Retail and customer reviews now go hand-in-hand, making them essential to eCommerce and the buying process. Consumers looking to make a purchase, both off and online, are now going in search of product reviews before opening their wallets.
The research in our Q2 2016 eCommerce Benchmark Report shows that 96% of all purchases are made for products with an average of 4+ stars! Encouraging customer reviews could be your best marketing strategy to finish the year strong.
You can find more data on acquisition, retention, with actionable insights, in our Q2 2016 eCommerce Benchmark Report. Released quarterly, our latest eCommerce Benchmark Report is free for you to download today:
Customer reviews are your best marketing tool!
In an analysis of 1 million reviews for 8.6 million purchases across multiple verticals, Yotpo found that more reviews equate to more purchases made. Their data also revealed that the higher the rating on a product, the more frequently those products are bought in comparison to those with lower reviews. In turn these higher rated products get more reviews.
Reviews boost customer loyalty and conversion rates!
Customer reviews have a snowball effect, helping greatly with your acquisition and retention. Reviews put consumers in front of your most popular products, and products that are highly reviewed are bought more! People trust what others have to say, so much so that there were 126% more orders for products with average of 5 stars than 4 stars.
Most shoppers are still in discovery and research mode on their first visit to your site. Positive reviews can help you increase conversion, turning first time visitors into buyers, and eventually return customers. We found in the Benchmark Report for Q2 2016 that conversion rate jumps 97% between the first and second visit!
Want to build relationships and boost retention?
For more insights on conversion and retention, with actionable items for your business, download your free copy of the Q2 2016 Benchmark Report today by filling in the form below: