One of the two co-founders, Daniel, said: “This success wouldn’t be possible without Loox’s world-class solution. We’ve collected thousands of reviews [...]”.
That being said, it’s no wonder that a hundred reviews displayed on your store can increase the conversion by 37%.
But that’s not the end of the good news.
Nearly 60% of all customers would pay more if the company has good reviews.
In fact, 31% of consumers spend even more on products that have excellent online reviews.
Are you selling higher-priced products? Great!
According to research, expensive goods convert better by 380% if they have reviews.
If you’re brave enough to combine negative reviews and positive ones, you can increase sales by 85%.
Negative reviews are not necessarily a bad thing. Everyone has them. But trying to turn the bad ones into positive reviews can be worth the effort. Even if it’s a long and slow process.
Increasing the star ratings of your products by 0.1 can already increase your conversions by 25%.
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Online Review Statistics #3: It's All About The People
Depending on your target audience, online reviews will affect your business differently.
First things first, gender doesn’t matter at all. Male and female shoppers are equally likely to write a review.
Let’s say you’re selling products to 25 - 34 year olds.
More than 50% of that particular audience writes online reviews about businesses or products. That’s a lot. For every two sales you’re making you’ll get one review.
Around two thirds of all Americans trust online reviews from strangers more than a personal recommendation from their ex-boyfriend or ex-girlfriend. Ouch.
If you want to learn more about reviews vs. personal recommendations, you will learn more about this later in this post.
Online Review Statistics #4: How Your Customers Act
As an ecommerce store owner/manager, it’s crucial to know how online shoppers will behave to review-related actions.
First, if you don’t have any reviews, 15% of all online shoppers won’t give you a chance. They just won’t trust you.
Considering that Statista forecasts a total online shopping revenue in 2025 of more than 1.3 trillion dollars, a 15% default-loss means a lost opportunity that costs you a market size of 195 billion dollars.
And that’s just the data for the United States. Think about that for a second.
If you decide to show reviews on your product pages, make sure to have at least five reviews. Why? Well, consumers are four times more likely to make a purchase then.
In a similar study, Brightlocal found that 70% of all consumers will read at least four online reviews before making a purchase.
For 90% of all shoppers, less than 10 reviews are enough to form an opinion about an online store.
And almost all of them read these online reviews very early in the buying process.
So far, so good.
But how do you ensure that you have reviews to display? The easy answer: Just ask.
72% of all shoppers said that they will review a product or business if they were asked.
It gets better!
Almost 24% of all customers said that they leave multiple reviews (up to four) per year.
If they leave a review, they’re most likely to leave it for excellent products. No one has time for bad products.
In fact, 47 percent of all internet users, which are 2.29 billion people worldwide, said that they write reviews about products, companies and services every single month.
As you can imagine, not all of them will leave positive reviews. Some will complain about products, services, shipping times and anything else that they didn’t like.
Which is totally fine. It’s normal and makes a product and store more trustworthy.
You just need to know that 94% of consumers avoided a company because of negative reviews.
Meaning, in 2022, customer satisfaction is more important than ever.
The behavior of customers is one part. Now, let’s take a look at the expected behavior of a brand (yes, that’s you).
Online Review Statistics #5: How You Need to Act
If you display product reviews in your store, you expect a customer to behave in a certain way. But the customers also expect a certain behavior of your brand. This section will give you insights about what you should (and shouldn’t) do.
First, we can’t stress enough how important it is to respond to reviews.
30% of shoppers are going to trust a company more, if they respond to reviews.
In fact, businesses will grow the amount of reviews they’re getting by 12% if they respond to their customers.
If you fail to respond, 15% of your customers might churn away. Bye-bye.
I know, I know…
Sometimes it’s hard to respond nicely to negative reviews. That’s why many people stay away from it and ignore them at all.
That’s also what this study found out. Businesses are just more likely to respond to positive reviews.
Here’s a fact: 62 percent of shoppers even said that they won’t support companies that engage in review censorship.
This means that it’s expected that brands don’t respond to negative ones which gives you the chance to stand out from the crowd.
Actually, people are not leaving reviews without a reason. They don’t just want to complain. They want to give real feedback.
Unfortunately, 63% of consumers who left negative feedback said they never heard back of a brand.
Convinced that you even need to respond to negative reviews?
Then hurry up! 53% of consumers expect a business to respond to negative reviews within the first week.
All of these online review statistics show you that reviews are no longer a one-way path. It’s about engagement and brand building.
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