Monday, June 24, 2013

Latest Report on Web Aggregators in Financial Services Industry - UK - June 2013

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.

Table of Content

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 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

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