Groupon, Inc.

Walker Digital, LLC

Raymod J Mueller

Jay S Walker

James Jorasch

Daniel E Tedesco

Magdalena Mik Fincham

Russell Pratt Sammon

Andrew P Golden

Keith Bemer

Peter Kim

Kathleen M Van Luchene

According to one described embodiment, a method is provided in which transaction information is determined. The transaction information is associated with (i) a buyer who has arranged to purchase a product from a central controller at a first price established between the buyer and the central controller and (ii) a merchant that offers the product for sale at a second price, different from the first price, without offering the product for sale to buyers at the first price. Information is transmitted that facilitates the acquisition of the product by the buyer, in exchange for payment provided by the buyer to the central controller. An amount based on the second price is provided to the merchant.

Retail system for selling products based on a flexible product description

A system is provided in which a sale price is determined based on a product description, and the sale price is transmitted to a customer. The customer is not guaranteed what specific product will be sold to the customer before an agreement to purchase a product for the sale price is received from the customer. After receiving the agreement, a retailer selects a product conforming to the product description, and identifies the product to the customer. The retailer is able to evaluate a customer's individual demand based on the received description and to determine a sale price accordingly, thereby reducing losses associated with conventional single-price systems. Although this may result in different sale prices for an identical product, the system is perceived as fair because a higher-paying customer likely agreed to a different product description than a lower-paying customer, and neither would have agreed to the other's product description and sale price. The system also allows a retailer to mask product discounts by selecting undesirable redemption conditions under which to sell the product, such as pickup at a faraway location, even if the product is available at a closer location. As a result, the customer believes that the discount is attributable to the undesirable redemption conditions, rather than to the product quality or to decreased demand. Accordingly, price and brand dilution are minimized.

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Weston, CT, United States of America

Raymod J Mueller