Global Compare Group has announced the acquisition of the international, data-led, eCommerce comparison shopping business, PriceMe.
The award-winning, Deloitte Fast 500 business, known locally as NZ Compare, says PriceMe complements its stable of brands, consisting of the comparison websites Broadband Compare, Power Compare and Money Compare, and their online voucher site FreeVoucherCodes.co.nz. The company says the acquisition will round out the business, allowing it to service its expanding client base and reach more shoppers during the critical product selection and purchasing decision-making time.
"Whilst last year's lockdowns and restrictions were challenging for our business and many others, the move into eCommerce comparison for NZ Compare couldn't come at a better time," says Global Compare Group CEO, Gavin Male.
"The pandemic has rapidly accelerated the growth of online shopping in New Zealand, and consumers are now shopping online with greater confidence and becoming increasingly savvy in where, and how, they purchase their goods and services. Local online retailers are performing increasingly well as their expertise and knowledge expand in response to consumer demand."
He says the opportunities are there for Kiwi companies to grab market share and drive greater return on investment and advertising spend by adopting additional, performance-based marketing channels like those offered through PriceMe and NZ Compare.
PriceMe's team of ten staff members will be joining the NZ Compare team, with additional hires planned for early 2022 to drive continued growth. The PriceMe acquisition brings several client relationships into the NZ Compare fold, including Harvey Norman, Farmers, PB Tech and The Warehouse.
"PriceMe couldn't be in safer hands than with NZ Compare," says PriceMe co-founder, Henrik Johansson.
"We began to explore a working relationship with NZ Compare back in 2020, and as conversations progressed, it became obvious that full integration of the two businesses was going to deliver the best result for consumers. NZ Compare's user-centric approach resonates with what we have built with PriceMe over the last ten years, and we're thrilled to pass the mantle of PriceMe to Gavin, Alex (CTO) and the NZ Compare team and look forward to seeing how the business develops."
NZ Compare launched in June 2016 with the award-winning broadband comparison site Broadband Compare before expanding into further vertical markets. Following the acquisition of PriceMe, the group will maintain over 400 key retailer relationships across power, broadband, retail and finance and is forecast to deliver more than a million shoppers to NZ retailer websites in 2022.
The acquisition brings additional operations in a number of APAC countries that will enhance the business's international expansion plans and give Global Compare Group a footprint in several overseas territories, including Australia, Singapore, and the Philippines.