Surveys show that 95% of consumers read online reviews before they shop and 58% say they would pay more for the products of a brand with good reviews.
The growth of e-commerce platforms, driven by faster digitalization, is reshaping the customer experience across the board. At a time when confidence index is key, surveys show that 95% of consumers read online reviews before they shop and 58% say they would pay more for the products of a brand with good reviews.
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The growth of e-commerce platforms, driven by digital transformation, expands the choices available to consumers, while shaping their expectations from the brands. As the customer experience evolves, confidence in brands becomes an important factor. Shoppers now consider brand or product ratings and reviews more before they buy. According to online review statistics, 95% of consumers read reviews before they buy a product, while 67% say they wouldn’t trust a high rating unless it comes with many reviews. Helga Dosa, Founder of Brand Rated, a leading brand and product review discovery platform in the USA, said: “As digitalization gained more momentum with the pandemic, the number of online platforms also increased. Accordingly, consumer confidence index is evolving. We see that 31% of consumers read more product reviews during the pandemic, which shows that reviews influence purchasing decisions.”
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“83% of consumers consider trusted reviews”
“According to surveys, 83% of consumers say reviews must be relevant and recent to be trustworthy,” says Dosa. “Even though 57% of US shoppers consider online reviews to be helpful when making purchasing decisions, such reviews still need to meet various criteria such as objectivity, relevance, and recency to have a meaningful influence on the consumer. At this point, online review platforms have a lot of work to do. At Brand Rated, we provide consumers with a reliable reference point to find the absolute best products and services that the market has to offer.”
“58% of consumers would pay more to support a company with good reviews”
Helga Dosa, Founder of Brand Rated, adds that reviews are important for both consumers and brands, “In addition to influencing the consumers’ purchasing decisions, reviews can also be a helpful tool for the brands. A study into the state of online reviews found that more than half (58%) of consumers would pay more to support a company with good reviews. Therefore, brands care about product reviews as much as consumers, when it comes to building a robust image and driving sales revenues. This is where Brand Rated comes in because we make the shopping experience better and easier for consumers with our unbiased reviews and also help brands shape their prestige features according to the digital world’s requirements.”
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