In the dynamic world of consumer preferences, the impact of ratings and reviews on brand performance stands out as a crucial focal point, as highlighted by Stackline's recent findings.
To further understand the significance of ratings and reviews and their impact on attracting shoppers, Stackline has introduced Shopper OS, a platform that compiles first-party data and provides a comprehensive view of the multifaceted omnichannel shopper.
Ratings and reviews have emerged as the most pivotal element for achieving brand triumph, outshining even pricing and inventory considerations. A survey by Emplifi showed the importance of reviews, as 87% of the consumers said that real-life customer reviews had a huge influence on their purchasing decisions.
Stackline sheds light on the impact of rating and reviews with six key insights from its survey:
- Shoppers give top priority to reviews
A survey of 50,000 shoppers has revealed that reviews take precedence over other factors like price, content, and even order fulfillment when making purchase decisions.
- Brand leaders acknowledge the need for more reviews
In a survey of 400 brand leaders, 87% expressed the requirement for increased reviews, while 81% emphasized the need for better ratings.
- Challenges with review engagement
Shoppers tend to be reluctant when it comes to leaving reviews. On average, they review just 0.2% of the products they buy. This is a widespread challenge across the connected commerce landscape, not limited to Amazon. It's no surprise that brand leaders are actively seeking solutions.
- The quality of reviews varies
When shoppers do leave reviews, they are not always glowing endorsements. On average, brands receive a 3.93-star rating. Except for apparel, brands in most departments fall below a 4-star rating on average.
- Impact of five-star reviews
Through a study leveraging Stackline's extensive data capabilities and the company's ability to facilitate reviews for the world's largest brands, they discovered that adding 20 five-star reviews to a product page leads to significant results. This includes an 8% increase in visitor traffic, driven by enhanced organic placement and a better brand image. Furthermore, conversion rates experienced an impressive 22% boost.
- Determining the value of a 5-star review
The actual value of a five-star review varies depending on the product. For high-consideration purchases like baby products, where shoppers meticulously scrutinize reviews, the average value of a five-star review is $472. In the case of high-priced items such as electronics, the value is $441.
