Consumer-generated content dominates the digital purchasing behavior
The consumer is constantly online, whether at home, in the office or on the road. Buying decisions are being prepared more and more online, no matter where the shopping takes place at the end. This makes product reviews crucial for online as well as offline purchases. And this ultimately also determines the success and failure of a product.
Customer reviews dominate along the customer journey
Product reviews determine the buying decision
In addition to price, product reviews are the most important information. They give orientation and help the consumer with the purchase decision.
In a study conducted by Tomorrow Focus, 92% of respondents indicated that ratings are giving guidance and 81% said that ratings increase confidence in an offer. For 78%, ratings have an impact on the purchase decision.
Active review management increases sales
Product reviews have a direct impact on conversion and sales. According to a study by BIG Social Media in cooperation with Bosch Siemens household appliances and the Chair for International Business Administration and E-Commerce of the HTW Aalen, products with positive ratings reach an average increase in sales of 30%. Manufacturers can improve the tonality of the ratings with simple measures. 55% of the negative reviews may be influenced with e.g. improved product descriptions or product titles. Hence, the direct, product-related customer feedback can and should be actively used by manufacturers.
Amazon is information source #1
Consumers use Amazon as the primary source of information, even before Google, ebay or other eCommerce players, according to ECC Cologne in the study “Cross Channel – Quo Vadis” 2017.
48% of offline buyers, who informed themselves online before buying, did this at Amazon. For online purchases, 62% previously researched at Amazon.
This is particularly pronounced in the consumer electronics sector, where 70% of all consumers research at Amazon before purchasing online and 36% before they purchase offline.
Credibility of ratings
Numerous publications repeatedly point to the fact that a mixture of positive and negative ratings makes the credibility and therefore also the relevance of reviews.