The internet has revolutionised the way we research and purchase the things we want to buy. But for some brands the ease and speed of price comparison has eroded value and produced ultra price sensitive consumers, who seem willing to discount quality and customer service.
My work is mostly financial services oriented and this is sector has been hugely effected by this trend. Aggregators like Confused.com and Moneysupermarket.com have enabled customers to find the cheapest deals for grudge purchases like home & motor insurance.
For me his poses a number of questions;
1) Will this one dimensional customer behavior change overtime as people realise the the old adage, 'You get what you pay for'?
2) How do aggregators & price comparison sites provide a more balanced selection criteria that enables customers to make more broader informed decisions about their purchase?
3) Is it not possible for online companies to deliver excellent products & services at a keen price? John Lewis is a quality UK department store chain famous for it's price matching policy 'Never knowingly undersold'. If you could find the same item for sale in another store they would refund the difference. A great USP that they have supported for years, but interestingly it doesn't extend to their website.
The internet is capable of delivering so much more....