Do you really need to be present on a price comparison site?

What is price comparison site?

A price comparison site is a type of a search engine that evaluates the prices of similar merchandize and suggest related links to users for making a better buying decision. Price comparison site may also be referred to as a shopping search engine.

This no doubt allow shoppers to find the best deal, saving a good amount of money on every purchase they make, but what about sellers? Do they really need to be present on price comparison sites?

To avoid confusion, let me present you the benefits and drawbacks of a price comparison site that will make it easy for retailers to best judge if they really need to be present on a price comparison site?

Benefits

1. Today, any and every shopper looks for the best and a much reasonable deal when shopping online, and the best place to look for it is the price comparison site. Thousands of shoppers visit price comparison sites on a daily basis. So, if retailers list their products line in one or even multiple well know sites like “Shopzilla.com,” “Google Shopping,” “Price grabber,” just to name a few- their products line will be visible to those thousands of shoppers. This way retailers can expand their reach to a large mass of audience and potential customers.
2. For start-ups and small retailers, their products will be listed alongside with bigger brand. This way price comparison site put small retailers in a more equal footing with big names, increasing the chances that shoppers will choose to purchase from smaller brands. Also, shoppers who visit the price comparison site, they look for the price more than brands.
3. Shoppers who visit price comparison sites are potential customers who already know what they want to buy. So, listing products on such sites will reduce marketing overheads as you need not market and get shoppers to your site, instead they are coming to you!

Drawbacks

1. With hundreds of retailers active on price comparison sites, there are chances of your data been shared with other websites. It becomes easy for retailers to search for the products line you sell and see exactly who you are competing with and what makes your product line special.
2. Most of the price comparison site cover just a portion of the market, hence you may miss out many potential customers and reduce the chances of sales.
3. Its likely, you may not receive the best deal. Your product line may not be listed in the best order for you, and even chances of your best selling products being excluded.
4. Many price comparison sites who request for login and payment details, may turn out to be a great fraudster.
5. Some price comparison websites allow you to buy then and there. But many offer lists and links through to individual suppliers. This often makes a shopper rethink their choices, and even if they consider clicking the link from the price comparison site, it may be turn out to be fake.
6. Many comparison sites are just money-making sites, through sponsored links. Therefore, the search result of those sites will show sponsored links ahead of non-sponsored results that may offer a better deal.
7. A price comparison sites may sometime land up reviews and rating for your product line without any explanation. So, if you fall a prey of this, it becomes difficult to stand out in the crowd.
8. There are also price comparison websites that will only allow you list products, but in case you have a issue or complaint, they may not be open to you it, leaving it unresolved.

Conclusion

With the above pro’s and con’s, I’m sure you can better judge if you really need to be present on a price comparison site.