Recession: A Hard Time for Comparison Online Portals

Few years ago, shopping online portals were launched with a great jubilation. The online retailers started earning hefty amount of money. Gradually, price comparing sites came into live with a vision to aid people to compare the prices of the same products on various retailers’ portals. The revenue graph of these sites certainly went high for a prolong time but contemporarily it is wavering with the tremors of the global economy downturn. Some of the victims of the hard hit recession market are Confused.com and Moneysupermarket.com. These price comparison shopping UK sites are among the top rankers when you count the reigning price comparison sites. But recently they started reviewing their budgets as they are losing out huge slumps of money.

According to reuters, Moneysupermarket.com is enduring a huge loss. It is hardly making profits. The last year’s figure shows that the site has a loss of £51m before even paying the adequate tax. This is incomparable to profits of £7.55m which it made in 2007. Peter Plumb, the chief executive of the website says that it would try its best to regain the loss from reviewing their cost base especially by closely observing their supporters and customers as well as by implementing effective plans.

Since every sector is getting affected with the storm of recession including travel, insurance, property and a host of others sites and also many of others finding it difficult to make money. Apart from these sites, there are a few which are making a little amount of money. These are the cashback sites which are still able to attract customers with the cashback offer. They are trying to make out the loss by taking advertising fess from the retailers. Both of them are trying hard to compromise on their profit making programs so that they can survive through the dark night of the current recession.