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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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.
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