System and method for handling an offer to purchase a followed item

Abstract

A system receives from a customer having an associated rewards points account a price offer for an item. The system determines if the price offer for the item is below an established threshold price, e.g., a price a retailer would accept for the item. When the price offer for the item is below the established threshold price, the system determines an amount of rewards points to be redeemed by the customer to thereby allow the customer to purchase the item at the price offer for the item as received from the customer. The system then allows the item to be purchased by the customer at the price offer for the item as received from the customer in the event that the customer indicates a willingness to redeem the determined amount of rewards points from their associated rewards points account.

1 - 14 . (canceled) 
     
     
         15 . A method, comprising:
 capturing, via a camera or a scanner of a mobile device of a first user, an image of a bar code or a coded image associated with an item;   initiating, via a graphical user interface of the mobile device, a price following process based on the captured image;   designating, via a graphical user interface of the mobile device of the first user, an item for price following for the first user after the mobile device captures the image;   sending an SMS message to second user with a link to one or more web pages based on information extracted from the captured image to enable the second user to set up a price following of the item;   tracking the price of the item before the item is purchased by the first user;   decreasing the price of the item and downwardly adjusting acceptable price range when competitor pricing information is lower than the acceptable price range, wherein the acceptable price range is a range of prices for which the item can be purchased without using rewards points;   increasing the price of the item and upwardly adjusting the acceptable price range when the competitor pricing information is higher than the acceptable price range;   receiving, via the mobile device of the first user having an associated rewards points account, a price offer for the item that was previously designated for price following; and   when the price offer for the item is below a threshold price, allowing the item to be purchased by the first user at the price offer for the item when supplemented by reward points from the associated rewards points account of the first user.   
     
     
         16 . The method according to  claim 15 , comprising redirecting a browser application of the mobile device to one or more web pages based on information extracted from captured image, wherein the one or more web pages have information about the item, wherein, via the one or more web pages, the first user sets up the price following by setting one or more of the following: one or more price parameters, a time period over which the price following is active, and one or more price notification alerts based on the one or more price parameters; 
     
     
         17 . The method according to  claim 15 , comprising sending news and social network reviews related to the item to the mobile device of the first user. 
     
     
         18 . The method according to  claim 15 , comprising determining that the first user does not have enough rewards points in the associated rewards point account to purchase the item at the below-threshold price; and inhibiting the purchasing of the item at the price offer for the item as received from the first user. 
     
     
         19 . The method according to  claim 15 , comprising adding rewards points to the associated rewards points account in response to a qualifying item being purchased. 
     
     
         20 . The method according to  claim 19 , wherein the amount of rewards points to be added corresponds to a percentage of a dollar amount spent. 
     
     
         21 . The method according to  claim 19 , wherein a bonus multiplier is provided to the amount of rewards points to be added to the associated rewards points account based on a membership level of the first user. 
     
     
         22 . The method according to  claim 15 , comprising sending one or more alerts having information related to the price of the item to the mobile device of the first user. 
     
     
         23 . The method according to  claim 15 , wherein the price following process comprises setting up one or more parameters by the first user via the mobile device, wherein the one or more parameters comprise conditions for alerting the first user with respect to the item being price followed. 
     
     
         24 . The method according to  claim 23 , wherein the one or more parameters comprise one or more of an address, an email address, a phone number, and a social networking username. 
     
     
         25 . The method according to  claim 15 , comprising downloading, to the mobile device, an application related to the price following process that comprises an imaging application. 
     
     
         26 . The method according to  claim 25 , wherein the application is downloaded via a wireless access point located at a store. 
     
     
         27 . The method according to  claim 15 , wherein the price following process follows the price of the item at a physical store and at an online store. 
     
     
         28 . The method according to  claim 15 , wherein the price following process comprises setting up one or more of the following conditions for price-following termination: a time period expiration, an expiration time point, and a purchase of the followed item. 
     
     
         29 . The method according to  claim 15 , wherein the price following comprises real-time price following of the item. 
     
     
         30 . The method according to  claim 15 , comprising selling the item if the price offer falls within an acceptable range; and recommending other items if the price offer is outside the acceptable range. 
     
     
         31 . The method according to  claim 15 , comprising providing the first user with price information and non-price information about the item being price followed. 
     
     
         32 . The method according to  claim 15 , comprising determing a threshold price based on item inventory and competitor pricing information for the item or a similar item. 
     
     
         33 . The method according to  claim 15 , comprising offering for sale to the first user similar items near the price offer when the price offer for the item is below a threshold price. 
     
     
         34 . The method according to  claim 15 , comprising populating a gift registry based on the captured image.