97% of consumers say online reviews influence their buying decisions. Consumers who read reviews are more likely to buy an item if they see a positive review. Nearly 60% of Internet users read online reviews – this represents more than half the reviews worldwide. Yelp and Facebook are utilized by 20% of shoppers. The average consumer says they trust a business after reading at least ten reviews.
Reviewers are more likely to make unusual purchases.
People who write reviews for online retailers are likelier to buy substantial sizes, return items, and make more purchases than other consumers. Reviewers are also more likely to be married and have more children. However, they are less likely to be wealthy or have a graduate degree. And they are four times as likely to purchase products than non-reviewers. So what does this mean for retailers? The following are some ways to improve your online business.
When shopping online, reviews from other consumers are the second most trusted source behind family and friends. ReviewTrackers’ survey of more than 3,000 consumers revealed that reviews from fellow consumers are a powerful influencer on purchasing decisions. As a result, consumers will be more likely to buy from online retailers if they read reviews posted by others. However, it’s essential to recognize that this behavior will vary.
They are more likely to return products.
Consumers who leave online reviews are more likely to purchase the product they review and spend four times longer on the site. In addition, compared to consumers who don’t leave online reviews, people who write them are more likely to convert: higher-priced products convert better when they have reviews, while lower-priced items have better conversion rates. Furthermore, online reviews significantly influence purchasing decisions: consumers who write reviews are willing to pay more and spend 50 percent more on a product than a non-reviewed product.
Consumers prefer lots of reviews. One review can make an opinion, whereas a few dozen positive reviews can create consensus. A study found that a product with five to 10 positive reviews is more likely to be purchased than a product with zero reviews.
Moreover, online reviews influence purchase intention. The study also found that the language used in online reviews significantly influenced consumers’ purchasing intentions. When the reviews are more literal, they create a more substantial social presence and a higher likelihood of purchase. This is in line with the fact that symbolic reviews can enhance consumers’ purchase intention. Therefore, a study of the relationship between online reviews and purchase intentions will shed light on the importance of language in this relationship.
Consumers trust online reviews over advertisements on television, social media, and display ads. While 53% of consumers expect companies to respond to negative reviews within a week, 63% do not receive a response within that time. Companies that don’t respond to negative reviews quickly will ultimately lose customers. Moreover, 96% of consumers read the answers given by a business. In addition to online reviews, consumers also trust online reviews more than reviews from manufacturers.
They are more likely to shop sales.
Consumers tend to ignore products without many positive reviews, but that doesn’t mean negative reviews are irrelevant. On the contrary, studies have shown that a product with many positive reviews is more likely to be purchased than a product without many. For example, a manufacturer of children’s play products called KidKraft used syndication to gather over 56,000 reviews on its products and rolled those out across 50 retail sites. The result was a network of ten thousand reviews and 100% review coverage from retailers.
Consumers trust online reviews more than the opinions of retailers and manufacturers, and 97% of consumers say that reading customer reviews influences their buying decisions. Even though only 5% to 10% of consumers write reviews, they control more than $400 billion of e-commerce sales. More than 60 percent of online users read reviews, including Google, which accounts for nearly half of the reviews published online. In addition to Google, social networks like Facebook and Yelp are also trusted by consumers. In fact, after reading five to ten reviews, consumers are more likely to trust a company if it has a good reputation.
Consumers spend four times more time on websites with reviews than those without. Reviews also increase a product’s conversion rate. For example, higher-priced items convert at a higher rate than cheaper ones. Consumers also pay more for higher-rated products with reviews. Whether a product is priced high or low, online reviews influence the purchase decision for 67.7% of shoppers. Additionally, many people are willing to wait for a product with an excellent online review.
They are more likely to trust a business.
Consumers trust online reviews as much as personal recommendations. Almost three-fourths of online shoppers say that the number of reviews they read can make them more likely to trust a business. But, first, you must reassure consumers that the reviews are genuine because only 25 percent of consumers say they can trust online reviews if they believe the writer is trustworthy.
The benefits of online reviews cannot be overstated. According to a study by BrightLocal, nearly three-quarters of consumers say that online reviews influence their purchasing decisions. In addition, consumers report that online reviews are more trusted than personal recommendations or word-of-mouth, a statistic that may not be surprising. Nonetheless, a business must leverage good online reviews to boost sales.
Consumers don’t want to read reviews that are too old or too new to be accurate. However, they may consider reviews from one year ago if the business has changed dramatically. Therefore, the most recent reviews are likely to be the most accurate representation of current experiences. A study found that nearly half of consumers said that recent reviews only influenced their buying decisions in 2020, compared with only twenty-two percent in 2021.
While customers don’t trust companies immediately, they trust their peers and read online reviews before making a purchase. Almost 50% of millennials say they “always” read online reviews before making a purchase. Positive reviews so persuade them that they trust the company. So, what are the benefits of reading online reviews? First, they increase trust and sales and ultimately boost customer satisfaction.
They influence booking decisions.
Recent studies have shown that online reviews are a significant factor in hotel booking decisions. Over 47% of travelers spread reviews about their experiences online. While these reviews may be inconclusive, they can play a vital role in influencing future travel decisions. A recent study by TripAdvisor found that more than half of hotel guests use online reviews to influence their travel decisions. And while hotel reviews can affect booking decisions, they do not necessarily affect pricing.
In addition to influencing hotel revenue, online reviews also influence travelers’ booking decisions. This is because travelers do not want to regret their booking. Therefore, hoteliers and destination managers must understand the importance of reviews. Reviews can act as a negative or positive multiplier and impact revenue inflows. One Bright Local study found that a hotel would only be attractive if six or more positive reviews. This suggests that hoteliers must adopt an online review management strategy. Otherwise, they are missing out on a critical source of revenue.
Interestingly, the study also found that consumers often rely on online reviews when making travel plans. The research team studied 23,000 TripAdvisor users to determine how online reviews affect travel decisions. A large majority of respondents said that online reviews influence their travel decisions. The study also found that people are more likely to book a hotel after reading a review than without looking at it. It also revealed that reviews on travel websites are more relevant than ever because of their broad and objective travel content.