The global price comparison website market is estimated to grow at a significant CAGR during the forecast period. Rising internet penetration is resulting in an increasing trend towards search engines., including price comparison websites, which led the consumers to look for products online that suits their requirements. As per the World Bank, 56.7% of the population using the internet in 2019, increased from 49.9% in 2018.
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As a result, the rising inclination towards price comparison websites has been reported over the years. A price comparison website comprises multiple brands and merchants to compare the prices of similar products. Consumers can compare and pay the lowest price to buy desired products. These price comparison engines list the stores that sell the desired items while looking for a favourite product.
The main cause for the use of these websites for price comparisons is that the consumers can locate the greatest deal by looking for hundreds of quotations from several suppliers. A small company can offer the service which consumers want to buy at a significantly lower price. Price comparison services combine product price information on different websites and show this information, enabling users to select a store for purchase depending on price.
Price comparison websites are online shopping search engines used prominently. These sites display price comparison, feature reviews and other factors by using the customers’ filters. These websites are also known as a website for comparison, pricing analysis instrument, shopbot and a shopping comparison engine. The main driving force behind the market expansion is the rising e-commerce industry.
The most important price comparison services use feeds from the websites of suppliers to minimise the risk of price inaccuracies and missing. Price comparison engines offer prospects for new companies and improved revenues for many internet-based merchants, therefore partnerships between suppliers and comparison websites are useful in this field. In the direct feed model, companies give their application programming interface (API) access to comparison providers to supply data straight from the source.
The use of feeds from a third-party API service provider is another extremely common method for comparison providers to collect up-to-date product and services prices. Third parties scan the most popular retail websites and provide comparison provider access to their current price database. By reducing development and integration costs, the use of a third-party service provider can save time and money for comparison providers. The third-party will however charge the provider for the comparison based on the data volume and the fees can rapidly increase if excessive demands are made.
Global Price Comparison Website Market Segmentation
By Product Type
- Promo Codes
- Printable Coupons
- Cash Back Offers
- Others
By Application
- Insurance
- Retail
- Travel and Tourism
- Others
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Price Comparison Website Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- BizRate
- PriceGrabber
- Google Shopping.
- com.
- Shopzilla
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