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System and method of socially monitoring and sharing purchase history of consumers

IP.com Disclosure Number: IPCOM000225264D
Publication Date: 2013-Feb-05
Document File: 3 page(s) / 40K

Publishing Venue

The IP.com Prior Art Database

Abstract

Disclosed is new social network, called Shopbook, which allows users to automatically share and view, in real time, information about purchases made at retail stores that are linked to Shopbook through users’ accounts.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 52% of the total text.

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System and method of socially monitoring and sharing purchase history of consumers

Retail companies offer customer loyalty cards that provide savings and promotions (e.g., with the card at checkout or with coupons). One can only assume that these companies collect all the purchase data and use it to determine purchase trends or send personalized coupons to the cardholder. Purchase trends might lead to layout changes in the store or offering of new coupons of similar interest. Personalized coupons are both a nice way to encourage the customer to be a returning customer and to make the customer happy by providing discounts on items the customer uses. While these uses of the purchase data benefit the stores and the individual customer, this data has a much more influential purpose.

In social networks today, most of, if not all of what a user shares with others is initiated by the user (e.g., update status, add pictures, add links, comments, likes, pokes, etc.) Social networks are not specifically intended or designed to share users' spending habits or product preferences, but user can manually post information to that effect or click links to indicate opinions.

This invention proposes an easier method of sharing this type of user information. All

companies that collect purchasing data can allow that data to be searchable, thus creating an enormous amount of useful information available to social networks, other companies, governments, inventors, etc. Companies and organizations can collection this information and allow it to be made public (with the consumer's permission). Making this information available allows users to see purchases that other consumers (e.g., friends or colleagues) made, and can possibly persuade shoppers to make similar purchases.

One embodiment is to create an entire new social network, called 'Shopbook'. A user

can register on this site and establish a profile. The user decides how to share purchase information: anonymously, only to fellow Shopbookers, with everyone, or some other gro...