The cost-of-living crisis is putting pressure on households to ensure their finances are ship-shape and that means shopping around for better deals.
That’s music to the ears of Moneysupermarket, which is clearly benefiting from the difficult backdrop as individuals seek better rates on credit cards and other financial products.
AJ Bell’s Russ Mould said: “It’s not all perfect though, as the energy switching market has effectively shut up shop on a temporary basis, and weaker consumer sentiment has trickled through to weaker demand for travel insurance.
“The net effect still swings in Moneysupermarket’s favour as revenue jumped by a third in the three months to 30 September, a greater rate of growth than the 24% revenue gain recorded in the first nine months of its financial year.
“Newspapers and mainstream news websites are full of stories giving personal finance tips and a large majority will recommend shopping around for better deals. Therefore, one might expect sales momentum to remain strong for Moneysupermarket well into 2023.”
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