The website will be positioned against comparison websites such as Kelkoo. Users will be able to input the product they are interested in and compare any retailer or website to find the best prices and deals.
Over time, it may be possible for users to access the website by responding to red-button prompts on TV ads, either through interactive TV or by accessing the web via internet protocol TV.
ITV has approached digital agencies with a brief to pitch for the task of building the website.
The winning agency will also develop online advertising once the website launches.