Americans have ended up wasting $125 on average owing to inaccurate reviews

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 04, 2020, 1:26 AM UTC

72% of those polled believe that 5-star ratings are not entirely credible or not credible at all.

This article states that American consumers ended up wasting about $125 on average because of inaccurate reviews in 2019.The finding resulted from a survey of over 6,300 adult internet users in the US, UK and France and was carried out by a research firm Canvas8.

Upon extrapolation, it would appear that $25 billion in US consumer spending has been wasted due to fake online reviews. 89% of consumers globally check reviews online before buying. However, 49% of consumers also “believe that ‘too many companies’ are creating fake reviews online”.

56% of respondents said they would “consider a 5-star rated product or service, but do more research before committing.” A smaller group, 16% of participants, believe 5-star ratings to be fake.  

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