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Price Comparison Tools Boost Conversion for E-Commerce Websites

April 2, 2012 Different COMPARISON No Comments

imageIn iPerceptions’ Retail / E-Commerce Industry Report Q3 2010, an analysis of visitors’ explanations for failed task completion in the ‘Shop’ phase compared to those in the ‘Buy’ phase showed that pricing and comparison tools are a requirement early in the purchase process. ‘Clear pricing / Comparisons’ was mentioned 29% of the time as the main obstacle to task completion for visitors who came to shop, while it diminished in importance once visitors were ready to buy, mentioned only 6% of the time.

Online shoppers often search at the product level rather than by store. By the time a consumer is ready to make a purchase, s/he will likely have compared prices at alternative e-retail outlets. This fundamentally changes the nature of competition faced by e-retailers, who increasingly compete at the individual product level rather than across broad product categories. Thus, providing competitive price comparisons could be very beneficial, as visitors seek an online store that minimizes the amount of research required to find the best product at the best price.

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