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Britons Depending More On Internet Financial Product Comparison Sites

September 29, 2011: 12:00 AM EST
A Mintel research study has found that three out of five U.K. Internet users are ”most likely” to compare financial product prices online to save time and money. Thanks to the uncertain economy, busy schedules and scarcity of free time, price comparison sites have become “the most popular source of financial information in the U.K.,” especially for home and auto insurance, but increasingly for savings accounts and credit cards. In the last ten years, online services have leapt ahead of other information sources, including friends and family. Only 42 percent of survey respondents said friends and family were their top source of financial product pricing information. Forty-six percent of all Internet users have researched car insurance on a price comparison site, with 80 percent of those going on to buy coverage.
Sian Brenchley, et al., "Price comparison sites - it’s a click with 60% of Brits", Press release, Mintel Oxygen Report, September 29, 2011, © Mintel Group Ltd.
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