Online price comparison engine, or better known as shopping comparison sites, are one of the biggest innovation on the internet since the introduction of online shopping system. Within this site, consumers can conveniently access different list of prices for various products offered in different online retailers. But instead of these comparison sites selling the products, they are mainly sourced out from retailers whom the consumers need to contact in case they wanted to buy a certain product from those listed on the site.
The different price comparison engine in the market has had much success, particularly in the UK wherein it has seen an annual growth percentage of 30-50%. Since the growth of the internet industry in the late 90’s, this has become a profitable industry. Initial price comparison services required downloads and installation. Today though, these shopping sites have been migrated to a single server such that anyone could easily access it.
One of the main reasons for the growth and popularity of online compare prices can be relegated to the increase of shopping portals on the internet. Indeed, most people are too busy nowadays to go out and purchase things that they need or want. Online shopping has therefore been there best alternative and sites like this optimize the convenience that one can enjoy. Aside from being able to check price listings, you can also look into the specific features and functionality of products offered within the site.
But instead of aggregating data feeds straight from the retailer sites, these compare prices engine services directly search and retrieve those data from individual retailer’s sites. Thus, all of the products and prices listed are updated in real-time.
In an effort to improve their central database, most firms who are behind this price comparison engine have looked into improving technology so they can incorporate more retail products into their website. There is also a search facility that enables consumers to search for specific products and compare prices. Those who advertise their product on the site do not pay for the listing, but only whenever a consumer clicks on the listed price. Sometimes, retailers also supply those data shown over the website to update all existing information on the website’s database.
With the continued growth of the compare prices engine, much like search engine optimization for website owners, a new subset into this service is known as mobile comparison shopping. There are different mobile applications that were pursued for this type of price comparison engine, such as SMS-based comparison, mobile web applications, and native client applications, which require installation though. Therefore, internet price comparison engine still remains to be the top choice amongst online shoppers.
Aside from the convenience of product and price listing being accessible in one site, another major advantage to a price comparison engine is that consumers or online shoppers can utilize the information within the site free of charge. The only way that the site earns is through each payment generated from sales made by retailers via the listed product on the site. Depending on the specific shopping comparison site, it could either be a flat fee or based on the number of clicks on the price list.