There’s only one way we can lower the chances of buying a faulty product, getting scammed, or experiencing any other unpleasantness associated with modern shopping — looking for reviews online. Our online reviews statistics show just how much we rely on others’ experiences.
While spending a small country’s annual budget on advertising is common practice for large businesses, sometimes there are simpler and much cheaper options available. Online reviews are one of those options. It’s a shame when a company with superior products and a large user base doesn’t take advantage of this advertising option.
How effective are online reviews? Let’s find out:
Online advertising often achieves the complete opposite of its intention; instead of drawing new customers in, it forces them away. This is why online consumer reviews as an alternative are crucial for success, especially for small businesses.
When searching for a product or a service to buy, and before visiting a physical store, 9 out of 10 shoppers search for business reviews online. The latest online reviews statistics suggest that 88% of those shopping online do the same. Customer service statistics provide more info on the subject.
User reviews are a powerful thing; just one positive online review can boost conversions by up to 10%. The impact of having a larger number of positive reviews is even more astonishing: 100 of those result in an increase of 37%, while 200 reviews can lead to a 44% surge in conversions.
When choosing a new doctor, a dentist, or any other sort of medical care, almost three-quarters of us have looked for reviews online. Why do people trust online reviews? Probably because others’ positive experiences bring us comfort and trust, especially on topics as important as our health.
(Digital Commerce 360)
Reviews of businesses by consumers are much more likely to be useful to the younger generations; Gen X and Baby Boomers are 99% less likely to choose a restaurant based on reviews online and/or social media than Gen Z and Millennials.
Compared to cheaper items, more expensive products are more likely to sell if reviews for them are displayed. Conversion rates increase by 190% for less expensive products, while more expensive items see their conversion rates soar by up to 380%.
Customer reviews can be as important as the recommendations we receive from friends and family. The number of reviews it takes to earn consumer trust is not high; 68% of them take 1-6 reviews to form an opinion. Our customer loyalty statistics offer more data on the topic of trust.
There aren’t a lot of people out there who can’t be persuaded to trust a business more if it has positive reviews. Recent online reviews trends indicate that 74% of customers trust a local business more if it has positive reviews. Around 21% of those surveyed say that their decision making is not affected by reviews they read online.
(Small Business Trends)
Two-thirds of Americans would rather trust an Internet stranger than their ex-boyfriend/girlfriend, at least when it comes to product or service recommendations. This applies to both positive and negative reviews.
Business online reviews stats show that the majority of consumers will disregard older reviews. For reviews to stay relevant, they need to be recent, with up to 40% of consumers only taking reviews from the last two weeks into account.
If there are no reviews available for a business, the majority of consumers become skeptical. 92% of them hesitate to trust that business. This means that you can significantly boost your business if you increase positive online reviews.
Those in the restaurant business that manage to increase their Yelp rating by a single star can expect a noticeable bump in profits. This applies to independent establishments rather than chain restaurants.
(Harvard Business School)
Here’s a valuable piece of data for those debating whether asking for reviews is tacky or not — just 14% of shoppers wouldn’t be willing to consider leaving a review for your business. Company reviews by customers are a priceless item to have in your business’s inventory.
Most of those visiting restaurants would be happy to leave a review. Online reviews facts list the ways customers prefer to leave those reviews:
Some businesses have a tougher time getting their customers to leave a review. Banks are one of those businesses. Online review statistics suggest that just 18% of consumers are likely to leave a review, even in the case of a positive experience with a bank. Do people even read the reviews for banks?
We seem to follow the Twitter method of interacting online, using as few characters as possible. In addition to the average online review getting shorter since 2010, online review statistics suggest that Google is now where 60% of consumers go to leave or read reviews.
Emailing consumers after they’ve made a purchase is a good practice; the majority of reviews originated this way. Consumers trust online reviews more if they’re recent and there’s more of them.
(Spiegel Research Center)
Businesses that want to reach the top of the Google search results should pay attention to this one; experts estimate that reviews significantly contribute to the inner workings of Google and other search engines.
While choosing where to eat, almost two-thirds of consumers turn to reviews online to help them make the right choice. Here’s a list of the most popular platforms for customers reviews:
(816 New York)
Online reviews statistics can end the debate whether the star rating system is better than written reviews — 94% of consumers typically go for written reviews, while 73% say that written reviews have more impact on their decision than ratings based on stars or numbers.
(Fan & Fuel)
The majority of younger shoppers would read a local business review online. When older generations are taken into account, 86% of all consumers read through the reviews.
Shoppers aged 18-24 expect products to have an average of 203 user reviews. The issue of how to encourage customers to write reviews becomes even more pressing when other age groups are considered:
Businesses that buy from other businesses also rely heavily on reviews. Online review statistics further suggest that 92% of them are more likely to buy a product or a service after reading a positive and trusted review. You can learn more about this and related topics by checking out our customer retention statistics.
After doing their research and going through user reviews, just 22% of shoppers end up being disappointed with their purchase. To compare with those who don’t look for reviews, 82% of people experience buyer’s remorse.
Local businesses with negative customer reviews should be trying their hardest to avoid any new bad feedback. Just 5% of potential customers aren’t paying much attention to online business reviews.
(Small Business Trends)
This piece of data clearly explains how online reviews influence sales; a single negative online review can drive away over a third of potential customers.
(Fan & Fuel)
Consumers trust reviews that are higher than 3.3 stars. 63% of consumers are willing to pay more for a product if reviews assure them they’ll have a good experience. Just 13% of consumers would consider using a business that has a low rating.
Online review stats find that, even after a business is recommended to them, 4 in 5 consumers won’t make a purchase if the business has negative reviews online. Our sales statistics offer more interesting information on the topic.
Some businesses tend to get a bit too excited about new sales that come with positive reviews, so they fake a few of them. Fake online review statistics show that up to 92% of those aged 18-34 have read a fake review in the last year, probably without realizing it. Review trust and integrity is something that every business serious about keeping its customers should maintain.
Here’s a tip to identify false reviews: they commonly use repeated exclamation points to emulate enthusiasm.
Looking for bad reviews can help us find the drawbacks of a product or a service. This is why so many people search for negative feedback before making a purchase. Online reviews stats indicate that even B2B buyers do this, with 72% of them saying that bad reviews give them insight into a product.
Online shopping is one of the greatest conveniences of our time. That said, it does come with a few negatives. There’ll always be people who try to con us in some way and avoiding them and their business is what concerns most of us. For this reason and more, online reviews statistics showcase how we come together to prevent this from happening.