G'day Dave,
The red dot that you speak of, is there to let you know that you have apparel in your inventory that is ready to be upgraded....
Select your avatar, then select - edit apparel & you will be taken to your apparel inventory....
Here you will notice the red dot once again above your apparel items....The items with the red dots have features within that are ready to be upgraded by using your coins.
Unfortunately after a few years on this new platform, we are all still seen as green whilst we're busy playing....Apparently the developers of this game are currently working on other "Goals & Achievements".
Cheers,
Waz.