Based on data from a gift retailer, reviews increased the conversion rate of lower-priced products by 190%, and higher priced products by 380%.
The Spiegel research team partnered with PowerReviews to analyze millions of customer experiences from two online retailers featuring primarily lower-priced product categories and a third online retailer of high-priced gifts. We looked at how customers’ exposure to and interaction with online reviews affected their purchase behavior for up to a year.
This statistic matters because it indicates the significant impact of customer reviews on conversion rates. Higher-priced products see even bigger improvements, which suggests that potential customers heavily rely on reviews to make purchasing decisions. Retailers should prioritize collecting and showcasing positive reviews to boost sales and build customer trust across price ranges.