Bangalore, 25th January 2023
Since the pandemic, the global e-retail industry has seen a whopping 26.4% increase in sales. People are inclined to read reviews on the internet to make the entire purchase process hassle-free and absolutely authentic. Compared to 2018, the trend of reading negative reviews has increased from 85% to 96%, and third-party reviews play a monumental role in this sector.
The trust factor with third-party websites is a sentimental (important/pertinent) issue because these websites are accounted for their unbiased views on various products and services. A very recent study has revealed that 93% of users make buying decisions based on online reviews, and they refuse to opt for a product that is rated below 3.3
The main agenda is to provide unadulterated and more relevant opinions and feedback on essential and non-essential commodities consumers buy. Apart from these, third-party reviews have minute product details that often need to be added on first and second-party platforms.
Third-party websites collect information from places independent of the business.
One of the main components of the online buyer persona is determining the quality of a product or service before making a purchase decision. Brand websites or e-marketplaces often update reviews on commodities that are not genuine to make their websites forcibly more credible. Research says that almost 30% of reviews on e-commerce websites are fake, which is done either to enhance a brand’s reputation or to decline it due to organizational rivalry.
Third-party websites do not encourage fake reviews because they aim to value customers’ buying emotions and correctly guide them while shopping online. Shoppers are more likely motivated by online reviews than coupons or discount offers.
Online reviews (32%) are the most crucial factor in driving a purchase, although consumers are also triggered by free shipping (24.5%), coupons or discounts (22.1%), and loyalty or rewards programs (6.5%). Besides, it has also been noticed that 92% of 18-34-year-olds, 74% of 35-54-year-olds, and 59% of consumers over the age of 54 reported seeing a fake review last year on brand websites and e-commerce platforms.
Adding to this, Deepak Saraf, the CEO of Zotezo, a reputed online trust commerce platform, says, “Marketing jargon and product promises have resulted in many poor purchases. People have lost confidence in what brands tout as the next big shiny thing.
We now live in a highly connected world, and we increasingly rely on reviews and referrals for our purchase decisions”After thoroughly researching, one truth that has made a public appearance is that almost 42% of online shoppers consider reading independent third-party reviews more than other retail sites. The major reason behind this is fake reviews and third-party websites with no relationship with businesses.