With our fast changing Life Style, we have accepted online shopping as the ultimate solution to make our living more comfortable. It offers fast, easy, money saving and gives you very interesting shopping experience. It also gives you 24 hours shopping facility. They also offer you many discounts / offers, you can do your complete shopping from your home, anywhere and anytime and then you will also have a large variety of quality products to choose from.
And e-commerce with added facilities and with Technology also played a major role in the growth of E-commerce. More and more consumers started online shopping their everyday needs has become the call of the day.
Now a days Product Reviews are proven sales drivers, and something the majority of customers want to see before deciding to make a purchase. Consumer reviews are significantly more trusted by the shoppers than descriptions that come from manufacturers. Buying decisions were also influenced by negative reviews.
If ‘Product reviews’ has become an important factor in online retail business, it is time we understand little more about it. E-commerce sites often have consumer reviews for products and sellers separately. Nowadays, more and more e-commerce platforms offer product reviews or product ratings.
So, what is a ‘Product Review’?
A product review is a textual review of a customer, who describes the characteristics (e.g. advantages and disadvantages) of a product.
A product rating on the other hand represents the customer’s opinion on a specified scale. A popular rating scheme in online shops is the star-rating, where more stars indicate better ratings.
What does it contain? A consumer review of a product usually comments on how well the product measures up to expectations based on the specifications provided by the manufacturer or seller. It talks about performance, reliability, quality, defects, if any, and value for money.
How Online Product Reviews are affecting the Consumer Decision Making Model?
Product reviews and ratings are popular tools to support buying decisions of consumers. These tools are also valuable for online retailers, who use rating systems in order to build trust and reputation in the online market. Many online shops offer quantitative ratings, textual reviews or a combination of both.
A ‘Paid Product Review’ is the system where the creator (usually a company) of a new product pays a reviewer to review their products and make them available on their site for the shoppers to read. These product reviews are written by the reviewers as approved by the company for which they are paid per post.
How does it affect online retail business? Online product reviews have become a major factor in business reputation and brand image. A negative review can damage the reputation of a business and this has created a new industry of reputation management where companies attempt to remove or hide bad reviews so that more favourable content is found when potential customers do research.
Fake Product Review? One of the major crisis, besides many other, E-commerce is facing today is ‘Fake Product Reviews’ now available on many online shopping retail shopping sites including some major online retail shopping sites. And this has already started creating great confusion in E-commerce.
What is ‘Fake Product Review’? Its effect on consumers decision making, on the e-commerce, and how can we identify genuine and Fake Product Reviews….?
Watch for my next blog….