European Financial Comparison Shopping Continues To Grow

Nearly four in 10 European online financial product researchers used financial comparison sites last year — a number that has grown from 29% in 2007. Comparison sites play an increasingly important role in online financial services distribution because they provide what online researchers are looking for, are trusted more than financial services firms by some customers, and generate substantial profits. They are pushing hard to expand by building their brands, improving usability, and introducing new services to create loyalty. eBusiness executives should make comparison shopping a fundamental element of their online strategy by picking one out of three basic strategies — resistance, collaboration, or adoption — and differentiate on factors other than price.