Internet might not necessarily help you save more: Study

Washington, Dec. 5 : Despite providing a fast and easy way of comparing products and purchase them, Internet might not be necessarily helping consumers save the extra dollar, a new survey has revealed.

The survey conducted for MoneyRates.com by Op4G suggests that the Internet may actually be a mixed blessing for consumers who want to save money this holiday season.

According to Fox News, the poll surveyed 2,000 US adults and found that 23 percent now do their holiday shopping primarily online and 31 percent do it primarily in person, while 46 percent split holiday shopping evenly between the Internet and in-person shopping.

The survey revealed that 50 percent of respondents said that they were more likely to buy something on impulse when they shop in person, compared to 17 percent who said they are more likely to make an impulse purchase online.

It was found that people who shop primarily online expect to spend an average of 487.04 dollars this holiday season, compared with the average of 436.53 dollars that people who shop primarily in person expect to spend.

According to the findings, online shoppers spend more time buying, an average of 5.84 hours, than traditional shoppers, average 5.24 hours, who shop in person.

It was also found that savings accounts at online banks pay roughly three times the average interest rate of savings accounts at branch-based institutions, the report added.

--ANI (Posted on 05-12-2013)

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