Unfavorable Price Comparisons Still Benefit eBusinesses

from the consumers-aren't-stupid dept

In the latest example showing that consumers aren’t as stupid as many companies think they are, a study suggests that companies which put competitor pricing info on their website for comparison shopping purposes tend to sell more products – even if their prices aren’t the lowest. It turns out that people take into account more than just the price (though, this almost definitely depends on what type of product is being sold). Consumers know that there are competitors out there, and by displaying competitors pricing as well, buyers are saving time, and also tend to view the company as more “trustworthy” to deal with.

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