Sorry for interrupting, this website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Learn more
Accept & Close

Web Aggregators - UK - October 2009

  • More than 24 million people have used a price comparison site to purchase financial products or to obtain quotes.
  • Consumer loyalty is fairly low in the aggregator market - with more than 14 million people having used three or more different price comparison sites.
  • Almost five million people use price comparison sites as a research tool, but then buy directly from their selected company.
  • Around 7.5 million aggregator users regard a well-known or reputable brand as important consideration when searching for financial products.
  • Finding the lowest price tops the list of major considerations for people using an aggregator to select a financial product, but it is closely followed by concerns about the level of cover.
  • 8 million users believe that price comparison sites provide an impartial and unbiased service, but around 7.5 million have concerns about their market coverage.

What you get

What's included

Why buy from us?

Succeed

Our reports will provide you with market data, consumer research and competitive intelligence to succeed in your market.

Instant Access

Buy now and you'll have instant access to the information you need to make the right decisions.

Opportunities

Find out what's next in the markets that matter to you: where opportunities lie and what challenges you will face.

Trusted

A business Superbrand, Mintel is a source you can trust. We have been defining and refining the Market Intelligence mix since 1972.

Table of contents

  1. Issues in the Market

      • Key issues
        • Report definitions
          • Note on consumer research
            • Abbreviations
            • Future Opportunities

              • Standing out in a crowded marketplace
                • Maintaining a role as choice editors
                  • Moving beyond general insurance
                    • Converting browsing behaviour to sales
                      • Catering for different priorities
                      • Market in Brief

                        • More than 24 million have used financial aggregators
                          • Figure 1: Number of adults who have purchased financial products online or used a price-comparison site, September 2009
                        • Online trends drive aggregator growth
                          • Moneysupermarket.com tops list of most visited aggregator brands
                            • Figure 2: Share of unique visitors to major price-comparison sites, three-month average, August 2009
                          • The last 12 months
                            • Aggregator usage is dominated by general insurance products
                              • Figure 3: Products purchased or quoted for through a price-comparison site, September 2009
                            • Key consumer findings
                            • Online Trends

                              • Key points
                                • More than seven in ten adults have internet access
                                  • Figure 4: British internet penetration at home/work/place of study or elsewhere, Jan 2003-July 2009
                                • Price-comparison site usage remains flat through 2009…
                                  • Figure 5: Types of activity undertaken on the internet in the last three months, October 2008-July 2009
                                • …but financial aggregators report growth in visitor numbers
                                  • More than two fifths look online before making a purchase
                                    • Figure 6: Agreement with statements about researching and buying on the internet, 2005-09
                                  • Price-comparison sites have become a major channel of advice
                                    • Figure 7: Most popular sources of advice for a range of financial products, June 2009
                                  • Price-comparison sites are dominant source of advice within the general insurance sector
                                    • Figure 8: Preferred sources of advice when arranging financial products, by type of product, June 2009
                                • Recent Market Developments

                                  • Key points
                                    • Sector consolidation begins…
                                      • Figure 9: Aggregator event timeline, 1997-2009
                                    • …but white labelling may still offer some scope to expand comparison services
                                      • Aggregators under scrutiny…
                                        • …and there’s more to come
                                          • Attempts to establish an aggregator trade body…
                                            • …but fledgling trade body appears doomed to failure
                                              • A lack of transparency may undermine consumer confidence
                                              • Trading Environment

                                                • Key points
                                                  • The impact of the recession
                                                    • Figure 10: Recession implications for finance aggregators, 2009
                                                  • Aggregator revenue streams
                                                    • Main insurance markets – premium growth continued in 2008
                                                      • Figure 11: Value of the domestic motor, home and travel insurance markets, by GWP, 2003-08
                                                    • Demand for consumer credit remains low
                                                      • Figure 12: Gross consumer credit lending, 2003-09
                                                    • Mortgage lending continues to struggle…
                                                      • Figure 13: Gross secured lending, by type of loan, 2003-09
                                                    • …but the savings market looks set to prosper
                                                      • Figure 14: The savings ratio, 2000-14
                                                  • Competitive Context

                                                    • Key points
                                                      • Aggregators dominate general insurance distribution
                                                        • Figure 15: Preferred methods of arranging insurance for the listed general insurance products, September 2009
                                                      • Aviva takes control over its direct business
                                                        • Direct Line remains offline with aggregators
                                                          • Some consumers remain convinced that direct is best
                                                            • Cashback sites may pose a threat to price-comparison sites
                                                              • Combining price-comparison and cashback sites
                                                              • SWOT Analysis

                                                                  • Figure 16: Web aggregators, summary of strengths, weaknesses, opportunities and threats, October 2009
                                                              • Trade Perspective

                                                                  • Participating companies
                                                                    • The impact of the recession
                                                                      • Aggregators under scrutiny
                                                                        • Improving loyalty in the price-comparison sector
                                                                          • Consolidation in the market
                                                                            • Future challenges and developments
                                                                            • The Size of the Target Market

                                                                              • Key points
                                                                                • More than 24 million adults have used a financial price-comparison site
                                                                                  • Figure 17: Number of adults who have purchased financial products online or used a price-comparison site, September 2009
                                                                                • ABC1s aged 35-44 are main aggregator target group
                                                                                  • Figure 18: Target groups identified for people who have purchased financial products online or used a price-comparison site, September 2009
                                                                              • Aggregator Site Usage

                                                                                • Key points
                                                                                  • Moneysupermarket.com tops the rankings for visitor numbers
                                                                                    • Figure 19: Share of unique visitors to major price-comparison sites, three-month average, August 2009
                                                                                  • Comparethemarket.com records a steady increase in users
                                                                                    • Figure 20: Unique visitors to top four price-comparison sites, June 2008-August 2009
                                                                                  • Consumer research findings provide a different perspective
                                                                                    • Figure 21: Usage of price-comparison sites among aggregator adopters, September 2009
                                                                                  • Loyalty is lacking in the aggregator market
                                                                                    • Figure 22: Usage of price-comparison websites, by number of price-comparison websites used to obtain quotes/compare prices or to buy financial products, September 2009
                                                                                • The Key Players

                                                                                  • Moneysupermarket.com
                                                                                    • Confused.com
                                                                                      • Gocompare.com
                                                                                        • Comparethemarket.com
                                                                                          • Tescocompare.com
                                                                                          • Brand Advertising and Promotion

                                                                                            • Key points
                                                                                              • Aggregator adspend soars despite difficult economic conditions
                                                                                                • Figure 23: Overview of advertising expenditure in aggregators market, 2006/07-2008/09
                                                                                              • Search engine optimisation is a major marketing focus
                                                                                                • Top four brands account for 90% of market adspend
                                                                                                  • Figure 24: Advertising expenditure by selected aggregators, 2006/07-2008/09
                                                                                                • The Meerkat effect
                                                                                                  • TV advertising dominates aggregator adspend
                                                                                                    • Figure 25: Advertising expenditure, by media type, 2006/07-2008/09
                                                                                                  • Car insurance is the focus for leading aggregator advertisers
                                                                                                    • Figure 26: Breakdown of adspend, by NMR categories – top five aggregators only, 2008/09
                                                                                                • The Consumer – Product Ownership and Online Purchasing Behaviour

                                                                                                  • Key points
                                                                                                    • Almost three quarters have bought financial products online…
                                                                                                        • Figure 27: Products purchased online or through price-comparison sites, September 2009
                                                                                                      • …and almost two thirds have used a financial aggregator
                                                                                                        • Scope for expansion beyond general insurance
                                                                                                          • Figure 28: Products purchased or quoted for through a price-comparison sites, September 2009
                                                                                                        • Aggregator usage peaks among 35-44-year-olds
                                                                                                          • Figure 29: Price-comparison usage, by age and gross annual household income, September 2009
                                                                                                        • Product ownership trends influence aggregator usage
                                                                                                          • Figure 30: Financial products arranged, quoted or purchased using a price-comparison site, by gender, age, current marital status and region, September 2009
                                                                                                        • Aggregators appeal to ABs and higher earners
                                                                                                          • Figure 31: Financial products arranged, quoted or purchased using a price-comparison site, by socio-economic group, gross annual household income, daily newspaper readership and daily personal internet usage, September 2009
                                                                                                        • Aggregator adopters represent good cross-selling opportunities
                                                                                                          • Figure 32: Financial product ownership, by online buyers and aggregator users, September 2009
                                                                                                      • The Consumer – Usage of Financial Aggregators Websites

                                                                                                        • Key points
                                                                                                          • Confused.com and comparethemarket.com top aggregator usage list
                                                                                                              • Figure 33: Usage of price-comparison sites, by aggregator adopters, September 2009
                                                                                                            • 58% of aggregator adopters have used three or more websites
                                                                                                              • Figure 34: Number of price-comparison websites used to obtain quotes/compare prices or to buy financial products, September 2009
                                                                                                            • Confused.com has most loyal users
                                                                                                              • Figure 35: Usage of price-comparison websites, by number of price-comparison websites used to obtain quotes/compare prices or to buy financial products, September 2009
                                                                                                            • There is significant overlap in users between the top four providers
                                                                                                              • Figure 36: Cross-analysis of aggregator site usage, September 2009
                                                                                                            • Different brands appeal to different audience
                                                                                                              • Figure 37: Most popular usage of price-comparison websites to obtain quotes/compare prices or to buy a financial product, by demographics, September 2009
                                                                                                            • Moneysupermarket.com and uSwitch users have strong cross-selling potential
                                                                                                              • Figure 38: Financial product ownership, by price-comparison site usage, September 2009
                                                                                                            • Moneysupermarket.com has a strong reach beyond the general insurance market
                                                                                                              • Figure 39: Usage of price-comparison sites, by product purchased or quoted through a price-comparison site, September 2009’
                                                                                                          • The Consumer – Buying Behaviour

                                                                                                            • Key points
                                                                                                              • Search engine optimisation plays a key role in aggregator market…
                                                                                                                  • Figure 40: Approach to using the internet to research or buy a financial product, September 2009
                                                                                                                • …but aggregator brands are gaining ground
                                                                                                                  • 35-44-year-olds are the most likely to go straight to an aggregator website
                                                                                                                    • Figure 41: Most popular approach when using the internet to research or buy a financial product, by gender, age, socio-economic group and household income, September 2009
                                                                                                                  • The influence of moneysavingexpert.com
                                                                                                                    • Consumers take a different approach for different products
                                                                                                                      • Figure 42: Financial products purchased online, by approach to using the internet to research or buy a financial product, September 2009
                                                                                                                    • Price and cover top list of considerations for aggregator users
                                                                                                                        • Figure 43: Most important considerations when using price-comparison sites, September 2009
                                                                                                                      • Gender and age influence aggregator priorities
                                                                                                                        • Figure 44: Most popular factors when using price-comparison sites to compare prices/obtain quotes or purchase financial products, by gender, age, socio-economic group and household income, September 2009
                                                                                                                      • How important are brands to aggregator users?
                                                                                                                        • Figure 45: Next most popular factors when using price-comparison sites to compare prices/obtain quotes or purchase financial products, by gender, age, socio-economic group and household income, September 2009
                                                                                                                      • Targeting the unconverted
                                                                                                                        • Figure 46: Most important factors when using price-comparison sites to compare prices/obtain quotes or purchase financial products, by approach when using the internet to research or buy financial products, September 2009
                                                                                                                    • The Consumer – Attitudes towards Aggregator Sites

                                                                                                                      • Key points
                                                                                                                        • Aggregator users are attracted by time-saving benefits
                                                                                                                            • Figure 47: Attitudes towards price-comparison sites, by online buyers and aggregator adopters, September 2009
                                                                                                                          • Slight differences in attitudes between users of different brands
                                                                                                                            • Figure 48: Attitudes towards price-comparison sites, by usage of price-comparison websites to obtain quotes/compare prices or to buy financial products, September 2009
                                                                                                                          • Converting browsing behaviour to sales
                                                                                                                            • Figure 49: Most popular statements on price-comparison websites, by approach when using the internet to research or buy financial products, September 2009
                                                                                                                          • Target group analysis
                                                                                                                            • Figure 50: Target group analysis, attitudes towards aggregators, September 2009
                                                                                                                            • Figure 51: Online purchasers and aggregator adopters, by target groups, September 2009
                                                                                                                          • Aggregator enthusiasts
                                                                                                                            • Price-driven aggregator supporters
                                                                                                                              • The disengaged
                                                                                                                                • Anxious about aggregators
                                                                                                                                • The Appendix – The Consumer – Attitudes towards Aggregator Sites

                                                                                                                                    • Figure 52: Target groups, by demographics, September 2009
                                                                                                                                    • Figure 53: Ownership of finance products, by target groups, September 2009
                                                                                                                                    • Figure 54: Statements on price-comparison websites, by target groups, September 2009
                                                                                                                                    • Figure 55: Most important factors when using price-comparison sites to compare prices/obtain quotes or purchase financial products, by target groups, September 2009
                                                                                                                                    • Figure 56: Usage of price-comparison websites to obtain quotes/compare prices or to buy financial products, by target groups, September 2009
                                                                                                                                    • Figure 57: Approach when using the internet to research or buy financial products, by target groups, September 2009

                                                                                                                                Companies Covered

                                                                                                                                • Advertising Standards Authority
                                                                                                                                • Argos
                                                                                                                                • Asda Group Ltd
                                                                                                                                • Association of British Insurers
                                                                                                                                • Aviva Plc
                                                                                                                                • Bank of England
                                                                                                                                • Bebo Inc
                                                                                                                                • BGL Group
                                                                                                                                • British Market Research Bureau (BMRB)
                                                                                                                                • British Sky Broadcasting Group plc (BSkyB)
                                                                                                                                • Co-operative Group
                                                                                                                                • ComparetheMarket.com
                                                                                                                                • Council of Mortgage Lenders
                                                                                                                                • Daily Mail
                                                                                                                                • Direct Line Group Limited
                                                                                                                                • E. W. Scripps Company, The
                                                                                                                                • Facebook, Inc.
                                                                                                                                • Financial Services Authority (The)
                                                                                                                                • FriendsReunited
                                                                                                                                • GoCompare
                                                                                                                                • Google UK
                                                                                                                                • Lidl (UK)
                                                                                                                                • Marks & Spencer
                                                                                                                                • MoneyExpert Ltd
                                                                                                                                • Moneyextra
                                                                                                                                • MoneySupermarket.com Limited
                                                                                                                                • MySpace.com
                                                                                                                                • Office of Fair Trading
                                                                                                                                • Outdoor Advertising Association of Great Britain
                                                                                                                                • PriceRunner UK
                                                                                                                                • Royal Bank of Scotland Group plc
                                                                                                                                • Saga Group
                                                                                                                                • T-Mobile (UK) Ltd
                                                                                                                                • Tesco Plc
                                                                                                                                • Virgin Media Ltd
                                                                                                                                • Virgin Mobile
                                                                                                                                • Vodafone Group Plc (UK)
                                                                                                                                • Yahoo! UK & Ireland
                                                                                                                                • YouTube, Inc.

                                                                                                                                Web Aggregators - UK - October 2009

                                                                                                                                US $2,842.31 (Excl.Tax)