WO2017201215A1

WO2017201215A1 - System

Info

Publication number: WO2017201215A1
Application number: PCT/US2017/033194
Authority: WO
Inventors: Tori COLE
Original assignee: The Cole Group
Priority date: 2016-05-17
Filing date: 2017-05-17
Publication date: 2017-11-23

Abstract

A system is disclosed which delivers recommendations to a retailer for dynamic price adjustments. A system is disclosed comprising, an electronic label, a hardware infrastructure, and a software system. A method is disclosed to calculate, control, and display price, and to sell a product using an electronic label, mobile devices, a base station, and a POS server.

Description

System

CROSS-REFERENCE TO RELATED APPLICATIONS

[0001] This application is a PCT international patent application which claims the benefit of U.S. provisional patent application serial number 62/337,545, filed May 17, 2016, U.S. Provisional Application serial number 62/380,405 filed August

27, 2016, and U.S. Provisional Application serial number 62/414, 1 12 filed October

28, 2016, the disclosures of each are expressly incorporated by reference.

TECHNICAL FIELD

[0002] The disclosure relates to a dynamic pricing system. BACKGROUND

[0003] With the trend to self-service marketing of food and grocery, personal care, hardware and other products, control and display of pricing has assumed increasing importance. From the consumer's point of view, it is necessary that he or she be fully and accurately informed of the price of an item selected, at the time of selection, and that the same price is charged at the point of sale (POS).

[0004] The merchant has even more compelling reasons to insure pricing consistency and accuracy at the shelves and at the POS. The retailer must satisfy the customers and maintain prices to keep pace with the competition and costs to insure a reasonable profit. The merchant must also comply with the laws pertaining to providing accurate price information to consumers.

[0005] The development and widespread use of modern point of sale (POS) terminals at checkout counters, while of obvious benefit in a number of ways to merchant and consumer, has served to focus on the shortcomings of price marking techniques. In commonly employed POS terminals a scanner scans a uniform product bar code, looks up the uniform product code in a database, and charges the corresponding price to the customer.

[0006] Until recently, products were either "item priced", i.e. each unit marked with its actual price by stamp or label, or "shelf priced", i.e. the price of a given item is shown by a printed label attached to the shelf adjacent to the item. In some retail settings each item is priced by both means. But both techniques are labor intensive and costly, as well as being subject to a variety of human errors. For example, in stores employing POS terminals with prices set by computer coupled to the terminal, it often occurs that the item or shelf price differs from the price charged at the POS terminal; this may be caused by mismarking, or by failure to update a POS price change at the shelf. A customer confronted with a different price at the POS terminal is understandably annoyed and adverse business or regulatory consequences may follow. Indeed, some states and localities impose penalties upon the event of a POS terminal charging a price differing from that marked on or near the product. Other states and localities require that in any establishment employing POS terminals there must be price information at or near the merchandise, and in some areas the permitted distance between product and price is quite small. In recent years, a number of efforts have been made to join the modern computerized POS system with shelf pricing systems, so that prices indicated at checkout counters are, with high reliability, identically indicated at the shelf at which the product is displayed.

[0007] Numerous systems have been proposed for displaying continuously updatable prices in retail stores. The benefits flowing from installation of a viable, workable system would be many. Prices could be displayed for each of the many products for sale, and the price, electronically displayed, could be made to match with high reliability the price generated when the product is scanned by a product code scanner. Sales could be posted, and later cleared, with a minimal labor cost as compared to the common manual method of physically marking and remarking the prices on sale items. Store-wide sales, whether tied to day of the week or other events of business importance, could be posted, and later cleared, almost as easily as sales on particular items.

[0008] Most proposed electronic pricing systems have suffered, however, from numerous drawbacks. The reliability of some systems has tended to be too low, and the cost too high. Among the most vexing problems is the failure of electronic display technologies to satisfy all the product price markings in a typical retail setting. Many proposed electronic pricing systems offer their intended benefits only if all or nearly all product locations are amenable to installation of electronic price display devices. But experience shows that existing proposed electronic pricing systems, without more, fail to provide their intended benefits where a substantial portion of the products for sale are inconsistent with electronic display devices.

[0009] When the time comes to change a price, a retail store may post new printed prices that are printed off-site, such as at a central data processing site for the chain to which the retail store belongs. This induces substantial delays because the new printed prices must be physically delivered, and makes it difficult to synchronize the posting of the new printed price with the updating of the electronically displayed price.

SUMMARY OF THE INVENTION

[0010] The concept of Precise Price Technology e-labels came when the inventor was in the process of studying the decline of traditional brick-and-mortar retail stores for her MBA class. She concluded that while many of these stores have an online presence, most apparel consumers (especially women) would prefer to come to the store to try on clothing before making the purchase. The problem is that most retail experiences are time and energy consuming for busy parents, many of whom were accompanied by small, increasingly inpatient children. She also noticed that the greatest expenses for the retailer result from inventory carrying and control costs.

[0011] Consumer shopping experience can be improved by purchasing directly from point of pricing display via scanning the digital price adhesive tag with a smartphone. A receipt is sent directly to the consumer's email address and the transaction is completed without the hassle of waiting in line.

[0012] The retailer saves time, money, and resources with digital price tags that automatically adjust pricing with the quantities of supply and demand while securing inventory control with digital RFID security. [0013] In one aspect of the invention, the system comprises a software which delivers recommendations to a retailer for price adjustments.

[0014] The Precise Price system bridges a retailer's existing supply chain and marketing process with software and wireless technologies to provide solutions and management tools that enhance in-store efficiency. Precise Price is a strategic weapon in price positioning, inventory management, and profit optimization. Precise Price utilizes existing radio frequency identification, security systems, and software to offer a unique solution for retailers that increase revenues and decreases cost.

BRIEF DESCRIPTION OF THE DRAWINGS

[0015] The above-mentioned and other features of this disclosure, and the manner of attaining them, will become more apparent and the disclosure itself will be better understood by reference to the following description of embodiments of the disclosure taken in conjunction with the accompanying drawings, wherein:

[0016] Figure 1 illustrates a schematic showing the problems the system solves for a retailer.

[0017] Figure 2 illustrates a schematic showing the problems the system solves for a consumer.

[0018] Figure 3 illustrates a schematic showing the electronic label components of the system according to an embodiment of the system and provides an example electronic label.

[0019] Figure 4 illustrates a schematic showing how system works according in an embodiment of the disclosure.

[0020] Figure 5 illustrates a schematic showing E-Smart Sticker and E-Smart Clip labels according to embodiments of the system according to an embodiment of the disclosure.

[0021] Figure 6 illustrates a schematic showing E-Smart Clip labels according to an embodiment of the disclosure. [0022] Figure 7 illustrates a schematic of retailer mobile application functions according to embodiments of the system according to an embodiment of the disclosure.

[0023] Figure 8 illustrates a schematic of add or edit item screen on retailer mobile application according to embodiments of the system according to an embodiment of the disclosure.

[0024] Figure 9 illustrates a schematic of search item screens on retailer mobile application according to embodiments of the system according to an embodiment of the disclosure.

[0025] Figure 10 illustrates a schematic of analyze screens on retailer mobile application according to embodiments of the system according to an embodiment of the disclosure.

[0026] Figure 1 1 illustrates a schematic of employee profile screens on retailer mobile application according to embodiments of the system according to an embodiment of the disclosure.

[0027] Figure 12 illustrates a schematic of compare screens on a commercial mobile application according to embodiments of the system according to an embodiment of the disclosure.

[0028] Figure 13 illustrates a schematic of purchase screens on a commercial mobile application according to embodiments of the system according to an embodiment of the disclosure.

[0029] Figure 14 illustrates another schematic of purchase screens on a commercial mobile application according to embodiments of the system according to an embodiment of the disclosure.

[0030] Figure 15 illustrates a schematic of cancel screens on a commercial mobile application according to embodiments of the system according to an embodiment of the disclosure. [0031] Figure 16 illustrates a schematic of wishlist screens on a commercial mobile application according to embodiments of the system according to an embodiment of the disclosure.

[0032] Figure 17 illustrates a schematic of account screens on a commercial mobile application according to embodiments of the system according to an embodiment of the disclosure.

[0033] Figure 18 illustrates a schematic of shopping station according to an embodiment of the system according to an embodiment of the disclosure.

[0034] Figure 19 illustrates a schematic showing the system process according to an embodiment of the present disclosure.

[0035] Figure 20 illustrates a schematic showing the system changing pricing to optimize profit when demand exceeds supply.

[0036] Figure 21 illustrates a schematic showing the system changing pricing to maximize inventory control when demand does not exceed supply.

[0037] Figure 22A illustrates a schematic of a plastic price e-tag with an electromagnetic tie according to an embodiment of the disclosure.

[0038] Figure 22B illustrates a schematic of an electromagnetic cup e-tag according to an embodiment of the disclosure.

[0039] Figure 22C illustrates a schematic of an adhesive sticker e-tag according to an embodiment of the disclosure.

[0040] Figure 23 illustrates a schematic showing components of the plastic price e-tag with an electromagnetic tie of Figure 22A.

[0041] Figure 24A illustrates a schematic showing a disabled (OFF) plastic price e-tag according to an embodiment of the disclosure.

[0042] Figure 24B illustrates a schematic showing an enabled (ON) plastic price e-tag according to an embodiment of the disclosure. [0043] Figure 24C illustrates a schematic showing an enabled (PURCHASED) plastic price e-tag according to an embodiment of the disclosure.

[0044] Figure 24D illustrates a schematic showing a price e-tag according to an embodiment of the disclosure.

[0045] Figure 25A illustrates a schematic of an adhesive sticker e-tag according to an embodiment of the disclosure.

[0046] Figure 25B illustrates a schematic showing a disabled (OFF) adhesive sticker e-tag according to an embodiment of the disclosure.

[0047] Figure 25C illustrates a schematic showing an enabled (ON) adhesive sticker e-tag according to an embodiment of the disclosure.

[0048] Figure 25D illustrates a schematic showing an enabled (PURCHASED) adhesive sticker e-tag according to an embodiment of the disclosure.

[0049] Figure 26 illustrates a schematic of the system according to an embodiment of the present disclosure.

[0050] Corresponding reference characters indicate corresponding parts throughout the several views. Although the drawings represent embodiments of the present disclosure, the drawings are not necessarily to scale and certain features may be exaggerated in order to better illustrate and explain the present disclosure.

DETAILED DESCRIPTION OF THE EXEMPLARY EMBODIMENTS

[0051] The embodiments disclosed below are not intended to be exhaustive or limit the disclosure to the precise forms disclosed in the following detailed description. Rather, the embodiments are chosen and described so that others skilled in the art may utilize their teachings.

[0052] The Precise Price system can help to solve the problems of both the consumer and the retailer. The Precise Price system bridges a retailer's existing supply chain and marketing process with software and wireless technologies to provide solutions and management tools that enhance in-store efficiency. The Precise Price system is a strategic weapon in price positioning, inventory management, and profit optimization.

[0053] The Precise Price system utilizes a differentiated strategy that is the basis of our business. Utilizing existing Radio Frequency Identification and security systems with our software, we offer a unique solution for retailers that increase revenues and decreases cost.

[0054] Overview of System

[0055] Retailers are challenged to forecast price using the economic laws of supply and demand. Poor price forecast results in profit loss. The pricing dilemma is affected by inventory control and costly manpower. Consumers are also challenged to find the lowest price. Paper and internet coupons offer additional means to reduce price. But often customers are too busy to find coupons, or they do not want to search through emails, or they are they do not have enough time to wait in line.

[0056] The Precise Price system balances the demand effect and the supply effect. As quantity demand presses or as quantity supply presses, the Precise Price software delivers recommendations to the client for price adjustments. The Precise Price system increases total profits with lean inventory management by balanced pricing, completely controlling inventory, promoting strategic marketing, and streamlining the supply chain process.

[0057] There are several benefits of electronic pricing including price integrity and forecast decision making, automatic pricing adjustments and inventory control, inventory management and flexible pricing, and sustainability. Specifically, price integrity and forecast decision making allow a retailer to stop making monthly pricing guesses. Instead the retailer can make informed pricing decisions based on real time sales data. The automatic pricing adjustments & inventory control boost worker productivity, and save human resource costs for security, inventory control, & recovery. Inventory management & flexible pricing save the retailer inventory carrying costs. Sustainability is improved because waste costs due to paper usage are reduced. The retailer can also benefit from unique tax credits due to United States Federal Government initiatives and Business Tax Cuts.

[0058] Components of System

[0059] The Precise Price system solves retailers' problems with a suite of end-to-end solutions including electronic labels, hardware infrastructure, proprietary software, and consulting. The electronic labels include a e-smart adhesive and EM label for individual products that is sleek and lightweight, and a e-shelf label for mounting to apparel or individual items. Hardware infrastructure is a network of internal wireless cloud smart devices with point-of-system integration. The software suite is comprised of modules for back-office management, reporting, security, mobile, shopping, and pricing. Consulting includes custom software development, project management and support, business analysis and support, and technical support.

[0060] Radio frequency and near-field communication is used to update upon command the electronic labels and mobile application. The mobile application is a software as a solution cloud based application that is connected to the internet. The mobile application updates the precise price software upon command. A base station uses the wireless internet or a local area network to access the precise price software. The base station updates the precise price label upon command. The base station also communicates with point-of-sale (POS) severs. The POS servers are updated daily by the precise price software. Radio frequency and near-field communication is also used by the customer's mobile device to access the internet. The customer's mobile device uses the internet to connect to the POS server in order to purchase the product.

[0061] Electronic Labels

[0062] Precise Price utilizes electronic labels including electronic paper shelf display label, electronic paper display label and clip, and an adhesive electronic paper label. The E-smart sticker label is an easy stick and go label that can be customized in size to fit on almost any security tag. The E-smart clip label is an easy clip and go label that can be customized in size to fit on almost any security tag. The label clips to current security tags, and the clip is strong and tamper proof. There is no need to change current security systems or buy new tags.

[0063] The electronic labels are segmented with item title, item description, apparel item size, price, barcode, and SKU number. The electronic label incorporates near filed communication technology compatible with major smart phone applications, such as the Apple Pay in iPhone 6, iOS 8, and later versions. The electronic labels are automatically updated through wireless transmitters. The electronic labels are flexible, the sleek e-paper design provides multi-stable liquid crystal display for optimal reading & viewing. RFID technology provides security & tracking feature for inventory control. The electronic labels are reusable, solar powered, and recyclable.

[0064] E-SMART Adhesive label is a digital label backed with bond adhesive that can be customized in size to fit on almost any security tag. The screen is updated through wireless frequency network and NFC technology. The bond glue adhesive is tamper proof. The e-smart adhesive label can also be affixed to a shelf or object.

[0065] The E-smart clip label is an electronic paper dual electromagnetic clip label. The E-smart clip label is comprised of an electronic label containing a battery; an electromagnetic clip containing hinges so that the clip can adjust to the accommodate the security tag, a L2 armature plate, and a L1 armature plate; and a L1 magnetic key. The L2 RSA digital key for store managers is in a software module.

[0066] As illustrated in Figure 35, the electronic tag may also be a plastic price e-tag with electromagnetic lock. The plastic price e-tag features plastic tags with e-paper integration and electromagnetic locks to current security tags. The electromagnetic lock is strong and tamper proof. As shown in Figure 37, the electronic tag may convey product status as disabled (OFF), enabled (ON) or enabled (PURCHASED).

[0067] Hardware Infrastructure [0068] Hardware components include mobile devices, a base station, and a POS sever.

[0069] The checkout process comprises the consumer paying for the purchase with the mobile app. Upon payment, the customer will receive a receipt with a QR code. Then the consumer uses the unlock checkout station to scan receipt and item, and then disable, unlock, and remove tag from item. The Checkout machine will only unlock the tag once the item is scanned and the machine detects that it is paid for.

[0070] The Precise Price system utilizes software modules for reporting, pricing, retailer mobile, security, back-office management, and e-commerce. The reporting module enables statistical reporting of promotion, product, price and supply chain management data, and provides recommendations for future pricing. The pricing module enables the integration of existing data systems for automated pricing and discount calculations depending on real time changes in demand for individual items. The retailer mobile is a cloud module that enables price changes and security alerts via mobile devices and hand-held terminals. The security module enables integration of security systems, providing complete inventory control, digital security alerts, and radio frequency identification tracking. Back office management is facilitated via the client-server module that enables seamless integration of near-field communication tags with existing management software for complete financial and inventory management. The e-commerce module enables integration with shopping web systems for the complete customer service experience. Customers can buy discounted items directly from their smart devices, without the need to wait in line.

[0071] The Reporting software module features Full Sales & Marketing KPI Dashboard that details the spending trends of customers with respect to location, price, inventory, and marketing channel.

[0072] The Back-Office Management software module features include a Financial dashboard of sales, revenue, & profit per inventory SKU number or inventory category, and a Sales and revenue per marketing channel (integrated with web platform and mobile application). [0073] The Security software module features include RFID Tracking of enabled NFC tags, Battery status of enabled NFC tags, Inventory Tracking, Security breach alerts, Number of total NFC tags in the store, and Employee Check-In.

[0074] The Retailer Mobile App software module features include add/edit item, employee profile, search items, and analyze sales. Only store managers and designated employees will have access to the Retailer Mobile App. The add/edit item feature is accessed when the user scans their employee ID. Then user scans the electronic tag and uses the retailer mobile app to add or edit items on the electronic tag. The employee can scan the tag and search for items in multiple stores. The employee can scan the tag and analyze item sales and store sales. The employee can also scan their employee ID and view their employee profile.

[0075] The e-commerce software module includes add item to cart, compare items, account management, cart/purchase, and home/coupons functions. The consumer can open the mobile app, scan the electronic tag, and compare pricing across multiple stores. The consumer can also use the electronic tag and the mobile app to select items for purchase and compare pricing for all items. The consumer can use the mobile app to select a payment option, read and agree to terms and conditions, and then receive a pay receipt. The consumer may cancel their order via a cancel prompt. The consumer can scan an electronic tag and add the item to a purchase wish list. The consumer can use the mobile app to email the wish list. The consumer can use the mobile app to setup an account for payment and save the payment options.

[0076] Files can be converted and downloaded to any Microsoft Office tool.

[0077] The pricing software module utilizes Cloud SaaS and enterprise software as the basis for auto pricing intelligence. When consumer demand is greater than supply, the price is increased, and when consumer demand is less than supply, the price is decreased.

[0078] A method of price communication and or sale wherein Radio frequency and near-field communication is used to update upon command the price label and a mobile application. The method uses mobile application software as a solution cloud and updates the price software upon command. The method uses a base station to access the price software. The base station updates the price label upon command. The base station also communicates with POS servers. The method uses POS servers which are updated daily by the price software. The method also uses Radio frequency and near-field communication in order for the customer's mobile device to access the internet. The method for sale utilizes the customer's mobile device to connect to the POS server and to purchase the product.

[0079] While this disclosure has been described as having an exemplary design, the present disclosure may be further modified within the spirit and scope of this disclosure. This application is therefore intended to cover any variations, uses, or adaptations of the disclosure using its general principles. Further, this application is intended to cover such departures from the present disclosure as come within known or customary practice in the art to which this disclosure pertains.

Claims

What is claimed is:

1 . A system comprising,

an electronic label wherein the electronic label is an e-smart adhesive label, a hardware infrastructure wherein the hardware infrastructure includes an internal wireless cloud smart solution with point-of-system integration and a base station, and

a software system including cloud software wherein the software system includes the following modules: back-office management, reporting, security, retailer mobile, e-commerce, and pricing.

2. The system of claim 1 wherein the e-smart adhesive label is affixed to a clip.

3. The system of claim 1 wherein the electronic label includes:

an electromagnetic clip having a battery,

a pair of armature plates, and

hinges for clip to adjust to a security tag.

4. A method of consulting a retail operator comprising

utilizing the system of claim 1 to provide business or technology consulting services including:

providing customization of the software system of claim 1 ,

providing management or support of a project utilizing the system of claim 1 , providing business analysis or support utilizing the system of claim 1 , and providing technical support of a project utilizing the system of claim 1 .

5. A method of price control using the system of claim 1 .

6. The method of claim 5 wherein the pricing module increases the price when consumer demand is greater than product supply and decreases the price when consumer demand is less than product supply.

7. A method to calculate, control, and report price, manage inventory, and to sell product using the system of claim 1 .

8. A method to calculate, control, and display price, and to sell a product using an electronic label, mobile devices, a base station, and a POS server, wherein the first mobile device uses Radio frequency and near-field communication to update upon command the price label and a mobile application,

wherein the first mobile device includes application software as a solution cloud and updates the price software upon command,

wherein the base station can access price software, update the price label upon command,

wherein the base station can communicate with POS servers,

wherein the POS servers are updated daily by the price software, and

wherein a second mobile device uses Radio frequency and near-field communication to access the internet and the POS server, and to purchase the product.

9. A kit comprising:

the system of claim 1 ,

a magnetic key, and

a digital key.

10. The kit of claim 9 wherein the digital key is for store managers.

1 1 . A retailer mobile application including the system of claim 1 comprising add or edit item screens, search item screens, analyze screens, and employee profile screens.

12. A consumer mobile application including the system of claim 1 comprising add to cart screens, compare screens, purchase screens, cancel screens, wishlist screens and account screens.