It’s estimated that 30 percent of apparel and shoes purchased online are returned. And per the National Retail Federation, the projected cumulative cost of returns last year was $761 billion (this equates to 17 percent of all purchases, an 11 percent increase from our previous year's research). Returns are an expensive proposition for retailers. As…
Andrew Smith
Consumer trust is the penultimate factor in customer loyalty. According to Deloitte Consulting researchers, customers who give a brand high trust scores are three times more likely to stick with it through a mistake. What's more, 86 percent say they’re more likely to buy from that brand again, and 62 percent will buy almost exclusively…
Having a high volume of product reviews helps consumers' purchase decisions, ranking above other important elements, including price and recommendations from family and friends. However, substantial review volumes — in and of themselves — are no longer enough to satisfy shoppers on their path to purchase. According to a new PowerReviews study, The Power of Review…
Product returns are a necessary evil for retailers; shoppers won’t buy without them, but shipping and return-to-stock costs have a major impact on revenue. Experts estimate the average return costs a retailer between 15 percent to 30 percent of the original purchase price, and cumulatively, returns cost retailers $550 billion every year. In our new…
The idea of ratings and reviews as absolute core to online shopping decisions isn’t new. Consumer reviews on e-commerce product pages have existed in some format since pretty much the advent of the internet. But at PowerReviews, we wanted to understand how important they are in the post-COVID world we're now transitioning to and how…
