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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Table of Content
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
View Full Report With TOC@ http://www.researchmoz.us/web-aggregators-in-financial-services-uk-june-2013-report.html
Table of Content
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
Online Trends
Key points
Three quarters of over-16s now have access to the internet
Figure 9: Internet users, Q1 2011-Q1 2013
Smartphone usage continues to grow
Figure 10: Personal ownership of mobile phones, January 2012-April 2013
A fifth of adults manage their finances on smartphones
Figure 11: Information-finding activities performed online in the past three months, by device, April 2013
The majority of adults have shopped online
Figure 12: Online shopping activities performed in the past three months, by device, April 2013
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
Online Trends
Key points
Three quarters of over-16s now have access to the internet
Figure 9: Internet users, Q1 2011-Q1 2013
Smartphone usage continues to grow
Figure 10: Personal ownership of mobile phones, January 2012-April 2013
A fifth of adults manage their finances on smartphones
Figure 11: Information-finding activities performed online in the past three months, by device, April 2013
The majority of adults have shopped online
Figure 12: Online shopping activities performed in the past three months, by device, April 2013
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Email: sales@researchmoz.us
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