the merchant.
8 . A system comprising:
one or more processors; and
one or more non-transitory computer-readable media storing instructions, that when executed by the one or more processors, cause the one or more processors to perform operations comprising:
receiving, by a merchant device of a merchant and from one or more servers of a payment processing service (PPS), information for an item;
causing presentation, via a first user interface of a display associated with the merchant device, of the information associated with the item;
receiving, via the first user interface, first input indicating a request for a pricing recommendation for the item;
based at least in part on the information, determining first estimated sales of the item at a first price;
causing presentation of a second user interface overlaid onto the first user interface, wherein the second user interface is temporarily available for a predetermined amount of time and displays one or more interactive graphic elements, the one or more interactive graphic elements indicating at least the first price of the item and the first estimated sales;
receiving, via the second user interface, second input to at least one of the one or more interactive graphic elements, wherein the second input changes one or more parameters associated with the item to updated parameters, and wherein the one or more parameters comprise buyer characteristics including demographics or shopping habits;
responsive at least in part to receiving the second input and based at least in part on the information, determining second estimated sales of the item at a second price;
causing presentation, via the second user interface, of the one or more interactive graphic elements, the one or more interactive graphic elements indicating at least the second price and the second estimated sales;
receiving, via the second user interface, third input to at least one or the one or more interactive graphic elements indicating a selection of the first price or the second price;
reconfiguring the first user interface to cause a price associated with the item to update;
sending, by the merchant device and to the one or more servers of the PPS, an indication of the selection of the first price or the second price;
in response to the indication, updating pricing information associated with the item by the one or more servers of the PPS; and
automatically closing the second user interface after an elapse of the predetermined amount of time.
9 . The system of claim 8 , wherein the one or more interactive graphic elements comprise a first graphic element associated with specifying characteristics of one or more buyer and a second graphic element associated with a location associated with the merchant.
10 . The system of claim 9 , wherein changing the one or more parameters comprises receiving the second input to the first graphic element, the second input comprising changing one or more characteristics associated with one or more buyers, and wherein determining the second estimated sales is based at least in part on the one or more characteristics.
11 . The system of claim 9 , wherein changing the one or more parameters comprises receiving the second input to the second graphic element, the second input comprising selection of a new location associated with the merchant or the item, and wherein determining the second estimated sales is based at least in part on the new location.
12 . The system of claim 8 , wherein the information further includes a recommended price generated by the PPS, and wherein the first price comprises the recommended price.
13 . The system of claim 12 , wherein the recommended price for the item is based at least in part on one or more of:
a business model of the merchant;
a profit margin specified by the merchant;
a pricing strategy of the merchant;
a volume of sales specified by the merchant;
a cost of the item to the merchant;
characteristics of customers of the merchant;
a location of the merchant;
a merchant category of the merchant; or
an average or median price charged for the item by a plurality of merchants.
14 . The system of claim 8 , wherein the information is received responsive at least in part to one or more of:
a request sent to the one or more servers of the PPS; or
a trigger determined by the one or more servers of the PPS, wherein the trigger comprises one or more of a first change in customer base of the merchant, a second change in one or more costs associated with the merchant, a third change in a market associated with the merchant, or an initiation of a business by the merchant.
15 . The system of claim 8 , the operations further comprising:
causing presentation, via the second user interface, of a selectable icon associated with price assignment;
receiving an indication of a selection of the selectable icon;
based at least in part on receiving the indication of the selection of the selectable icon, causing a selected price associated with an interactive graphic element to be associated with the item in memory of the merchant device; and
assigning, by a merchant application executing on the merchant device, the selected price to the item in a purchase of the item from the merchant.
16 . One or more non-transitory computer-readable media maintaining instructions that, when executed by one or more processors, program the one or more processors to perform operations including:
receiving, by a merchant device of a merchant and from one or more servers of a payment processing service (PPS), information for an item;
causing presentation, via a first user interface of a display associated with the merchant device, of the information associated with the item;
receiving, via the first user interface, first input indicating a request for a pricing recommendation for the item;
based at least in part on the information, determining first estimated sales of the item at a first price;
causing presentation of a second user interface overlaid onto the first user interface, wherein the second user interface is temporarily available for a predetermined amount of time and displays one or more interactive graphic elements, the one or more interactive graphic elements indicating at least the first price of the item and the first estimated sales;
receiving, via the second user interface, second input to at least one of the one or more interactive graphic elements, wherein the second input changes one or more parameters associated with the item to updated parameters, and wherein the one or more parameters comprise buyer characteristics including demographic s or shopping habits;
responsive at least in part to receiving the second input and based at least in part on the information, determining second estimated sales of the item at a second price;
causing presentation, via the second user interface, of the one or more interactive graphic elements, the one or more interactive graphic elements indicating at least the second price and the second estimated sales;
receiving, via the second user interface, third input to at least one or the one or more interactive graphic elements indicating a selection of the first price or the second price;
reconfiguring the first user interface to cause a price associated with the item to update;
sending, by the merchant device and to the one or more servers of the PPS, an indication of the selection of the first price or the second price;
in response to the indication, updating pricing information associated with the item by the one or more servers of the PPS; and
automatically closing the second user interface after an elapse of the predetermined amount of time.
17 . The one or more non-transitory computer-readable media of claim 16 , wherein the information further includes a recommended price generated by the PPS, and wherein the first price comprises the recommended price.
18 . The one or more non-transitory computer-readable media of claim 16 , wherein the one or more interactive graphic elements comprise a first graphic element associated with specifying characteristics of one or more buyer and a second graphic element associated with a location associated with the merchant.
19 . The method of claim 1 , wherein the demographics comprise one or more of buyer residence information, buyer age range, buyer sex, buyer affluence, buyer ethnicity, buyer language, buyer education, buyer marital status, buyer occupation, buyer religion, buyer political affiliation, or buyer memberships in associations.
20 . The method of claim 1 , wherein the shopping habits comprise one or more of type of items that a buyer purchases, a time of day and week day on which past purchases have been made, categories of merchants at which the buyer shops, or average amount spent per transaction.