Price comparison sites still need to convince consumers that they can offer the best possible deal. Many consumers begin the purchasing journey using price comparison sites but end up dropping out before the process is complete. Many of these people choose to drop out in order to check if they can get a better deal by going directly. Price comparison sites should consider offering customers a price promise guarantee in order to tackle the perceptions that customers can get a cheaper deal elsewhere.
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Introduction
Abbreviations and definitions
Executive Summary
The market
Around 70% of internet users have used a price comparison website
Figure 1: Products researched/purchased through aggregator sites, April 2013
Market factors
Online activity
Companies, brands and innovations
Comparethemarket.com is the most widely used aggregator in the last year
Figure 2: Aggregator sites used in the last 12 months, April 2013
Small levels of brand differentiation between the traditional aggregators
Figure 3: Attitudes towards and usage of brands in the web aggregators sector, March 2013
The consumer
Price comparison website usage by product
Price comparison selection process
Figure 4: Aggregator site selection process, April 2013
Process completion
Figure 5: Price comparison usage and dropout rates, April 2013
Reasons for dropping out of the quotation process
Figure 6: Reasons for not completing a quote, April 2013
Reasons for dropping out of the purchasing process
Figure 7: Reasons for not completing a purchase, April 2013
Price comparison website concerns
Figure 8: Price comparison website concerns, April 2013
Attitudes towards price comparison websites
What we think
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Issues in the Market
Why do customers drop out from the price comparison process?
What can price comparison websites do to stop people dropping out?
Do consumers use different price comparison sites for different financial products?
Can Google capitalise on its brand and search engine dominance?
Trend Application
Price matching to compete with direct channels
Reassuring customers regarding data usage
Mintel futures: Human
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About Us
MarketResearchReports.Biz is the most comprehensive collection of market research reports. MarketResearchReports.Biz services are especially designed to save time and money of our clients. We are a one stop solution for all your research needs, our main offerings are syndicated research reports, custom research, subscription access and consulting services. We serve all sizes and types of companies spanning across various industries.
Contact
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Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-997-4948
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