American consumers can save $7,707 a year by having access to and using high-speed broadband Internet, according to the Internet Innovation Alliance. The cost savings are detailed in a financial analysis titled, “The Real Cost of the Digital Divide.” The analysis finds that, after factoring in the average annual cost of a home broadband connection ($490), the typical American family could save tons of money per year on essentials like housing, food, clothing and basics like entertainment and travel through discounts and sales only available to online consumers. The savings are based on the average U.S. household income before taxes of $62,857.
Top Ten Potential Annual Savings Garnered by Broadband Connectivity | |||
Entertainment | Savings: $2,747 or 51.72% | Automotive | Savings: $438 or 1.5% |
Travel | Savings: $1,532 or 20% | Newspapers | Savings: $193 or 100% |
Housing | Savings: $974 or 7.67% | Gasoline | Savings: $95 or 4.76% |
Food | Savings: $965 or 25.70% | Non-Prescription Drugs | Savings: $76 or 24.20% |
Apparel | Savings: $640 or 37.12% | Bill Pay | Savings: $47 or 100% |
