Brits who shop online are missing out on £4.6 billion worth of savings each year by not shopping around to compare prices, according to new research commissioned by retail price comparison site Pricesearcher to mark the launch of its new browser extension.
The research reveals 48 million Brits shopping online could each save £95 a year by comparing prices.
Clothing was the only retail area to see online sales growth in the three months to April, supporting the findings that Brits are most likely to shop online for clothes (58%), followed by books (44%) and items for their home and garden (35%). A total saving of £1.1 billion across the UK could be made across these three popular retail categories. The top three retail categories boasting the biggest savings are auto parts, jewellery, and DIY – with average savings of £186, £33, and £32 respectively.
Shockingly, only a third of Brits (34%) are aware that Google Shopping only displays paid listings. Pricesearcher is on a mission to show online shoppers all possible purchasing options and prices for the products they want to buy.
With the largest ever index of products to search from, online shoppers can visit Pricesearcher to compare prices on over 150 million different products – including those from Amazon and eBay – as well as prices from high-street retailers, brand sites, online sellers such as ASOS, and deal sites such as Groupon.
For the 92% of Brits shopping online every year, Pricesearcher has launched a free online browser extension; a tool which works in the background checking over 10,000 websites. For any of the 150 million products in its index, Pricesearcher’s extension checks which other retailers are selling the same product, and at which price. The extension will let the shopper know all their buying options instantly, alerting them to better prices, with a simple message that appears on the screen.
“Our mission is simple; to give online shoppers peace of mind they will pay the right price for a product. Despite the vast online shopping world, it is more common for shoppers to go straight to the website they want to buy from, rather than shop around, compare prices, and bag the best deal. Even worse, most Brits don’t know that Google Shopping – for example – only displays paid listings. No retailer pays to appear on Pricesearcher; our free platform encourages them to showcase all their products, giving shoppers total price transparency and the complete view of all their buying options, in one place.
“We save people time and money by checking prices from over 10,000 websites on 150 million products, and by downloading our new browser extension Brits can rest assured they’ll be alerted to better prices if they are available.”
-Sam Dean, chief executive officer and founder of Pricesearcher.