According to the statistics provided by idealo.es, an online price comparator, in Spain the price comparison strategy is used by up to 30% of Spaniards who visit physical stores. In fact, more than 51% of the study participants state that even they use this strategy to compare prices for services such as water supply, electricity and internet.
A savings trend applied by more than 70% of Spaniards
If we adjust all the statistics that were collected in said analysis, it can be concluded that 77% of consumers in Spain have indicated that they compare prices online before making a purchase, with the in order to save and limit monthly expenses. Of this number, 43% of those surveyed use online stores to find the best prices, while another 20% say they resort directly to online price comparators.
It should be noted that most of the consumers who resort to this strategy are millennials, who have expressed their hope of being able to maximize savings on their purchases before making a decision about whether or not to buy online. It is because this generation of adults has a closer relationship with the digital worldmaking it easier for them to take advantage of it.
On the other hand, the baby boomers they are the generation that has rarely used this strategy. In fact, 33% of them say they have never compared prices online before making a purchase. The reason behind this is that this is a generation with little technological contact, so they have limited knowledge about the culture of savings and also about the culture of promotions and reduced prices on a digital level.
The online price comparator, a crucial tool
Despite being used by the minority, online price comparators have proven to be of great help in this savings and consumption strategy. It is because allows you to activate product alerts to receive a notification when the price drops or changes of a selected item. Thanks to this function, many Spaniards have managed to save more than €100 on each online purchase they make.
Given the growing need of the Spanish to maximize their savings, it is not surprising that online price comparison tools have become so important in the market. They offer a fast and direct alternative to know the real price of each product, saving time and money at the same time. Due to this, the possible growth of use in the future would not be surprising.
This notion is supported by Kike Aganzohead of communication at idealo.es: “With 77% of respondents saying they compare prices online to save, it’s clear that the trend for consumers to search for bargains online is strong and growing, fueled by the current economic climate. Spanish consumers are increasingly aware of the importance of comparing prices to get the best possible deal on their internet purchases, which underscores the need for useful tools like idealos.es to help them in this task.”
The main elements of comparison: the trips are the most important
When we talk about online price comparison, many of us will imagine the price comparison of supplies and other household products. However, in Spain the price comparison strategy is mainly used in the travel category, with 92% of consumers comparing prices before buying. Closely followed by consumer products and then insurance.
Also, when it comes to specific products, consumers are very inclined to compare prices between slippers, televisions and refrigerators. However, it does not end here. This culture of online price comparison has also spread to public services and basic necessities, such as water supply, electricity and the internet.
