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IIA Report Infographic: Mobile Shopping Statistics

Mobile Shopping Statistics

The internet has been blowing up in recent years and offering people things they never thought possible. Not only that, but a new report from the Internet Innovation Alliance says mobile shopping can save you a ton of money too.

In fact, the report has indicated that the average American family can save more than $11,000 a year on household spending thanks to the internet. This is due to the fact that there are many significant opportunities to save money on the internet, especially around the holidays. Certified financial planner Nicholas Delgado says “Getting caught up in the holiday spirit doesn’t mean you have to overspend on Thanksgiving, Christmas and New Year’s Eve, to name a few,” said Delgado. “Thankfully, broadband delivers a significant return on investment with valuable opportunities for deal comparison, group-buying, and online-only discounts that make it easier to stick to a budget…

Since 2010, the IIA has recorded savings that are internet-enabled in a number of different categories. Their data comes from the annual Consumer Expenditure Survey from the Bureau of Labor and Statistics. The possible savings have skyrocketed from around $7000 in 2010, to well over $11,000 this year. You can find big savings on anything from clothing, to apparel, to health insurance and more.

The biggest savings are in the areas of entertainment, housing and automotive. The report found that you can save upwards of $3,000 in each of these categories.  (Included is an infographic by the IIA providing a further breakdown)

Mobile Shopping Statistics

Compared to IIA’s financial analysis last year, the greatest increases in savings opportunities emerged in Housing (23.50% in 2015, compared to 16.53% in 2014) and News (54.05% in 2015, compared to 39.29% in 2014). However, the percentage of savings on food (12.65% in 2015, compared to 25.68% in 2014), apparel (44.84% in 2015, compared to 62.55% in 2014) and gasoline (2.05% in 2015, compared to 12.28% in 2014) dipped. Of note, in 2015 spending on gasoline decreased by 15.32%, down from $2,468.00 the year prior.

Holiday season is spending season — from buying presents to traveling for vacations and family visits,” commented IIA Co-Chairman Jamal Simmons. “Luckily, savvy use of broadband tools can help families get more for their money.” Of the 180 million U.S. adults expecting to shop Black Friday week through Cyber Monday this year, 114 million plan to shop online and 70 percent will use mobile devices, according to a new Consumer Technology Association (CTA) survey.

Simmons added, “Encouraging investment in 5G technology that will extend broadband to all Americans, from urban centers to rural areas, should be a top priority for policymakers...”

These are impressive numbers and are surely to only keep rising in the coming years as more people flock to using the internet to save money.

Kale Havervold

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