Price comparison websites have surged in popularity in recent years. There’s a valid reason for that: they help consumers to realize better value when they buy a product. As e-commerce becomes an ever bigger part of the average person’s shopping experience, the role of comparison websites will only increase.
The following are some of the major benefits of using a price comparison sites when making important purchase decisions.
Identify Notable Sellers
Comparison websites aggregate key suppliers thus giving you a bird’s-eye view of the market. Many products have hundreds of distinct manufacturers and suppliers. Few people will have the time to visit the websites of each one to explore the details of what they have to offer.
If you rely on a simple Google search and focus only on the first results that come up, you may miss out on great suppliers who are disadvantaged by their competitors’ SEO skills. Comparison sites do the legwork for you by picking out the best known and most reliable suppliers, then showing you what makes each supplier’s product unique.
Keep Track of Pricing
The main reason most people will visit a comparison website is to check out the price of different brands and service providers. The sites are after all referred to as price comparison websites. No one ever wants to pay more than they need to.
Yet, price is dynamic and regularly changes. An item you considered expensive 6 months ago, may now be available at an attractive discount. Retailers regularly adjust prices to stay ahead of the competition. Using a comparison site ensures you are comparing the most current offers.
Whereas two products may purport to address the same need, they will rarely be identical in every respect. For example, if you check out a loan comparison site like personalloan.co, you’ll notice loans that offer the same interest rate may differ when it comes to the fees levied.
Comparison sites will drill down into the details of each product and even take into account the extras such as payment security, shipping cost, delivery speeds and refund policies. They force the sellers to lay their cards on the table allowing consumers to make a well-informed choice.
User Reviews and Ratings
Every seller will claim their product is the best in the market. So how do you distinguish sellers with a solid reputation and the ones who cannot walk the walk? User reviews and ratings.
Some comparison websites will allow customers to share their experiences. This is effectively free crowd-sourced market research. Nothing beats hearing the merits and demerits of a product from people who’ve actually used it for a while.
Establish Product Weaknesses
A seller’s primary goal is to sell. They therefore have little incentive to emphasize what their product cannot do. Comparison sites don’t just look at an item’s capabilities but also any gaps. You can use this information to make a conscious judgement call on what features you are willing to do without.
If you’ve not been using price comparison websites when deciding what to buy, you may be missing out on the best deals out there. That said, while there are numerous comparison sites being launched every day, they’re not all the same. You have to be certain that the site is using information that’s accurate, current and comparable.
Remember, many comparison sites are affiliated partners of the very products they compare. They earn a commission from any sale or click that originates from their site. Pay attention to overly salesy worded reviews that greatly emphasize the positives but gloss over the negatives. That’s why you shouldn’t go with what just one site says; check different comparison sites to establish that what one site considers the best is actually the best.