Stackline’s Shopper OS platform yields learnings that Ratings and Reviews have a greater impact on brand performance than previously estimated.
Stackline, the leader in full-funnel connected commerce, and only provider of Amazon-verified shopper-published reviews, has released stunning learnings around the importance of Ratings and Reviews to brand performance.
For years, we've known that Ratings and Reviews play a role in attracting shoppers. However, our understanding of the complete shopper journey has evolved with the launch of Shopper OS, our revolutionary platform that aligns first-party data into a comprehensive view of the omnichannel shopper. For instance, we've found that retention rates have plummeted, with only 12% of brands successfully retaining their shoppers annually.
So, where do Ratings and Reviews fit in? They are not just a component but the most vital element for brand success, beating out pricing and inventory. Here are six groundbreaking insights illuminating how Ratings and Reviews shape the connected commerce ecosystem.
- Shoppers prioritize Reviews. In a survey of 50,000 shoppers, Reviews emerged as the most crucial factor in purchasing decisions, outpacing Price, Content, and even fulfillment.
- Brand leaders recognize the shortfall. In a survey of 400 brand leaders, 87% reported the need for more reviews, and 81% expressed the need for better ratings. But why?
- Shoppers rarely leave reviews. On average, shoppers review only 0.2% of the products they purchase. This lack of engagement is prevalent across the connected commerce ecosystem, not just on Amazon. It's no wonder brand leaders are eager to find solutions.
- When shoppers do leave reviews, they're not always glowing endorsements. On average, brands receive a 3.93-star rating. Except for Apparel, brands in every department fall below a 4-star rating on average.
- Five-star reviews make a significant impact. Leveraging Stackline's vast data capabilities and our ability to empower reviews for the world's largest brands, we conducted a study. Adding 20 five-star reviews to a product page resulted in remarkable results. Visitor traffic increased by 8%, thanks to improved organic placement and enhanced brand perception. Moreover, conversion rates experienced a staggering 22% boost. Brands must recognize these results.
- What's the actual value of a 5-star review? The true worth of a five-star review depends on the product. For high-consideration purchases, like Baby, where shoppers meticulously read every review, the average value of a five-star review is $472. In the case of high-ticket items like Electronics, the value is $441.