Often when people shop online, the first thing they read is product reviews. And it is already known that reviews are more reliable than ads.
The study, conducted by Marton Varga of Bocconi Marketing Department and Paulo Albuquerque of INSEAD business school, focused on negative reviews. This is because negative information tends to influence people’s evaluations more than positive information.
When there was a single negative review, consumers were 41.8% less likely to purchase the product compared to when there were no negative reviews. Consumers who typically look at reviews make up about one-fifth of all consumers. It turns out that total demand ultimately fell by 8.4%. Additionally, a negative review on a product page increases the likelihood of viewing similar products by 9.7%.
Additionally, negative reviews have the greatest impact on buyers when choosing utilitarian goods (i.e., products that perform a specific function). Conversely, people focus less on negative reviews when purchasing pleasure and lifestyle products. As a rule, reviews of such products are quite subjective.
Source: Ferra
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