The latest report from Roy Morgan Research reveals that visits to comparison sites are heavily influenced by ‘likelihood to switch’ by consumers, with the research finding that over three million Australians visit a comparison website in an average four weeks – equivalent to almost 15% of Australians aged 14-plus.
According to the research, Australia’s leading comparison website is Finder.com.au, visited by over 1.2 million Australians in an average four weeks, closely followed by Choice.com.au, visited by over 1 million.
Other leading comparison websites include Canstar/Canstar Blue visited by nearly 730,000 Australians in an average four weeks, Comparethemarket.com.au, visited by almost 430,000 and iSelect, visited by just under 400,000 Australians.
According to the research, nearly a quarter (23.4%) of Australians say they are either "very likely" or "quite likely" to switch gas providers visit a comparison website in an average four weeks – a slightly higher rate than for those who say they are either "very likely" or "quite likely" to switch fixed broadband providers (22.4%).
Roy Morgan says the trend also holds true for Australians who are likely to switch mobile phone service providers (19.2%), electricity providers (19.2%) and home phone providers (18.8%).
Roy Morgan chief executive Michele Levine says comparison websites are attracting a wide variety of Australians and provide a useful service for those who may be unhappy with their current level of service and looking for an alternative.
“Over three million Australians visit a comparison website in an average four weeks, representing 14.8% of Australians aged 14 and over or just over one in seven Australians,” she says.
“Two comparison sites have established themselves as ‘go to’ places on the web to compare and contrast different service providers across a range of industries. Over 1.2 million Australians visit Finder and over 1 million Australians visit Choice in an average four weeks.
“Of course, not all of the leading comparison websites listed are after the same clientele. The Canstar comparison website specialises in comparing financial industry product offerings across a range of finance and insurance companies.
“Canstar is particularly popular amongst dissatisfied customers of financial institutions. Dissatisfied customers whose main financial institution is a big four bank are more than 50% more likely to visit Canstar, as well as Choice and iSelect, than the average Australian.”