Consumers turn to internet to save cash

 

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By Matthew Sparkes

Posted on 16 Jul 2008 at 09:01

The credit crunch is driving more traffic to online price comparison sites as consumers turn to the internet to stretch their money further.

"With prices rising and the credit crunch biting, consumers are taking more time to find the best deals online," says Robin Goad, research director of traffic analysis firm Hitwise in a blog post.

Traffic to price comparison and voucher sites has risen by 37% in the past 12 months, with visitors rising by over a fifth in the last two months alone, claims Goad.

Although the cost of most household bills has risen in recent months, broadband has bucked the trend.

"Broadband bills have plummeted by over 60% in the past 18 months while gas and electricity have risen by 15% and are set to rise further by the end of the year," says Jessica McArdle, a spokesperson for price comparison Top 10 Broadband.