July 14th, 2023, Kineree Shah
One-third of global adults across 43 international markets have turned to price comparison websites when buying mobile phones (34%), according to data from YouGov Global Profiles. With this notable segment of consumers harnessing the power of price comparison tools, in this piece we delve into the consequent actions they undertake.
Two in five (40%) consumers indicate that they have changed suppliers as a result of visiting price comparison websites. A third (33%) have elected to change products, while still remaining with the same provider. Over half (52%) felt reassured that they already have a good deal. One in seven (15%) say the experience is somewhat confusing. A little over a fifth (22%) are concerned they do not have a good deal but find the process of switching daunting, which could represent an opportunity for telcos to win over new consumers by marketing easy-to-switch plans.
In the US, where less than one in five (17%) adults visit price comparison websites, the picture shifts slightly. Over two in five (43%) have chosen to change suppliers, a slight increase compared to the global average. Nearly two in five (38%) have changed their product while retaining the same provider. More than half (56%) have left feeling reassured they already have a good deal, while about a quarter (24%) are concerned but hesitant to make a switch. About one in seven (14%) find the process confusing.
In Britain, a similar trend emerges with nearly one in five (19%) adults using these websites. Interestingly, British consumers are more likely to switch suppliers, with nearly three in five (58%) having opted for this action. Only about one in five (22%) have changed products while retaining the provider, a drop from both the global and US figures. Less than half (43%) are reassured they have a good deal, while a small fraction, just over one in ten (11%), are concerned but avoid switching.
The UAE shows the most drastic difference in behavior with two in five (42%) adults utilizing price comparison websites. Close to half (48%) have switched suppliers, and an equivalent number (41%) indicate they have changed products while sticking with their existing provider. Nearly half (49%) are reassured they have a good deal. Interestingly, nearly a third (31%) express concern about their current deal but feel overwhelmed by the idea of switching. One in four (25%) describe their experience as confusing, a significant increase compared to other markets.
Over in India, nearly half of all adults have visited price comparison websites, and their subsequent actions vary. Close to half (46%) switch suppliers, and a similar percentage (39%) change products while retaining the same provider. Roughly half (48%) leave reassured that they have a good deal, and nearly a third (31%) are concerned but resist switching. About a quarter (24%) admit to being confused by the process.
Lastly, in Denmark, where two in five (41%) adults use price comparison websites, the actions taken diverge from other markets. Only nearly one in three (32%) have switched suppliers, and an even smaller percentage, roughly one in eight (12%), opted to change products while sticking with their existing provider. Two in five (41%) are reassured they have a good deal. Only a small percentage, about one in fourteen (7%), express concern but avoid switching.
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Methodology: YouGov Global Profiles is a globally consistent audience dataset with 1000+ questions across 48 markets. The data is based on continuously collected data from adults aged 16+ years in China and 18+ years in other markets. The sample sizes for YouGov Global Profiles will fluctuate over time, however the minimum sample size is always c.1000. Data from each market uses a nationally representative sample apart from India and UAE, which use urban representative samples, and China, Egypt, Hong Kong, Indonesia, Malaysia, Morocco, Philippines, South Africa, Taiwan, Thailand and Vietnam, which use online representative samples. Learn more about Global Profiles.
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