Price comparison investigation due
Price comparison sites! The Competition and Markets Authority (CMA) are coming for you, as they want to look at how you go about your business!
The CMA want to make sure that price comparison sites are actually maximising the benefits for consumers, and they're going to air some grievances in the meantime.
So what at the main focuses going to be for the watchdog? The CMA are looking at broadband, home insurance, credit cards and flights, and looking specifically at the arrangements between providers and suppliers that sell through these sites.
If they get wind of any restriction of competition arising because of people selling through sites, there'll be trouble.
You may remember that the CMA decided that comparison sites didn't need to show consumers the cheapest deals, which mystified pretty much everyone.
Well, this study is a chance for the watchdog to revisit all that... and they better sort it out, or we're faced with comparison sites only showing deals they get a commission on, rather than the ones that actually serve consumers the best.
Some of the sites they'll be studying are Compare the Market, uSwitch, and Go Compare. There's others of course.
Andrea Coscelli, CMA acting chief executive, said: "Digital comparison tools have played a big part in changing markets for the better, bringing new ways of doing things and forcing businesses to up their game."
"Consumers have benefited as choice and access to goods and services have grown."
TOPICS: Consumer Advice