Michael Trivett asked:




Price comparison websites have been around since the late 90′s, however they only really taken off over the last few years due to an overall breadth of merchants who are now online. Price Comparison has been taken very seriously by the big internet players as reference to the acquisitions of Pricegrabber by Experian and Shopping.com by eBay.

Probably the greatest aspect of price comparison sites is that it allows you to view prices on 1000′s of products that have had their prices aggregated on one site which saves you from going to a dozen websites. If you are like most consumers you want to know that when you purchase any item that you got it for the best available price in the market. Price comparison sites allow you to instantly compare a single product against multiple merchants.

How to buy the best products through comparing cheap prices

Some of the most popular products that feature on comparison shopping sites are digital cameras deals, LCD TV’s, cell phones and laptops. However, with automatic feeds that update the data on a daily basis these sites are able to price compare obscure items from old movies to GPS navigation systems and bicycles. The best part of having all merchants or retail stores on the same page for comparison purposes is that you can dig deeper than just price and look at product descriptions which may show discrepancies in a products overall features that is significant for you the consumer. It’s for this reason that price comparison have killed the bricks and mortar retail business, why would you spend half the day in your city to compare refrigerator prices on a similar item when you can ascertain all the pertinent data in a matter of minutes online.

With hundreds of available shopping deals to be compared it is easy to get lost with the available comparison site options. I have found that the best sites will always have daily updated feeds, product reviews, complete and transparent pricing information addition to the thousands of online product categories.

Many price compare sites have now started uploading significant amounts of content to add value to the consumers buying experience. Some of the content includes end user product reviews, shopping guides, top 10 lists that rate the best products in each category and the latest trends and accessories for popular products.

Constance

myshoppinggenieclub asked:

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Clara

Neilruss asked:

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Audrey

Kennard McGill asked:




The internet has become a valuable resource for consumers to research and find products online. Comparison shopping sites have made buying products online a valuable first step in many purchasing decisions.

The laws of supply and demand are evident in a competitive marketplace. The market forces businesses to find new ways to attract and keep customers by lowering prices, improving quality and offering new products and services.

As companies large or small employ tactics and strategies to lure customers, consumers are the ultimate beneficiaries of a competing marketplace. With more market competition customers ultimately find more quality products and services at better prices.

Seeing a snapshot of retailers in a particular market with the products and services they offer, much like they are displayed on comparison shopping sites, consumers can be empowered with more information to make better buying decisions.

Consumers searching for the best possible flowers shop deals online don’t have to rely on the first site they find in a search engine. They can find sites that cater to finding and showing the best flower deals online with keyword searches such as ‘flower shop deals’.

The advantage to using comparison sites for online flower shop deals is that consumers will often find combined deals such as discounts and coupons. The added incentives of coupons and discounts will often lead online shoppers to the retailers’ site because of these added savings.

The benefit of this medium is that consumers get to see an item they want with the price as well as the competitors’ price for the same product. In addition, comparison shopping sites have features such as, product details, product availability, and user reviews.

Editorial and user reviews tend to influence potential customers in their buying decision. User reviews are authored by customers who want to share their opinions and experiences about a product or service. Many online shoppers often feel more confident about making a purchase after they have read about the experience of other shoppers.

Even when the lowest price on the same product is matched, the final decision can often be narrowed down to the retailers’ market reputation. Some factors in your decision can be whether you made a previous purchase from that business before or whether they offer a money back guarantee or exchange.

With the growing number of comparison shopping sites online today, consumers can search the internet for a variety of different products in any market and find a comparison shopping site listing merchant prices and service details.

Whether you’re in the market for a new computer, shoes, insurance or flowers, shoppers can find greater value when using comparison shopping sites for the best price and service.

Gail

Jasmeet Sawhney asked:




I always get into an argument with a friend who works at a first generation Comparison Shopping Engine (CSE). My opinion that CSEs need to do much more than just provide price comparisons does not fare well with him. His mantra – “Get shoppers in and out as quickly as possible and run with your cut”. Until recently, no one seemed interested in engaging shoppers, or providing better experiences. But, what my friend doesn’t realize is that the CSE world is changing. What was once considered taboo is soon going to become a hygiene factor. And, new breed of Comparison Shopping Engines are leading the charge to see about this change.

Some first generation CSEs: Shopping.com, Nextag, Shopzilla, MSN Shopping, Yahoo! Shopping, PriceGrabber and Google.

Some second generation CSEs: Become, Pronto, Shopwiki, Smarter, Shop.com, Bing, TheFind and Retrevo.

Here’s what is changing at CSEs:

Content – New CSEs are focused on providing a one-stop shop complete with user reviews, expert reviews and videos. It is clear that providing relevant content produces qualified traffic that in turn has higher conversion rates. Players like Retrevo also provide product manuals and I like the way they summarize reviews. Bigger players like Google and Bing are improving as well with integration of product images, reviews and multiple site links (Google) in their search results.

Social – Community features on comparison shopping sites are bridging the gap between CSEs and social shopping sites. These features empower users to rate/review products and get advice from peers and like-minded people. Social Sharing and Facebook Likes have become ubiquitous, but integration with social networks is still evolving with Facebook launching new products every few weeks.

Deals/Coupons – Shoppers have gotten used to shopping with coupon codes, which makes this feature an important value-add. An example is Ask.com that started offering this feature to save shoppers the extra step of hunting coupon sites.

Localized results – It is rare to find an in-store shopper who hasn’t done some research online, especially in popular product categories. Visiting comparison shopping sites is an important part of this research and ability to lookup local results along with availability information adds to this experience.

Mobile – With the potential to transform the in-store shopping experience, possibilities with mobile are endless. Many shoppers today use CSEs to compare prices while in-store and to shop on-the-go. Mobile is the new frontier for any retail operation. CSEs have taken note of this and are developing rich mobile experiences.

Business model – Most new CSEs offer a CPA model that is conducive to retailers. Even bigger-older players including Google (Product Listing Ads) have started offering CPA instead of PPC.

Over the last year, Google and Bing have turned up the heat as they compete with each other on their eCommerce offerings. They are increasingly evolving into shopping marketplaces leaving CSEs no choice but to innovate. Most first generation CSEs (now owned by large organizations) have failed to catch up and are constantly losing traffic to second generation CSEs and bigger players that continue to improve (Google, Bing, Amazon). CSEs now have to answer a very different question, which is ‘where to buy’ instead of ‘what to buy’. There is no doubt that in the next few years we’ll see demise of some big first generation CSEs due to their failure to embrace these changes. Comparison shopping has moved beyond simple price comparisons to a one-stop shopping experience.

Stacy