CHICAGO, June 02, 2020 (GLOBE NEWSWIRE) -- PowerReviews reveals the staggering changes in consumer behavior and interaction with online ratings and reviews over the past three months in its research published today.
The June edition of the PowerReviews Market Trends Snapshot is based on analysis of consumer activity across more than 1.5MM review product pages from the websites of more than 1,200 brands over the past three months. It reveals:
- Digital sales volumes increased 206% from February 2020 to May 2020, but stable over past month
- Review submission volumes up 2.3x from April to May
- Consumer review engagement has increased steadily over the past three months; hits high of 89% above pre-pandemic levels in May.
Carol Krakowski - Director, Insights at PowerReviews, states:
“Review submission volumes increased significantly in May, which was the biggest change in all the metrics we analyze. We actually predicted this in last month’s snapshot because we know review submissions lags behind time of purchase. With sales levels showing no signs of declining, we would expect this figure to either climb further still or at the very least remain at its currently high level.”
“Purchase volumes continue to consistently be at around three times pre-pandemic levels. They did not significantly decrease or increase since last month’s snapshot report. This implies normalization in the market. It’ll be very interesting to see how much of this holds once stores reopen.”
“Consumers continue to rely on ratings and review content to justify purchase decisions, providing the validation and social proof necessary to drive sales. Review engagement among purchasers is now at around 70% higher than more typical times and total review engagement has steadily increased in the last three months.”
PowerReviews will be hosting a webinar on Thursday June 11th offering a deepdive into these findings.
Read the full research findings on the PowerReviews blog.
Research Methodology
PowerReviews research is based on analysis of activity across more than 1.5MM product pages from more than 1,200 retail/brand sites between February 24, 2020 and May 24, 2020.
FURTHER INQUIRIES
Andrew Smith
Marketing Director
andrew.smith@powerreviews.com
ABOUT POWERREVIEWS
PowerReviews (PowerReviews.com) is a software and data company that works with 1000+ leading brands and retailers to bring authenticity and transparency to commerce. The PowerReviews Customer Content Platform has four solutions that help our customers collect and manage customer-generated content to improve the product and customer experience across the customer journey. We help clients meet the evolving need for social proof, accelerating the path to purchase and brand advocacy.
PowerReviews is known for innovation, consultative partnership, and actionable insights, supported by our open platform and approach. Our dedicated team of experts provides thoughtful analysis and turn-key service. PowerReviews is headquartered in Chicago, IL, USA.
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