It is no secret that the economic divide is growing in the United States today pushing more and more families and individuals into the lower middle-class. The reasons for that can easily comprise multiple blog posts but its not the reason for todays posting. Today, I want to present a business idea that will make things easier for those in the lower economic strata while being socially moral.
The state of the art in application development has come a long way. Today, it should be easy to create an application ("App") that can take a shopping list and figure out the cheapest method of acquiring the items on it while paying attention to constraints such as starting location (home, work, etc.) cost of transportation, mode of transportation, geographical cost differences etc. I believe that such an App can help stretch an individual or family's budget further. The more items on a shopping list the easier it should be for the App to find a solution that is better than what is available simply by going to the nearest "cheap" store.
An App like this can also make a deep dent in the price gouging that tends to happen when there are few shopping options in a neighborhood.
One of the biggest impediments to an App such as this one will be the monetization options. Frankly, I think a 49 cents a month fee could cover the cost to the servers and staff required to run the whole shebang - assuming a large enough up-take in the target demographic.
What do you think? Am I off my rocker here?
Nigel Bahadur's normal market observations - usually about the US Futures market. Occasionally though, he will express thoughts on individual stocks and FOREX cross rates.