How review volumes and news impact shopping behavior, based on insights from more than 9.000 consumers and analysis of activity on more than 1,5 million e-commerce product pages across 1.200+ branded and retailers.
A survey by The Power of Review reports the importance to consumers of product review volumes and review frequency when shopping online.
Key findings include:
Consumers value and expect recent reviews.
97% of consumers feel that having recent reviews is at least somewhat important when considering a purchase.
64% of consumers say they are more likely to buy a product with fewer, more recent reviews than if it had a higher volume of reviews published three or more months ago. This number is even higher – 69% – among boomers.
86% of shoppers think the recency of reviews is more important when considering a product or brand they haven't purchased before.
Ideally, nearly half (44%) of consumers want to find reviews written in the past month.
The availability of recent reviews (or lack thereof) impacts purchasing behavior.
- About 38% will not buy a product if the only available reviews were published three months ago or more.
- 62% will not buy a product if the only available reviews were published a year ago or more.
Buyers pay attention to the volume of reviews and have high expectations.
- 79% of consumers consider the volume of reviews “always” or “regularly” when reading this content.
- In an ideal world, 23% say products should have 500+ reviews. However, they are willing to settle for less. Nearly half (45%) say a product must have a minimum of 1 to 25 reviews for them to feel comfortable buying it.
- Consumers expect a lot of criticism, but typically read a lot less. Most shoppers – 69% – read between one and 25 reviews when considering a product.
A high volume of reviews affects the likelihood of purchase.
- 80% of consumers are less likely to buy a product if it doesn't have reviews. This number is even higher – 92% – among buyers of Generation Z.
- 64% of consumers are more likely to buy a product that has more than 1.000 reviews than one that has 100 reviews (assuming the average star rating is the same). Significantly more – 80% – of Gen Z say this is the case.
- More than half (54%) of consumers are more likely to buy a product with 10.000 or more reviews than one with 1.000 reviews. The number is even higher – 73% – among Gen Z shoppers.
It's time to multiply your sales
A high volume of reviews positively impacts conversion.
- There is a 296,2% increase in conversion among shoppers exposed to 5.000 or more reviews compared to those exposed to no reviews.
- Visitors exposed to more than 5.000 reviews convert at a rate 122,1% higher than those exposed to between one and 100 reviews.
A high volume of reviews affects the conversion lift of products in all categories, including:
- Consumer Packaged Goods (CPG)
Health and beauty
Drink
Motorsport and motorsport
Consumer electronics and home appliances
Clothing & Accessories
Toys
Home and garden, machines and tools and furniture
How it is possible to better understand the volumes of reviews and the news impacting purchase behavior of your e-commerce and understand that receiving positive reviews can be the key to success for your business.
And with that, GoBots can help you. The use of artificial intelligence, such as that of GoBots, is essential to reduce the average response time, optimizing your team's work and creating a reliable standard of information to customers, and consequently improving the communication with its customers and seeking to leverage their evaluations.
