In the digital age, online reviews have become an integral part of consumer decision-making. A 2021 report by PowerReviews highlights the significance of customer reviews, revealing that a staggering 99.9% of online shoppers take the time to read reviews before making a purchase. What's even more intriguing is that 96% of consumers actively seek out negative reviews, an increase from 85% in 2018. These statistics underscore the pivotal role reviews play in shaping consumer choices.
BrightLocal's local consumer survey delves further into this phenomenon, finding that 49% of consumers trust online reviews as much as personal recommendations from their friends and family members. This statistic demonstrates the level of influence reviews hold over purchasing decisions.
The distrust towards conventional advertising is also on the rise, particularly among millennials. Performance Marketing World reports that a whopping 84% of millennials no longer trust traditional advertising methods, making reviews and word-of-mouth recommendations more vital than ever.
Even when shopping in physical stores, consumers rely on their smartphones to access product reviews. OuterBox's research reveals that 8 out of 10 shoppers use their smartphones to look up reviews while they are in-store, further emphasizing the importance of online reviews in the overall shopping experience.
Beyond consumer choices, reviews also have a significant impact on job seekers and employees. Glassdoor's research indicates that 86% of job seekers and employees investigate company reviews and ratings to determine whether they should apply for a job, highlighting the role reviews play in shaping not only consumer decisions but also career choices.
Furthermore, the trust in online reviews is not limited to consumers alone. Research demonstrates that 91% of 18 to 34-year-olds trust online reviews just as much as personal recommendations, making online feedback a powerful tool for businesses.
Interestingly, companies that invest in reputation management tools reap substantial rewards. Podium's report suggests that 94% of local businesses using such tools find that the return on investment (ROI) justifies the cost, underscoring the importance of actively managing and monitoring online reviews.
In a perfect world, consumers express a desire for transparency and credibility, with 43% indicating that they would like to see more than 100 reviews for a product before making a decision. These findings collectively highlight the omnipresence and significance of online reviews in the modern consumer landscape, making them a critical aspect of business strategy and decision-making for both customers and employees alike.
