By Kimberley Donoghue
PBN Web Editor
Twitter: @ kdonog
PROVIDENCE â€“ The Internet Innovation Alliance said the average American family could save $7,200 per year through discounts and sales only available online.
â€śConsumers are able to save online due to price comparison, access to deeper markets and the power of group-buying,â€ť said Nicholas J. Delgado, principal of Chicago-based wealth management firm Dignitas and author of the study â€śThe Real Cost of the Digital Divide 2011.â€ť
The IIA issued a release on Oct. 13 citing analysis based on the 2010 Consumer Expenditure Survey, published Sept. 27 by the U.S. Department of Labor.
â€śAlthough the average annual expenditures per consumer unit fell 2 percent in 2010, the amount saved remained nearly the same compared to a year ago and the percentage of savings rose in [â€¦]: housing, food, gasoline, and nonprescription drugs,â€ť the coalition said.
IIA said the potential annual savings due to broadband connectivity â€“ based on the average U.S. household income before taxes of $62,481 â€“ ranged from 48.8 percent in entertainment; 20 percent in travel; 9.8 percent in housing; 26 percent in food, and 33.7 percent on apparel.