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What consumers want from comparison shopping

Many consumers won't shop around unless it saves them some serious cash, typically 10 percent or more of the purchase price. In a recent survey, consumers were asked how much they would have to save on various products to make comparison shopping worthwhile for them.

It turns out most of them could save more than they said they needed if they would only try.

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Here's a look at various products and how much those consumers said they would have to save to get them to comparison shop.

Product Needed Savings
Regular, unleaded gasoline, 10 gallons
$2
Two-day car rental
$25
Plane ticket, round trip
$75
Auto insurance, annual premium
$100
Term life insurance, annual premium
$75
Color TV, 27-inch
$50

Long-distance phone service, one year

$50
New car priced at $20,000
$2000
New car loan, interest and fees
$500
Used car priced at $5,000
$500
Source: Consumer Literacy Consortium

 

-- Posted: April 28, 2003
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See Also
Save hundreds in minutes with comparison shopping
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How long it took to save on purchases
Financial advice glossary
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