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Statistics Summary
Total Stats 2,045
Total Categories 74
Updated 5/20/2013 11:06:46 AM
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Detailed Information About This Statistic / Trend
68% of online marketers believe "media is in big trouble and will lose dollars to user-generated content."
Stat Category:
eCommerce Stats
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Description:
Marketer Demand for Ratings and Reviews
Years / Period:
2008
Stat Source:
iMedia Connection, February 2008
Publisher (site that mentioned this stat):
Bazaar Voice
Stat Tags:
recommendations,
user reviews,
ratings,
product research,
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79% of online UK retailers surveyed reported that the main benefit of consumer-generated rating and reviews was that they improved site conversion rates
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By 2020, 84% of marketers agree that building customer trust will become marketing's primary objective, and 82% agree that collaboration with customers will prevail over marketing.
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11% of retailers reported a 20% or more overall increase in conversions as a result of adding reviews to their sites, 21% reported an 11% to 20% increase and 5% reported a 1% to 10% increase.
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Only 26% of the 137 top retailers surveyed offered customer ratings and reviews, but 96% of them ranked customer ratings and reviews as an effective or very effective tactic at driving conversion.
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