Commerce System Optimizing Shopping Lists via Weighted Product Scores
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Solution Overview
Problem
Consumers lack access to comprehensive, reliable, and objective product information, making it difficult for them to compare prices and features across retailers, leading to suboptimal purchasing decisions and an uneven playing field against retailers who possess historical transaction data.
Innovation Solution
A commerce system that allows consumers to create a shopping list with weighted product attributes, determines a baseline product value, and calculates a consumer-weighted product value to optimize the list, providing individualized discounts and recommendations based on product scores, enabling informed purchasing decisions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If consumers rely on retailer-sponsored product information, then the information is readily available and easy to access, but the information is subjective and incomplete, favoring the retailer's interests
Solution Approach 1:
The patent introduces a third-party information aggregator that collects product information from multiple retailers and presents it in a neutral, comparative format. This intermediary service provides consumers with comprehensive product data including pricing, features, and availability across different retailers, eliminating the need to rely on single-retailer sponsored information while maintaining ease of access through centralized online platforms.
2Loss of information
If consumers visit all retailers to gather product information, then comprehensive and objective information can be obtained, but the time and effort required becomes impractical
Solution Approach 1:
The patent implements pre-aggregated product information databases that compile pricing, product specifications, and availability data from multiple retailers before consumers need it. Online comparison tools and mobile applications automatically update and organize this information, allowing consumers to access comprehensive comparative data instantly without having to physically visit or contact multiple retailers.
Solution Approach 2:
The patent creates digital copies and representations of product information from various retailers, presenting them in standardized formats through online platforms. These digital copies include product specifications, pricing, and availability data that can be compared side-by-side, eliminating the need for consumers to collect physical catalogs or visit stores while maintaining complete and objective information.
3Productivity
If retailers maximize sales and profits, then retailer revenue increases, but consumers face higher prices and reduced competitive advantage
Solution Approach 1:
The patent implements feedback mechanisms where consumer purchasing data and price comparisons are aggregated and fed back to retailers and manufacturers. This information allows for dynamic pricing adjustments, promotional optimizations, and inventory management that can increase overall market efficiency. The system enables consumers to access this feedback loop through comparison tools that show real-time pricing and availability, allowing them to benefit from competitive pressures while retailers can optimize their sales strategies based on aggregated market data.
Data Source
AI summary
A commerce system involves transactions between manufacturers, distributors, retailers, and consumers. Product information for a plurality of products is collected and stored in a database. A website is provided for a consumer to create a shopping list with weighted product attributes. A baseline product value is determined for each of the products. A consumer weighted product value is determined based on the baseline product value and the weighted product attributes. A discounted offer is generated for the consumer. A product score is determined based on the consumer weighted product value and retailer product value. The shopping list is optimized based on the product score. The optimized shopping list is provided to the consumer to assist with purchasing decisions. Purchasing decisions within the commerce system are controlled by enabling the consumer to select the products for purchase based on the optimized shopping list.