The internet site, called MySupermarket, calculates which store is offering the best promotions that week, allowing customers to compare and switch supermarkets in a bid to save pennies.
"By using MySupermarket, it will be easier for you to find the items you want. And with our 'save more' feature you'll be able to get your trolley for less money," says the internet site.
The site offers online customers an impartial price comparison service between supermarkets such as Asda, Ocado (Waitrose), Sainsbury's and Tesco. Customers can select the items they want to put into their online trolley and then compare the same trolley between supermarkets, making competitive in-store promotions even more important.
"Our aim is to help shoppers get the best possible price for their supermarket trolley while enjoying an easier and more consumer-friendly shopping experience," says the site.
However, the site does not currently provide online shoppers with a facility to comment on the quality of a supermarket, or to be able to express any form of loyalty, comparing products based simply on price, weight or size.
MySupermarket is tapping into a growing trend towards e-commerce. Latest research by Mintel suggests the European online retail market will be worth €115bn by 2010, accounting for five per cent of retail shares.
Internet sales in the UK are currently the largest at €9.79bn per year, with Germany second on €9.71bn and then France with €6.5bn. Collectively they make up two thirds of the €40.2bn EU e-commerce market.
MySupermarket Limited is a private company, owned by a group of private UK investor's ands MySupermarket employee's.