Consumers Depend on Reviews
Consumers' dependence on reviews has increased over the past three years according to a new white paper from PowerReviews.
The PowerReviews study, "The Growing Power of Reviews," reveals insights into consumer behavior, their shopping habits and how they rely on authentic user-generated content.
Perhaps the most noteworthy findings from the report arethat 97 percent of consumers consult product reviews while 85 percent of consumers seek out negative reviews before making a purchase.
Additional highlights from the study include:
+ Over one-third of shoppers won’t purchase products in a brick-and-mortar store without first consulting reviews.
+ Today, 50 percent of consumers write reviews for products they’ve purchased, an increase from 42 percent in 2014.
+ The majority of consumers read between one and 10 reviews before making a purchase.
“Customer reviews have changed the way shoppers research, discover and purchase products both online and in-store. Brand-provided information is no longer enough. Today’s consumers have come to expect easily accessible information to aid their purchase decisions, and the number of shoppers who rely on information from fellow consumers increases each year,” said Matt Moog, chief executive officer, PowerReviews.
“Our survey found that reviews have a larger impact on purchasing decisions than recommendations from family and friends, the brand of the product and the availability of free shipping.”