The climate for retailers this holiday season is highly competitive, forcing companies to refine business strategies, hone marketing messaging, and double-down on an incredible customer experience. But there’s another factor that can help propel all these efforts to increase sales — collecting, managing, and syndicating ratings and reviews.
Retail shoppers trust consumer reviews on average 12 times more than manufacturer’s product descriptions, while 88% of people trust them as much as personal recommendations. And new research from ForeSee shows that ratings and reviews have a huge effect on shopping behavior during the holiday season, as well as all year round. For example, 77% of holiday shoppers consult ratings and reviews before making a purchase. Even the type of ratings and reviews (positive/negative) can impact consumer behavior in different ways.
Point being, ratings and reviews for products and brands are now essential. Not only do retailers need both, they also need to manage them effectively. Doing so can lead to greater consumer trust, increased traffic to online channels (website, mobile & apps), and higher online conversion rates. For instance, just one additional review for a product can result in a 10% boost in conversions.
Want to learn additional insights about how ratings and reviews can impact holiday shopping? Well, you’re in luck! (Must be the holidays.) We’ve just released a new ratings and reviews mini report, which you can view when signing up to request a copy of the forthcoming ForeSee FXI Retail Report 2016 — due out in December.
Good news for ForeSee clients! You can start collecting, managing, and syndicating ratings and reviews using your existing ForeSee survey data today — and still have time to make an impact on your holiday shopping season and search visibility. Contact your ForeSee representative now to learn more.