Peer Reviews Influence Consumer Behavior
Though there are many factors that influence online browsers to make purchases, fellow users’ reviews seem to be very important. An Avenue A | Razorfish study showed that 55% of the 475 Internet users in the U.S. who responded in July 2007 check other users’ opinions online, which was significantly more than the number of those who checked comparison charts (22%), expert reviews (21%), or shared shopping lists (1%).
Another study conducted by Deloitte & Touche USA in August and September of 2007 lends similar evidence to the value consumers place on consumer-generated online reviews. Of the respondents, 45% said that these reviews influenced their purchase decisions for home electronics, followed by 39% for personal electronics, and 22% for toys/games. Kitchen appliances (20%), beauty/grooming (18%), food (17%), household cleaning products (17%), apparel (17%), pet products (14%), and motor vehicles (13%) rounded out the list.
According to an Internet Retailer report, consumers who read online consumer product reviews were more likely to spend more than their peers who did not. Twenty one percent spent 1-5% more, while 27% spent 5-10% more.
These figures lend more support to what is already widely known about consumer generated product reviews. Most major e-retailers have already caught on, while others are catching up.
Source:
http://www.emarketer.com/Article.aspx?id=1005702
