This statement from JupiterResearch lauds the voice of the consumer in making a difference in how companies take their products to market and grow their business.

Retailers are gaining market share by leveraging what they learn from user-generated product ratings and reviews. The result, says JupiterResearch, is a “winning trifecta” of increased loyalty, increased purchase frequency and reduced returns.

The four studies available from JupiterResearch are:

  • “Retail Marketing: Driving Sales Through Consumer-Created Content,” by Patti Freeman Evans, which found that 77 percent of online shoppers use consumer generated product reviews/ratings and those who find them useful are more loyal to stores with reviews/ratings featured.
  • “Travel Consumer-Created Content” by Diane Clarkson discusses the growing influence of online reviews and recommendations and provides to travel websites on how they can employ them to enhance their relevancy.
  • “Online Support Forums,” by Zachary McGeary, which reveals that consumers who post feedback on forums, positive or negative, spend 22 percent more online than do consumers who have not posted on forums.
  • “Managing Word of Mouth Online, Leveraging Internal Resources,” by Emily Riley, which reveals that more than 90 percent of large companies believe that consumer recommendations are important in influencing other consumers’ purchase decisions.

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