Image-Based Inventory Pricing for Marketplace Listing Automation
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Solution Overview
Problem
The process of listing items for sale on electronic marketplaces is cumbersome and resource-intensive, often deterring users due to time, processing, and bandwidth requirements, which can lead to missed opportunities for sellers and buyers.
Innovation Solution
A computer-implemented system that uses image recognition and analysis of electronic marketplace data to automatically identify and price objects for sale, simplifying the listing process by comparing images of items with pre-identified objects to determine pricing based on historical sales data.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If manual listing creation process is used, then users can create product listings, but it consumes substantial time, computer processing resources, and network bandwidth
Solution Approach 1:
The system performs preliminary actions by automatically capturing product information from retailer websites and email receipts before the user needs to list the item. Image recognition and data parsing are executed in advance to pre-populate listing details, eliminating the need for manual data entry during the listing creation process.
Solution Approach 2:
The system enables self-service by automatically generating product listings using image recognition technology and historical sales data from the electronic marketplace. The automated system processes images, identifies products, determines pricing based on similar items, and creates listings without requiring user intervention for data entry or formatting.
2Measurement precision
If manual listing creation process is used, then users can determine pricing, but it requires extensive searches and communications with websites
Solution Approach 1:
The system uses feedback from historical sales data of similar items on the electronic marketplace to automatically determine pricing. By analyzing completed transactions and current listings for comparable products, the system provides data-driven pricing recommendations that reflect actual market conditions, eliminating the need for users to manually search and compare prices across multiple websites.
Solution Approach 2:
The system acts as an intermediary between the user and the complex task of pricing research. Instead of requiring users to directly search multiple websites and synthesize pricing information, the automated system performs this intermediary function by querying the electronic marketplace database and presenting a synthesized pricing recommendation based on similar items.
3Productivity
If automated image recognition and pricing system is implemented, then listing process is simplified, but requires image processing and data analysis capabilities
Solution Approach 1:
The system replaces manual mechanical operations (typing, clicking, searching) with automated computational processes. Image recognition algorithms automatically analyze product images to identify items, while data processing systems query the electronic marketplace database to determine pricing, substituting human manual operations with automated digital processes that increase productivity despite requiring computational resources.
Data Source
AI summary
Disclosed herein are system, method, and computer program product embodiments for providing inventory ingestion and pricing system. An embodiment operates by determining an identification of a for sale object to be sold on an electronic marketplace. A set of items similar to the identification of the for sale object are identified from the marketplace. A price of each of at least a subset of the set of similar items that have sold through the electronic marketplace is determined. A sale price is generated for the for sale object based on the determined prices of the items of the subset. An image for one or more of the subset of items, is retrieved from the electronic marketplace. A market descriptor comprising the sale price and the retrieved one or more images is generated. The market descriptor for display is provided for display.