Covered here previously. ClickZ provides some additional details. I don't see it as revolutionary but its origin has made many people pay attention. This article presents an outline of operational details at the management level. We still don't know how customers will react and sign up to related services.
" ... Fans of the movie Minority Report will remember the scene where our hero enters a branch of Gap, has his iris scanned, and is immediately served up personalized and custom messages.
Released as part of iOS7, iBeacon is a micro-location and positioning protocol that lets your phone interact with low power transmitters (or beacons) placed in strategic locations. This places your location down to a few centimeters, which can then facilitate push messaging or other forms of interaction and service such as pushing a coupon to users who have relevant apps installed. ... "
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