Savy in the digital world, e-commerce plays a vital role for the merchants as well as comparison shoppers to put the products at the virtual storefront.
For, the Price Comparison Website (PRICE COMPARISON WEBSITES), Comparison Shopping Engines (CSE’s) are channels for collecting product information including pricing, from participating retailers and then displaying that collective information on a single results page in response to a shopper’s search query. This lets shoppers compare prices, shipping options, and service from multiple retailers on a single page and choose the merchant that offers the best overall value.
Comparison Shopping Engines (CSE’s) works as 2 flips of coin from Consumer front and Business front.
Consumer front : This will show products stacked side-by-side in terms of pricing.
Business front : The e-commerce merchants pay a certain amount of fee, submit the required content (product photos, URL, price, description, etc.) and list the products. Upon search by the interested buyers the CSE shows up relevant searches along with comparable products ranked by price.
Some of the comparison websites are penned down :
- Google Shopping
- Yahoo Shopping
- MyShopping Datafeed
In addition to comparing prices a Price Comparison Website (PRICE COMPARISON WEBSITES), the consumer can also compare other important characteristics of the desired product/service.
Hence, the Price Comparison Website (PRICE COMPARISON WEBSITES) is benefited for both the seller as well as the customer.
Seller Benefits in PRICE COMPARISON WEBSITES :
- Expansion of sales channels
- Rapid increase in online traffic
- Voice of customer collection
- Benchmark product price and Benchmark product price difference
Customer Benefits in PRICE COMPARISON WEBSITES:
- Online stores in one platform
- Real time review from customers
- One click answer to the question where the cheapest product is
- Selection of most popular goods with various sorting of product offers
The other option for Price Comparison Website (PRICE COMPARISON WEBSITES) are AI-based products, the internet of things, 3D printing, block chain technology can meet the criteria other than smart phones and household appliances.
Price Comparison Website (PRICE COMPARISON WEBSITES) feature include:
- Search & Filters : Any purchase begins with product search and several ways to implement the feature are :
- Keyword-based search – be sure to provide various filters and the ability to sort search engine results (by rating, popularity, price, etc.). Among examples is the famous Google Shopping.
- Location-based search – The site displays goods/services on a map within a certain territory. Interested in examples of this kind of search? Pay attention to GasBuddy, a site helping users find the best gas prices (here the location issue is important, isn’t it?).
- Search on demand – The option isn’t the most convenient, but Kitchify, Parcel2go, Compare IP take advantage of it. The user fills out a special form, the comparison shopping website sends a request to vendors, and it’s up to them to satisfy the request made.
- Listings – Two components are important here:
– Comparison of listings -That is, the user wants to find a certain product (let it be a new smart phone). He enters the name and gets a list of options with the specified prices. Now he is free to choose what seems optimal and go to the listing details.
– Listing Details. Before moving to the sales site, the user would be glad to get acquainted with the main characteristics of the smart phone he is going to buy (in the end, the purchase is quite expensive).
- Price Update Alert- If the customer isn’t satisfied with the proposed price range, he may agree to receive notifications of price updates. So he’ll be able to track the price of the goods to make the desired purchase when it reaches the mark he needs. A feature can be implemented in the following ways:
– push notifications
– SMS (if the user is ready to indicate his phone number);
- Reviews – At least 90% of buyers trust reviews (almost the same way they trust the advice of friends), and therefore they readily read them before making the final choice. So such a feature will be in high demand.
- Price history – The feature is optional, you’ll manage to build a price comparison website and make it successful without it either. However many users will appreciate the chance to track price trends in a given time interval.
- Awards – You‘ll hardly be surprised that users love all sorts of rewards and bonuses. There are many options: cashback, gift cards, discount coupons, participation in the competition, etc.
- Scanning a QR code and bar code – which allows customers to compare prices in local stores using the smartphone’s camera.
Now you have a clue of what steps will help you get your site to compare prices online. If you’re ready to put words into action, take your time but don’t waste it in vain. We’ve told you everything you need to know in order to proceed.