The Many Benefits Offered By Online Price Comparison Websites

Price comparison websites are considered to be a very effective and necessary innovation, introduced more than 20 years ago. By giving you the power to compare a plethora of policies from a single platform, the websites have compelled dozens of online businesses to base their plan of action and competition on ‘price’.  This has fundamentally aided a lot of start-ups and smaller businesses and brands to solidify their stance in a highly competitive market.

Comparison websites are part of a multibillion dollar industry. Take Moneysupermarket for example, which has a valuation of over £1 billion. And it is no surprise that the website’s advertisements have featured a score of celebrities, which also includes Snoop Dogg.

However, because of the undeniable rise in the influence of different comparison websites, many sites have displayed an ever increasing aggression when it comes selling products of the companies they work with, using ruthless tactics to achieve their goals – to retain their profit margins. After a two year study, the Competition & Markets Authority published its findings, identifying a lot of informal tactics utilized by comparison sites.

More specifically, the CMA reported that a majority of sites overly insist that the online businesses using their services restrain from selling their products any cheaper on different ecommerce websites. Although this tactic can been seen as very effective, it does a have one drawback, the online businesses have their hands tied when it comes to product negotiation and offering good deals to their customers, stripping away consumer benefit.

The CMA also reports that there are various comparison sites that are trying hard to minimize consumer pricing. However, they are consistently failing because of the hard line tactics being implemented by other competitors. Comparison sites make money by securing a commission from online businesses. But they are instances where the CMA identified that many comparison sites are willing to put a dent in their commissions so that an online business can lower prices for its customers.

However, online businesses hesitated on agreeing to these proposals because of the fear of breaching ‘favoured nation’ policies. Many competitive sites reacted by dangling a sword on their heads, saying that they will remove their products and services from their website without giving it a second thought, something that many online businesses cannot afford at this point – in essence they cannot disappoint top rated comparison websites raking in business from them.

This is where the CMA intervened and implemented a no holds barred approach and has strongly suggested eliminating this monopoly. This is where online businesses can breathe a sigh of relief, although competitive sites can argue that they don’t sell their products any cheaper on their sites, but they will not be able to remove the online businesses from their website. So, things do seem to take a turn for the better with the help of CMA policies.

This is also bodes a fair advantage for the consumers who will now have the chance to visit multiple websites to get the best offers on different products. Although it is a no brainer that consumers should visit different websites to shop for products as there are a lot of online businesses that do not appear on several comparison sites. Although you won’t have to say good comparison websites have a wide range of product categories.


The Benefits of a Price Comparison Website

Rather than going to a number of different websites for shopping online, you can compare different prices against different quotations offered by many online businesses. Doing so will allow you to be more precise and analytical on the products you buy, saving both time and money in the process. In light of this mentioned below are some of the advantages that comparison websites have to offer:
Saving Money (No, really)

Comparing prices of different products online via different websites helps you to select products that are priced best. This is important as the same product displayed on a website having a certain price may cost considerably less or more on a different website. Plus, it also helps you to buy a product or service founded on your own specific criteria. All that you have to do is go through different comparison websites and get a good quote. Yes, this may take a bit of time, but in the end it is profoundly worth it as you get to save money, especially if you are buying more than just one product.

Convenience

Rather than seeking information from various websites, you can access a comparison website and get your quotes from a single source via just a click of the button. Comparison websites offer variety and a lot of data that you can go through to determine a good buy. So, this also offers the element of choice. All you have to do is surf through a wide range of categories available on the website. Good comparison websites offer very easy access.

Search for the product you are interested in buying and scurry through the options available. Top comparison sites help you to make your product search more specific; connecting you to the shops you can get the product or services from at a relatively cheaper market rate. After you have determined the product you want to buy the site will suggest a plethora of shops that have that product along with their respective pricings.

From there on, you can make a smart decision regarding where to buy your product from. Furthermore, many top comparison websites also provide customers with a review service. There you can read different reviews about how good the site is and how helpful it has been to consumers. You can either read general reviews or read reviews about the product you wish to buy. A review service further solidifies your chances of attaining the right product from a reputable shop or source.

No Need to Look for Discounts and Offers

If more consumers begin to use comparison sites, they will not have to waste time keeping an eye out for special promotional deals or discounts. The whole point a comparison website is to provide a single platform where you can get the right deal, which is not being offered anywhere else. Another plus point about these websites is the fact you can sit at home and get your desired products delivered right at your doorstep. It is a no brainer that online shops offer round the clock services, you can compare the price of a product and get it delivered the very next day or the same day, depending on what product you buy.

Saving Money on Transportation

The fact that you are getting everything you need from a single source means you don’t have to go out for anything. Just order the right product online and save money on commuting.
Instant Notification in case of Sales

Comparison websites keep you up to date with all the latest sales and promotion going on at different brands and labels. You can get timely notification on your smartphone, and you can avail a discount right there on the spot on your favourite product without having to worry about anything.

No Fear of Being Cheated

As top comparison websites are reputable and legitimate you will not have to worry about whether the pricing on the products are accurate or not. You can now safely shop on your favourite holidays without having to worry about being ripped off.

Knowledge of Good Ratings

As comparison websites have a transparent rating services offered to all, you can compare reviews regarding your product(s). Legitimate reviews and rating bear further testimony on the reputation and authenticity of the comparison website. This mean you can shop for a plethora of products under one roof, sitting at home. Plus, you will also be able get real life ratings from real customers, making your shopping experience even simpler.

Access to Different Services

Apart from shopping for different products by comparing prices, you can also compare prices of a variety of financial services as well. For example, you can opt to compare prices of different insurance policies. If you want to buy a car you can compare different insurance prices and make an informed decision. Similarly, if you want to buy a house, you can compare different insurance and mortgage prices offered by a number of financial institutions.

All in all, the very essence of shopping via comparison websites is the very fact that you should read the reviews posted. Always be informed about the product or service you wish to buy. Never hurry to a decision, read reviews and look at the ratings a particularly product that you interested in has gotten. That will be more than enough for your arrive a more desirable conclusion as to whether you should buy that product or not.


So, the next you feel like going on a shopping spree, just visit a good comparison website and shop safely and with a piece of mind knowing you will save a lot of money.

Provided by www.247HomeShopping.com

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