Quicker Feet, a new iPhone app has opened up a new dimension in mobile location based advertising. The app allows retailers to alert users about on going promotions in the vicinity. The app will be launched publicly in May and is being billed as a way to counter revenues lost small retailers to online retail juggernauts likes Amazon.
According to Darren Winterford, founder of Quicker Feet, the app will be free for consumers. Quicker Feet will make its revenues by charging regular retailers a flat fee of $4.95 per posting, while one off retailers would have to pay something between $15-$20 per posting.
Winterford thinks that although the app would bring great value to retailers that sell perishable goods, it could be equally valuable for cinemas and airlines that need to get rid of unsold inventory at the last minute. The idea of offering last minute discounts to people passing by a cinema for the free tickets certainly has a lot of promise.
Quicker Feet would also have an API that would allow retailers and vendors to build custom apps/promotions on the top of Quicker Feet.
After the iPhone debut, Winterford and team plans to release it for the entire range of smartphone platforms.