Research by the venerable Nielsen firm indicates that by the end of this year (2011), smartphones with their location based awareness will overtake "regular" cell phones in terms of market penetration. If you haven't assimilated this fact in terms how it will dramatically change goods and services, it's time to start thinking hard right now. You may end up owning lots of buggy whips! (read Nielsen research).
For example, this evening I was shopping at Target for some minor items. Knowing that I also wanted to purchase a larger external USB hard drive for backups, I walked over to the electronics department. Using my Android smartphone Google Shopper App, I scanned the product barcode (special sale price) and discovered that Target's great price wasn't that good at all. In addition to online options, my results gave me better prices for the exact product in my immediate locale (20% less). The entire scanning / online price check took me less than 30 seconds. This is just one example of location based design, and how it will change the world as we know it!
Remember the film The Graduate? GPS, not Plastics!
Click to view the Nielsen chart at full size.