I think it's a wash, maybe. Better prices can be found online, but more things can be found and purchased more conveniently. So I think it evens out in the long run and maybe skews towards spending more.

For example, I just treated myself to a Fallkniven TK3 in black quince. It was a pretty good price online, but not available locally. So did I save a few bucks or spend more than I would have?