recap of lunch meeting with four computer industry veterans

by SteveBayle on December 11, 2009

These guys together have more than 100 years experience creating apps, building companies and selling hardware and software. Main takeaways:

1. One, whom we met with yesterday, went home and asked his wife – who is not technical at all – if she would use Verbela. To his amazement her answer was a resounding yes! She is very much into fashion and especially international fashion and would love to be able to find out what others think and are buying just by scanning a UPC code. The question is do fashion items have bar codes?

2. Suggestion we license Consumer Reports reviews. My guess is that there is a line a mile long trying to do that and as a non-profit they won’t do it. However, it might be worth a try. For example, we could white label Verbela to them. When it comes to trust, who is most trusted when it comes to retail shopping after your friends and family? Consumer Reports.

3. They liked two business models: one, simply sell the app in the App Store and two, enable people to upgrade to membership in the “buyers’ club” that gets them the LBS personalized special offers.

4. They really liked the idea that you could take a photo of a product and send it to us and get back the ratings, reviews and recommendations, as there are certain products that don’t have a bar code or the bar code is only on the carton and may not be accessible to the consumer. I think photo recognition, maybe combined with voice recognition, could enable us to pin down exactly what product the consumer is looking at and wants to know more about. I’ve been told that Trade Joe’s products do not have UPCs, their bar codes are SKU numbers, same with Costco. Need to verify this.

5. They agreed that the carrot of getting special offers as members of the buyers’ club was definitely attractive.

Posted via email from PostVerbela

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