Exercise and weight loss? There's an app for that!

Two Washington, DC area entrepreneurs are on the verge of launching Nexercise, a new smartphone app that will help millions of people keep their 2011 New Years resolution:  A commitment to exercise and fitness.

According to an article in today's Capital Business, "[Nexercise] users select a physical activity, such as aerobics, running or badminton, then choose a workout time of 15 minutes or more. The program uses sensors already built into the iPhone and other smartphones to detect motion and other metrics that verify the activity actually takes place."

The founders of Nexercise, Benjamin Young and Gregory Coleman,  say the app will also offer rewards and discounts to users, providing additional incentives.

This is an interesting concept and I'm intrigued.  However, if a healthier lifestyle, more energy and a leaner physique aren't enough to motivate someone to exercise more; a "free" Power Bar or a discount on a CD certainly aren't going to do it.  The rewards will need to be substantial to motivate those who are not self-motivated.

The app does have some value though, especially for those folks who don't belong to a health club where numerous forms of measurement are already provided.  The social component that allows users to compete with other smartphone owners or interact on Facebook and Twitter is a unique feature that might generate a viral following. While I'm not certain that I would want to share my weight loss goals and exercise regimen online for all to see, social networking has certainly broken down many personal information barriers far worse than that. Nexercise will allow two friends who live far apart to compete with and motivate one another in real time.  That's pretty cool.

According to the Capital Business article, the primary financial model is built around transaction fees from coupon redemption.  Though Young clarified on this blog that the app will be free and, "users won't have any additional fees.  The transaction fee is a nominal fee (think paypal, ebay, etc) that is charged to the retailers when users redeem their rewards." This is not a fee charged to the consumer like when purchasing a gift card or an airline ticket.

I can think of numerous sponsors who might be interested in supporting a service like Nexercise (though McDonald's isn't one of them).

I'll be following the launch of this new app, which is scheduled for Q2 of 2011, especially since my New Year's resolution is to exercise more.

Good luck guys!  I hope this app is successful.  Let us know when it launches.

Guess what small boutiques can offer this holiday shopping season that big retailers can't?

There was a great article by Danielle Douglas in Capital Business this week about how small retailers are trying to compete with big box stores during the holiday shopping rush. 

Working for a relatively small retailer myself, I found the article fascinating. 

While the story points out that margins for boutiques may be much smaller than those for large retailers, and that trying to compete by offering deep discounts is unsustainable, the opportunity to close the year on a positive note exists if the independent retailers can find a way to entice shoppers with benefits other than severely discounted prices.

According to the article, Amy Rutherford, owner of Red Barn Mercantile in Alexandria, VA says,  "People are starting to get the fact that good customer service is starting to outweigh just the really good bargain.  If we can keep our prices in a range that makes it palatable for people, they will come to our stores."
 
As a consumer, I completely understand the value of deep discounts, having spent the past two weekends shopping at a local outlet mall with my wife.  However, I am also taking the time to get those very "special" gifts at independent retailers.  Not just for the quality of the customer service (which generally is much better), but also because there are far fewer lines, easier parking, and more unique products than you can often find in big department or chain stores.  There is someone on everyone's list who deserves the extra effort, and it doesn't hurt that shopping at boutique retailers also helps the local economy by providing a boost to small businesses.
 
Take the time to shop at your local independent retailer (blatant plug coming) or Goodwill store this holiday season.  You'll find great gifts that will make you a much more appreciated Santa, while also helping to protect someone's job.