By Aimee Chanthadavong

Building on a two and half year relationship, Australia’s leading comparison shopping site has been acquired by News Digital Media.

Chris Hitchen, Getprice chief executive officer, explained to Retailbiz that the acquisition will allow Getprice to take advantage of News’ existing portfolio.

“News has significant assets in both traditional and online media and we see that as great opportunity to take an existing model to increase our reach,” he said. “It will help us access our audience and help retailers get in front of a bigger audience.”

Founded in 2005, Getprice helps consumers make informed purchasing decisions by enabling them to research products and compare offers from round 1,000 retailers including Apple, Dell, Dick Smith Electronics, Bing Lee, Clive Peeters, Ted's Cameras, ABC Store, Big W, Rebel Sport, Officeworks, Surf Dive 'n' Ski, Supercheap Auto and Flight Centre.

Hitchen said the acquisition was part of News’ strategy to build and diversify its portfolio and take advantage of online retailing. 

“Some of News’ biggest advertisers are retailers and as those guys become more focused on online shopping and e-commerce rather than advertising in newspapers, News needed to make sure that it has something in the digital space to offer and Getprice is already engaged in that,” he said.

“In the past people talk about online shopping as a silo but rather it’s helps underpinn businesses so it’s a significant investment by retailers to go online.

“Online shoppers buy more often and they spend more and in the US and UK, where online retail presence is more mature, they get that and we think Australian retailers are starting to get that too.”

To remain and operate as a separate entity, Getprice will expand in four tiers in the coming month, Hitchen said.

“One is improving the useability of the existing Getprice website; second is a mobile presence in mobile shopping by making the service available on more handsets; the third thing is a marketing campaign as we want to tell Australians about the great service and we’ll be launching a campaign to do that; and fourthly, our focus will be on using News’ assets and business portfolio to increase our reach.”