Sounds like an excellent idea to me ;-)

Walk around a mall. Watch the number of people using their phones to take photos, talk to their friends about options, phoning home to check they're getting the right thing, etc.

They're all young teenagers. Is that a great revenue model?

I dunno. Depends on whether you can do interesting things with 'em.

For example - you build the social hot-or-not for clothes purchases. How much is the data from that worth to a high-street retailer as a way to guide their pricing and stocking decisions.

(and - come to that - I see folk well out of their teen years doing this. Women especially in clothing stores... and what is the purchasing power of groups who are rich enough to afford smart phones in the first place)

Just gotta wait out ten years to see the revenue. Which is why traditionally it's big corporations that could handle investing into advertising of the youths.

If I were to do that all over again, I would've focused on building an audience around a pinterest-like blog or FB page with cool retail items so that we would've had people to launch to.