Google Is Shuttering Its Comparison-Shopping Site

March 18, 2016 written by
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Google is shuttering its comparison-shopping site for auto insurance, credit cards and mortgages after one year.. Google, whose parent company is Alphabet, has been running Google Compare in Britain for three years and started its highly anticipated United States site last March. Despite Google’s being the biggest name in search, insurance industry partners and an internal email said the sites never really caught on with consumers. The quick reversal is a setback to the Alphabet Inc. unit’s efforts to use its enormous reach to provide consumers with niche shopping services and financial-services tools

Google made money primarily on referral commissions from insurers and lenders. In some cases, the company was licensed to sell products directly to consumers.
Consumers often use multiple sites to compare and take a lot of time to make decisions on financial products, reducing the appeal of the service to advertisers who already buy traditional search ads, a person familiar with Compare said.

Google also failed to get some of the biggest insurers and lenders to participate, meaning shoppers received comparisons from only some potential providers. Insurance industry partners said Google left open the possibility of creating a new insurance product in the future.

 

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