Inventors:
David Juang - Forest Hills NY, US
Rajendra R. Rane - Woodbridge NJ, US
Assignee:
American Express Travel Related Services Company, Inc. - New York NY
International Classification:
G06Q 30/00
US Classification:
705 1453, 705 729, 705 141, 705 1413, 705 1424, 705 1425, 705 144, 705 1441, 705 1449, 705 1461, 705 1466, 705 267, 705 28
Abstract:
Consumer, merchant, and transactional data from a closed loop network and external sources may be leveraged to increase demand of a merchant's inventory during normally low-demand periods. Extensive data mining is used to determine the excess merchant inventory and demand patterns at different times and different locations for merchants and groups of merchants. Similar data mining is used to analyze cardmember demand patterns to identify the cardmember preferences regarding when and where they which to purchase goods and/or services. Cardmembers may also be grouped based on their demand patterns. Using pricing as a lever, cardholders with specific preferences are targeted to shift the demand from peak periods and locations to non-peak periods and locations, and to increase the non-peak demand by location as well as time period. Higher precision may be obtained using product level transaction data from point-of-sale terminals used by merchants wherever applicable.