One of the proverbial next-big-things is using your cell phone for shopping. So if you are walking in a new city and want to find a Starbucks (NASDAQ: SBUX), your cell phone will use GPS technology to find the nearest location.Well, now Sprint Nextel (NYSE: S) has jumped into the game and has teamed up with GPSShopper, which has a huge database of products from companies like Best Buy (NYSE: BBY), Staples (NYSE: SPLS) and so on. If interested, you will need to pay a fee of $1.99 per month.
I talked to Steve Beauregard, who is a wireless expert and the founder of REGARD. His company develops mobile applications for major companies like Research-in-Motion (NASDAQ: RIMM). He says:
"I think it will be a loss leader for some time to come. Changing people's buying habits will be a slow process. If they could combine that with a price comparison, that may be more interesting. I always like to know I am getting a good deal even when it is a matter of convenience. I think it will be used most by travelers looking for something specific in unfamiliar areas."
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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Reader Comments (Page 1 of 1)
6-07-2007 @ 7:14PM
GPShopper said...
"Changing people's buying habits will be a slow process."
Agreed - that is why GPShopper is not changing the way people buy, we are just arming them with information on their mobile phones. Already about 95% of retail purchases occur in brick-and-mortar stores. In this environment people are closer to their mobile phones then laptops. But, because of the internet consumers now expect to have more information about products (price, image, description, availability) before they make a purchase. This is where Slifter comes in: Slifter provides them with that information to then when they are on-the-go.
"If they could combine that with a price comparison, that may be more interesting"
Agreed again - our service already allows you to sort your search results by either distance or price.