In the modern era of technology, the virtual world have taken over our lives. Nowadays shopping for clothes, accessories, booking tickets, hotels, stock market everything is online, and this new trend has become our necessity. In these virtual stores of possibly everything the Price Comparison Websites are playing a crucial role in saving our time and money and receiving the best value for our money.
Price Comparison Websites are the price analysis tools that a customer uses to filter and compare a product based on different criteria including price, features, reviews and many more. Most comparison-shopping websites do not sell the product directly instead they aggregate product listings from many different shopping websites and retailers.
How Does Comparison Shopping Websites Work?
These websites collect data directly from the shopping websites and the merchants who wants to list their products and prices and supply on their own through the websites. The costumers compare their desired product by the help of these websites and get the best possible prices to pay
These price comparison websites typically do not charge its users anything to use the site instead they charge the retailers and the shopping sites who have listed their product on their websites. Depending on the particular website’s policy the retailers either pay the fixed flat payment charged by the website for the retailers subscriptions for a specific amount of time or they pay every time the users clicks through the retailer’s website or pay on a specified action of the user such as the purchase of a product or their registration.
BargainFinder was the first widely recognized price comparison website developed by a company named Andersen Consulting in 1995. It was launched as an experiment without informing the retailers and the e-commerce websites that they were being compared. This was the beginning of the huge revolution in the e-commerce business. Which led to one after another price comparison websites that started to increase the business of the retailers one step further and giving the users the best value of their time and money.
Some of the top most Price Comparison Websites in the present time are Sitepricechecker, Google Shopping, Shopzilla, Shopping.com, Brizrate., Promto, Trivago, Amazon Sponsored products, Scandid, etc . These websites helps us filter process and features of products, travel tickets and holiday packages, Insurance, credit card values, hotel booking and many more on a regular basis and making our life so much easier by saving our time and money
Merits and Demerits
There are many advantages of price comparison websites. These websites allow its users to find the best deals and prices on the desired products by comparing hundreds of different e-commerce sites simultaneously. Finding a good product ant best can be time consuming on different websites. The price Comparison websites saves us a lot of time by searching, comparing and finding us the best possible deal. Also because hundreds of websites can be compared on a single platform in the minimum time it gives the users so many choices too.
However, there are also certain drawback as not all the companies use these comparison websites this may cause the user missing out the best deals and quotes offered by certain companies that are not listed on the websites. Also having a massive amount of choices may overwhelm the user that can cause the user even to buy unwanted products or may not purchase any product at all this removes the personal touch.