“Beyond the dollars that can be saved with an Internet connection, being online brings unquantifiable advantages like access to education, job opportunities, social networking and on-demand information,” said Bruce Mehlman, IIA co-chairman. “Congress and the FCC should focus their efforts on policies that encourage investment in more robust networks and policies that expand digital literacy to those offline, rather than aggressive regulatory detours that discourage investment.”
— Bruce Mehlman

 

 

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ONE. HOUSING. POTENTIAL SAVINGS: $974/YR (7.67%)

Source: Search based study on apartments in New York, Chicago, Los Angeles, Dallas and Jacksonville
Methodology:
Sampled 50 online postings in the above markets to determine average cost savings relative to local apartment rent.  Applied 7.67% savings factor to the average annual expenditure on shelter ($12,697) based on the Department of Labor annual study on consumer expenditures.

Site examples: www.padmapper.com, www.apartments.com, www.craigslist.org

TWO. AUTOMOTIVE. POTENTIAL SAVINGS: $438 (A ONETIME SAVINGS OF 1.5%)

Source: Cost analysis based on average new car purchase price in 2010
Methodology: Applied 1.5% savings factor from JMR study to the average 2010 vehicle purchase cost net outlay ($29,217) based on a report by the Detroit Free Press. usatoday.com/money/autos/2010-07-12-carprices12_ST_N.htm

THREE. TRAVEL. POTENTIAL SAVINGS: $1,532/YR (20%)

Source: Amadeus Case Study amadeus.com/us/documents/aco/us/BearingPoint.pdf
Methodology: Applied 20% savings factor from Amadeus study to the average amount spent on travel ($7,658) based on the Department of Labor annual study on consumer expenditures.

FOUR. FOOD. POTENTIAL SAVINGS: $965/YR (25.70%)

Source: Search based study on basic basket of groceries based on top selling categories (Carbonated beverages, Milk, Fresh bread, Beer, Salty snacks, Natural cheese, Frozen dinners/entrees, Cold cereal, Wine, Cigarettes)
Methodology: Created a standard basket of monthly groceries to establish a baseline retail cost.  Conducted a series of online searches against the baseline to identify cost savings exclusive to the internet.  Potential savings based on cost reductions at the aggregate basket level.  Applied 25.7% savings factor to the average annual expenditure on food at home ($3,753) based on the Department of Labor annual study on consumer expenditures.

Site example: www.couponmom.com, www.peapod.com

FIVE. NON PRESCRIPTION DRUGS. $76/YR (24.20%)

Source: Search based study on common over the counter medicines (Pain Relievers, Antacids, Cold Remedies, Allergy Relief, Natural Remedies)
Methodology: Created a standard basket of the best selling non prescription drugs to establish a baseline retail cost.  Conducted a series of online searches against the baseline to identify cost savings exclusive to the internet.  Potential savings based on cost reductions at the aggregate basket level.  Applied 24.2% savings factor to the average annual expenditure on non prescription drugs, which was derived as 10% of the average annual expenditure on healthcare ($3,126) from the Department of Labor annual study on consumer expenditures.
Site example: www.drugstore.com, www.amazon.com

SIX. GASOLINE. POTENTIAL SAVINGS: $95/YR (4.76%)

Source: Search based study on lowest gasoline prices in New York, Chicago, Los Angeles, Dallas and Jacksonville
Methodology:  Researched average gas prices within a 10-mile radius of three zip codes for each of the above cities, and found the lowest advertised prices in each, for a savings of 4.76% off of average gasoline expenditure ($1,986) based on the Department of Labor annual study on consumer expenditures.
Site example: www.gasbuddy.com

SEVEN. ENTERTAINMENT. POTENTIAL SAVINGS: $2,747/YR (51.72%)

Source: Search based study on restaurant dining, sporting/concert tickets and leisure activities in New York, Chicago, Los Angeles, Dallas and Jacksonville
Methodology: Applied savings factor of 57.6% on dining outside of the home ($2,619) based on the Department of Labor annual study on consumer expenditures.  Applied savings factor of 46% on entertainment such as concerts, events and leisure activities to the entertainment budget ($2,693) based on the Department of Labor annual study on consumer expenditures.
Site example: www.groupon.com, www.livingsocial.com

EIGHT. APPAREL. POTENTIAL SAVINGS: $640/YR (37.12%)

Source: Search based study on basic clothing combinations for men and women
Methodology:  Created a set of standard baskets of apparel for a man (khakis/jeans and shirts) and a woman (skirts/jeans and tops) to establish a baseline retail cost in each of five price categories.  Conducted a series of online searches against the baseline to identify cost savings exclusive to the internet.  Applied 37.12% savings factor to the average annual expenditure on apparel ($1,725) based on the Department of Labor annual study on consumer expenditures.

Site example: www.overstock.com, www.ideeli.com

NINE. NEWSPAPERS. POTENTIAL SAVINGS: $193/YR (100%)

Source: Search based study reviewing major newspapers in New York, Chicago, Los Angeles, Dallas and Jacksonville
Methodology:  Calculated the standard annual rate for a daily delivery (including Sunday) subscription for the top three papers in each of the above cities.  Potential savings factor based on average annual daily subscription rates.
Site example: www.nytimes.com, www.chicagotribune.com, www.dallasnews.com

TEN. BILL PAY. POTENTIAL SAVINGS: $47/YR (100%)

Source: Cost analysis based on average consumer’s postage for six bills per month, plus one pay-by-phone charge.
Methodology: Created a to a standard multiple of monthly bills that are traditionally paid via postage (Rent/Mortgage, Gas, Electric, Water, Cable/Phone/Internet, Mobile). Applied average cost per US postal stamp ($0.44) for each monthly bill, plus the savings of one average pay-by-phone charge ($15).
Site examples: www.mycheckfree.com, www.chase.com, www.bankofamerica.com