Every now and then, a new price comparison website emerges on the European market bringing basically same service to thousands of potential customers that will “save on mortgage/credit card/loans etc”. Price comparison websites are incredibly convenient for users, saving them hours of surfing through numerous websites of banks, credit providers, etc.
This week it’s Moneysupermarket vs Confused.com, and Comparethemarket.com. I chose those as they have been advertising heavily on TV in the last 2 months. With easy access, constantly increasing Internet penetration and decreasing prices from Internet providers more people can really save some money by taking advantage of online price comparison tools. Let’s take a look at three aforementioned providers on European market.
Comscore Statistics for Moneysupermarket vs Confused.com vs Comparethemarket.com
At first glance it’s obvious that Moneysupermarket is dominating European price comparison market (mainly UK and Republic of Ireland).
- Moneysupermarket.com has impressive 3,083,000 Total Unique Visitors* with slightly dropping YOY% change (-1.4%) which is mainly due to growing competition inspired by their revenues. To give you an idea how much revenue and profit they’re generating, see their financial report available here.
- Comparethemarket.com has over two times less Total Unique Visitors – 1,287,000* per month. Yet, their yearly growth (+37.5%) shows they are not only saturating the demand in this channel, but also might be one of the reasons Moneysupermarket.com has practically not grown in the last year. If you look closer on the graph, even though they’ve grown in the last month, they’re trying to regain market share they started loosing in August 2010.
- Confused.com is third in this comparison. I will take a closer look at them again soon as I’m genuinely interested myself how their website will perform in the long run. Currently, according to Comscore, they have 1,132,000 Total Unique Visitors* with very high yearly growth (21%). Below stats from Compete.com aren’t that reliable as they provide better statistics to U.S.-centered apps and websites. Despite being focused on European markets they are still getting some traffic in the States.
Have you been using any of price comparison websites recently? A couple of days ago I’ve used it myself for my future father-in-law as he was convinced he was getting quite good deal for his current car insurance provider. Turns out, we not only found a better company for his insurance (well known, established brand and very good customer service) but also saved over 100 Euro. Let me know if you’re interested in any specific dataor want to see more players on financial market. Please share this post if you found it useful.
Artur Szalak: Hi Kimberly,
As far as I remember the devs of that app mentioned that ...
Kimberly Siebert: p.s. my images were small, as they were taken at with my Droid X, as a...
