According to a poll by The Foundation, online price comparison sites (like uSwitch) are the 6th best innovation of the decade.
I think uSwitch is in very good company in that list – we finish just after truly revolutionary innovations like home broadband and Google, and above low-cost air travel and recycling!
The 10 products/services that have contributed the most to Britons’ lives over the last decade:
1. Home broadband
2. Online shopping
4. Chip and Pin
5. Digital cameras/photography
6. Online comparison sites
7. Community Recycling
8. Health labelling on foods, e.g. traffic lights
9. Low-cost air travel
10. Consumer GPS/Sat-Nav
Data from The Foundation.
So why do we come so high on the list?
Well, I’d like to think that it’s because we help people and have made a difference to how they manage their finances!
There’s a very interesting post on the VirtualEconomics blog about the role of price comparison sites, which says: “Price comparison websites are good for customers. They compare prices, so you can see which deal is cheapest, and over the course of the past ten years the price of the cheapest products on them has therefore fallen to roughly the cost of providing them.”
I’m blowing our own trumpet a bit here, but before the advent of a site like uSwitch, can you image how many phone calls and how much leg-work it would have taken to get a quote for every tariff from every energy supplier to see which was cheapest?!
What do you think about the position of comparison sites on the list? Is there anything you think that should be on the list that’s been missed off?