Web Aggregators in Financial Services - UK - June 2013 Key Industry Report, Investment Services and Market Share Report

Web Aggregators in Financial Services - UK - June 2013 Size and Share Published in 2013-06-24 Available for US$ 3555 at Researchmoz.us

Description

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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

Introduction

Abbreviations and definitions

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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

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