January 3, 2006

Financial Price Comparison Sites Catch On

A Third Of The UK's Online Financial Researchers Use Price Comparison Sites

by Benjamin Ensor

with Martha Bennett, Ashara Giordanelli

Executive Summary (This is a document excerpt)

Savvy financial consumers love Internet price comparison engines. In the UK, 15% of consumers used a price comparison engine to research their most recent financial purchase — up from 6% three years earlier. Financial firms will avoid price-driven commoditization by differentiating through service, not trying to prevent comparisons. Leading firms will embrace comparisons to regain customers' trust and loyalty.

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