Online Reviews Stats

Online Reviews Stats 2023

 

• 92% of customers read online reviews before making a purchase decision
• Online reviews have become an essential part of the customer feedback process in the past decade
• 88% of customers trust online reviews as much as they trust a personal recommendation from a friend
• Consumer reviews are the most trusted source of product information, with online reviews being a close second
• Online reviews have grown ten times over the decade, and by 2023 consumers will spend up to $1 trillion a year based on them.
• Three-quarters of customers review an average of 6 reviews before forming an opinion.
• 84% of customers trust online reviews as much as a personal recommendations.
• 68% of customers indicate that negative customer reviews impact their spending decisions.
• 82% of shoppers say that reviews influence their purchasing decisions.
• Star ratings remain the most influential type of customer review.
• 1 in 3 customers checks for reviews before making a purchase.
• 86% of people hesitate to purchase from a business with no reviews
• 88% of customers admit to reading reviews online before making a purchase.
• 89% of customers read businesses’ responses to reviews, and 90% appreciate a response.
• Negative reviews increase the likelihood of customers purchasing by 22%.
• 68% of customers shop around for other businesses after reading positive reviews.

Online customer reviews have become a crucial part of the decision-making process for consumers. In fact, recent studies show that a staggering 93% of consumers read online reviews before making a purchase. With the ever-evolving landscape of the internet, it’s important to stay up-to-date with the latest trends and statistics surrounding customer reviews. In this article, we’ll dive into the most recent data on online customer reviews for 2023, exploring the impact of social media, the growing importance of video reviews, and much more. Whether you’re a business owner, marketer, or simply a curious consumer, you won’t want to miss these essential insights.

More Online Customer Reviews Statistics 2023

According to an article from YesInsights, online reviews will continue to be a powerful influence over customer behavior in 2023, as 92% of shoppers read an online cusomter review before making a purchase decision. This statistic reflects that customers increasingly rely on online reviews to form their impressions of products and services and find out which companies will be able to meet their needs. Link: https://yesinsights.com/blog/online-reviews-statistics/

In the past decade, online reviews have become an essential part of the customer feedback process, driving sales and informing product development, according to an article from ReviewTrackers. This points to the fact that companies must take customer feedback seriously, as it will significantly impact the success of their business in 2023 and beyond. Link: https://www.reviewtrackers.com/resources/online-reviews-statistics/

BrightLocal’s research reveals that 88% of customers trust online reviews as much as they would trust a personal recommendation from a friend. This statistic shows that the consumer audience holds customer opinions in high regard. Companies should strive to ensure that they leave a positive impression on their customers through positive reviews. Link:https://www.brightlocal.com/learn/reviews-statistics/

Statista’s data shows that consumer reviews remain the most trusted source of product information, with online reviews being a close second. This statistic indicates that businesses should prioritize cultivating a positive online presence, as this will likely be the deciding factor for many customers when choosing between products or services in 2023. Link: https://www.statista.com/statistics/940041/us-consumers-most-trusted-sources-of-product-information/

2. Small Business Trends reports that online reviews have grown ten times over the decade and that by 2023, consumers will spend up to $1 trillion a year based on online reviews. This statistic proves online reviews are increasingly important in determining consumer purchasing decisions. Businesses must continue to provide excellent customer service and encourage customers to leave reviews if they want to remain competitive. Link: https://smallbiztrends.com/2016/09/online-reviews-statistics.html

3. According to BrightLocal, three-quarters of customers look at an average of 6 reviews before forming an opinion of a business. Additionally, 84% of customers trust online reviews as much as a personal recommendations. These statistics show just how valuable positive reviews can be for businesses. They also illustrate the importance of companies developing a reputation management strategy that can help them ensure that their customers are leaving positive reviews and responding to any negative reviews. Link: https://www.brightlocal.com/learn/online-review-statistics/

4. ReviewTrackers found that 68% of customers indicate negative customer reviews impact their spending decisions. This statistic emphasizes that customers take online reviews seriously and that businesses should be prepared to respond to negative feedback to repair their reputations and better appeal to new customers. Link: https://www.reviewtrackers.com/resources/ecommerce-reviews-statistics/

5. PowerReviews discovered that 82% of shoppers say reviews influence purchasing decisions. Additionally, 67% of shoppers said that they are more likely to buy a product they are considering if it has a high star rating. This statistic shows that customers value online reviews and use them to determine whether or not they should buy a product. Link: https://www.powerreviews.com/consumer-study/

6. It was also found that star ratings remain the most influential type of customer review for consumers. Customers are 4.6x more likely to purchase at or above the average rating when compared with purchase rates below the average star rating. This statistic demonstrates the power of customer reviews in influencing customer purchasing decisions. Link: https://www.bigcommerce.com/blog/ecommerce-reviews/

7. According to Trustpilot, 1 in 3 customers check for reviews before purchasing, and 86% say they will hesitate to purchase from a business without reviews. Furthermore, 73% of customers find reviews more credible with positive and negative ratings. These statistics all emphasize the importance of agencies having an online presence that includes customer reviews. Link: https://resources.trustpilot.com/customer-reviews-statistics

88% of customers admit to reading reviews online before making a purchase. This statistic again illustrates that customers rely heavily on online reviews to determine which businesses they will patronize. Brands should therefore strive to provide an exceptional customer experience to attract positive reviews and demonstrate their reliability to potential customers. Link: https://vendasta.com/blog/customer-reviews-statistics/

9. Reviewshake revealed that 89% of customers read businesses’ responses to reviews. Moreover, 90% of customers appreciate a response to reviews. This data point shows that customers not only find reviews helpful, but they also value how businesses respond to those reviews. Companies should respond promptly to any customer feedback to maintain a good reputation. Link: https://www.reviewshake.com/blog/2018/07/08/5-key-online-review-statistics-for-2018/

10. White Label Solutions found that negative reviews increase customers’ likelihood of purchasing by 22%. This statistic indicates that customers are still interested in purchasing from a company with negative reviews as long as those reviews appear genuine and not maliciously posted. Link: https://www.whitelabelsolutions.com/blog/online-reputation-management-stats/

11. According to Podium, 68% of customers shop around for other businesses after reading positive reviews for a different company. This statistic demonstrates how review sites, such as Yelp and Google Reviews, have made it easier for customers to compare other businesses and find the one that best meets their needs. Link: https://www.podium.com/hubfs/Customer_review_statistics_2019.pdf

In conclusion, online reviews will remain a powerful influence on customer decision-making in 2023. Consumers trust online customer reviews just as much as they would trust a personal recommendation from a friend, meaning businesses must pay attention to these reviews and prioritize fostering positive experiences with customers to remain successful.