Unsurprisingly, consumers trust online product reviews and ratings as much as personal recommendations. This article examines how online reviews influence consumers’ purchasing decisions, shopping journeys, and the valuation of products. First, let’s find out how reviews and ratings have affected buying habits in the United States. It’s not just about the price, either. Consumers rely on product reviews and ratings as much as personal recommendations when purchasing decisions.
Consumers trust online reviews more than personal recommendations.
A recent BrightLocal survey shows consumers trust online reviews more than personal recommendations when buying a product. However, the amount of influence that online reviews have varies by industry. In fact, 30% of younger customers say they use online reviews for every single purchase, while 19.7% of consumers between the ages of 45 and 68 report that they use online reviews for all purchases.
While only 5% to 10% of the population writes product reviews, these reviews are powerful in influencing the purchasing decision of prospective customers. In fact, a study from Revoo shows that 84% of consumers trust reviews more than personal recommendations, even if they aren’t written by the product’s manufacturer. Also, more than half of consumers consider bad reviews more authentic than perfect ones, and 61% of them will research the product even more if a product has an excellent five-star review. Besides, 85% of consumers leave reviews because they are trying to help others.
Some consumers trust online product reviews more than personal recommendations.
Consumers who trust online reviews more than personal recommendations are far more likely to purchase a product with several positive and negative reviews. On average, consumers read four to five reviews before buying a product, but the number is higher for products with more than one hundred. Despite these facts, consumers still prefer products with at least 40 reviews. Furthermore, they prefer products with at least five positive reviews from previous customers.
Studies show that consumers now trust online reviews as much as personal recommendations when purchasing products. One recent BrightLocal study suggests that consumers trust online reviews more than personal recommendations. However, they must be careful when reading reviews as they may be swayed by the number of positive reviews. Luckily, there are ways to combat negative reviews that still garner consumer trust. So, when you’re reading online reviews, you need to take advantage of the power of customer reviews! The results may shock you.
Studies also show that consumers don’t believe in “optimal” scores on online reviews. For example, a business can get a five-star score, but if a customer says the product is a “fake,” they will be less likely to buy it. However, a bad review can be a good thing. And it’s an easy way to win a customer over, whether your company sells white label crypto exchange software or flavored popcorn.
Online reviews influence a consumer’s purchase decision.
It is essential to consider the price impact of online reviews, particularly influential in the case of high-quality sellers. These reviews can reduce the product’s utility for consumers or increase it by softening price competition between sellers. This research demonstrates that online reviews can soften price competition and intensify it. This paper presents an example of this influence and illustrates the implications of this study for sellers.
Although word-of-mouth has long been the king of credibility in business, online reviews now have as much credibility as personal recommendations. If the review is authentic and high-quality, consumers will trust it. Avoid posting spammy reviews that may turn off consumers. Moreover, the impact of online reviews is enormous: one study found that 79% of consumers are hesitant to make a purchase without reading a review. A similar survey by BrightLocal found that 76% of consumers bought a product based on a review. However, the findings varied according to age.
While younger adults are strongly influenced by average consumer ratings, their perceptions change when the reviews are viewed in contrast to a one-star, well-written single review. The effect of negative reviews is more remarkable than positive reviews, while single negative reviews carry more weight. As consumers grow older, they change their cognitive abilities and emotions, making negative reviews less persuasive. In fact, negative reviews may exert a more substantial influence.
Online reviews influence a shopper’s shopping journey.
Another factor that consumers value is the length and depth of the review content. Sixty-one percent of shoppers say they read one to three reviews before making a purchase, and 39% of consumers say they read reviews before buying in physical stores.
Consumers trust online reviews more than manufacturer reviews. A recent study found that 84% of consumers trust online reviews as much as recommendations from friends. Consumers are increasingly relying upon the opinions of strangers, which explains why online reviews are a crucial marketing strategy for companies. Nearly half of all reviews are written by consumers. In addition, twenty percent of shoppers trust social media platforms such as Facebook or Yelp. After reading reviews about it, consumers are more likely to trust a brand, and a high-quality review can help increase a business’s credibility.
Again, personal product reviews only hold so much weight.
Consumers also believe in online reviews and trust these opinions over personal recommendations. One study by Lightspeed found that one to three bad online reviews would deter 95% of shoppers. The number of people discouraged by one or two bad reviews varied by age, but two to three bad reviews from a peer would be enough to sway 33% of shoppers aged 55-64 and just 10% of 18-24-year-olds. Moreover, reviews of films, games, and books tend to divide people. While reviews of electrical products, however, are more likely to deter some shoppers, they should also be read in context.
Consumers tend to believe positive reviews more than negative ones. A 50-word review on an e-commerce site can have the same impact as a personal recommendation from a close friend, but negative reviews can be hidden from view by site algorithms. In addition, positive reviews are more credible than negative reviews, as 75% of consumers trust a business that has received a positive review. In fact, reviews are one of the most effective e-commerce formulas.
Online reviews influence a shopper’s valuation.
In a recent study, nearly two-thirds of consumers say online product reviews and ratings influence their buying decisions. Moreover, they claim they read at least seven reviews before making a final decision. Consumers also tend to leave ratings on products they are interested in. This is the reason why product reviews are essential to the buying process. But what is the exact impact of ratings? How can they impact your bottom line?
Online product reviews and ratings contribute to a brand’s trustworthiness. According to a recent study by ReviewTrackers, 65% of consumers read thoughts directly from search results. As a result, reviews are becoming shorter. But one major flaw in online reviews is that companies often don’t respond to them quickly enough. While consumers expect businesses to respond to reviews within a week, nearly a fifth expect a response in three days or less. Consequently, marketers should focus on the top directories based on domain authority and reputation.
Consumers most commonly read product reviews and ratings because they want to make an informed decision. These reviews also provide information about a product, such as size, color, and texture. It is important to note that reviews are not necessarily positive; some are written by angry customers who have been disappointed with a product. However, positive reviews are typically much more likely to get published than those with negative reviews because consumers are in the process of being influenced by various factors.
Negative reviews are just as critical as positive reviews.
Although negative reviews may not seem like much, they are just as important as positive reviews. However, most consumers say that negative reviews contain more pros than cons. They also prefer reviews from people like them and customer photographs. These factors make a positive review more persuasive than one with only pros and cons. Moreover, reviews provide social proof for other potential customers. So, the more customer reviews there are, the more likely a shopper will buy a particular product.
It’s no longer enough for a brand to offer its own reviews. Instead, consumers seek out reviews from actual users. Besides this, reviews are important sources of valuable information for brands. With reviews, they can understand what consumers like and dislike and use them to shape their marketing campaigns. By incorporating them into the consumer’s journey, brands can gain trust and convert more customers.