Do you end up paying more while shopping online? Not knowing where to find the best prices and deals can always be exhausting for your nerves as well as your budget. Using price comparison websites helps one quickly and easily compare prices of the same product from multiple online retailers. This way, customers can get the best deals and prices without any hassles, saving time and money.
Statista reveals that 14.1% of global retail sales were eCommerce purchases in 2019, and the figure is estimated to increase to 22% in 2023. This shows how rapidly customers are switching to online shopping. With the crippling economy, fast-paced life, and worldwide rising inflation, shoppers have become extremely vigilant and now choose to compare prices before making a purchase be it online or in-store.
According to a study from 2020 by Oberlo, approximately 59% of consumers when shopping at physical retail stores prefer comparing prices online before buying. The second annual Major Purchase Shopper Study by GE Capital Retail Bank claims that 81% of online consumers choose to compare prices before making a big purchase.
Find the Best Prices
In a world where prices of even homogeneous items are widely dispersed, price comparison websites such as Google Shopping, Smartprix.com, and Prislo have empowered consumers and have become crucial for managing budgets and time.
These websites use a comparison shopping engine (CSE) that maps the same product between thousands of stores, helping users find the lowest prices as well as best-rated sellers online within seconds and simultaneously in one place.
Shopping online for groceries, electronics, clothing, cosmetics, or anything in between using price comparison websites can help save hundreds of dollars annually. There are several other benefits these sites provide.
Price Alerts: Never Miss a Deal
Price comparison platforms allow users to set up price alerts that allow them to track prices for a product and notify them when prices drop. You don’t have to keep checking in at the store to see if a product has gone on sale! Alerts are sent in the form of an email or push notification from the price comparison website.
Price alerts can also help keep track of sale promotions and discounts during major sale events like Black Friday and Cyber Monday and keep tabs on whether retailers are offering genuine deals. Some price comparison websites will even provide individual shipping costs from different retailers, which can further reduce the overall cost of the purchase.
Greater Choice: Find Alternatives
Since price comparison platforms aggregate thousands of online stores, they offer greater choice and variety compared to online stores. This makes them a great starting point for your search. Users can compare features, prices, and reviews of different products, which can help them make informed decisions about which product to buy, and ultimately save money by choosing the best option.
Prislo has over 25 million products from 3,500 online stores aggregated from 6 different countries. Google Shopping offers advanced results filtering that can help users shop according to brand, price range, and availability equipping them with the relevant information required to make the right purchase for themselves. This is highly useful for students who are on a tight personal budget when searching for the lowest prices on books and electronics.
Family expenses have grown rapidly due to rising inflation creating a drastic need in parents to save money wherever possible, seasonal sales on children’s clothing, toys, and sweet treats can help curb monthly expenses. Growing small businesses can benefit from wholesale discounts on office supplies, equipment, and other business-related expenses using price comparison websites.
Identify hidden costs
Some online retailers may offer low prices on products, but they may add hidden costs such as shipping fees, taxes, or other charges at checkout. Price comparison websites can help users identify these hidden costs and factor them into their purchasing decision.
Time Your purchases
Price comparison websites can also help users time their purchases to take advantage of seasonal sales, discounts, and promotions. By monitoring a product’s price history, a common feature on price comparison platforms, users can plan their purchases to coincide with the best deals and save money in the process.
In conclusion, price comparison websites can be an effective tool for online shoppers to save money by finding the best deals, avoiding hidden costs, finding alternatives, and timing their purchases to take advantage of sales and discounts.