Price comparison sites mean

June 2, 2005

the consumer really can be King Latest research from MINTEL finds Britain moving towards a retail world where the consumer really can be King. Consumers are now striving for ‘perfect information’, where all prices are transparent and the Internet is the ideal information medium for this. As a result almost two in five (36%) Internet users now visit price comparison sites, where shoppers can compare prices and product features before buying on-line. ” With consumers now using the Internet so avidly to compare prices this can only lead to lower prices and retailers becoming less able to exploit ignorance amongst buyers. Such pricing mechanisms suggest that the Internet is at the forefront of a drive towards ‘perfect information’ where all prices are transparent and consumers simply choose the cheapest option available to them, ” comments Neil Mason, senior retail analysts at MINTEL.

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