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Business Model: A locked-in price for an item sitting in a Web Shopping Cart

IP.com Disclosure Number: IPCOM000131776D
Original Publication Date: 2005-Nov-18
Included in the Prior Art Database: 2005-Nov-18
Document File: 2 page(s) / 27K

Publishing Venue

IBM

Abstract

What is proposed is a business model which allows the user or the web site merchant to set up a guaranteed timeframe where selected items stay at a set price.

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Business Model: A locked-in price for an item sitting in a Web Shopping Cart

There are several benefits of web shopping over that of physical, personal shopping:
1) no taxes
2) free shipping in some cases
3) a (virtual) shopping cart that remains "in memory"

What is meant by (3) is that one can create a shopping cart of items, leave it in one's "account" on the web page and then purchase those items at a later date. Additionally, one can add or delete items at that later, eventual purchase date. There are many online merchants that offer these virtual shopping carts. However, there is one flaw in this business model. Previously, these online merchants may have experienced price changes and shoppers weren't aware of these changes until undergoing the purchase transaction. And even then, one would only be aware of a price increase if one could remember the previous price. One realizes that over time, the price of a merchant's stock may rise due to inflationary forces.

However, some online merchants have started telling users of price increases. When one enters some online merchant sites, one may receive notices of recent price increases in virtual items residing in the virtual shopping cart. There may be a possible, legal reason behind this warning, but now the shopper has the option to "opt-out" of items sitting in one's shopping cart. But, there could be a compromise solution that would be beneficial to both the online merchant and the user.

There are two versions of this business model. One model is client-friendly (the user) and one model is server-friendly (the merchant).

The client-frien...