Product Reviews
Instacartโs partnership with OpenAI was a significant first step in showing how generative artificial intelligence will fundamentally change the digital shelf and retail media. Amazon.com also has several generative AI-powered initiatives, including AI-generated review highlights and Project Nile, a GenAI search concierge reportedly set to launch in January. If the feature fulfills its potential, itโฆ
Consumers are increasingly skeptical. Name brands can no longer assume customer loyalty based on reputation alone. Todayโs consumer doesnโt hesitate to study the reviews and experiences of others to determine the highest quality products at the best price โ brand name or not. While some popular review sites (think Amazon.com) are no longer assumed toโฆ
Authenticity is at the forefront of every consumer buying decision, thus making reviews a barometer for a product and a companyโs trustworthiness. Forty-nine percent of consumers trust reviews as much as personal recommendations from friends and family members, creating a level of confidence with direct revenue implications. Marketers have made leaving product reviews extremely accessible to capitalize on their power, pulling from multipleโฆ
Earning and then protecting a trusted brand reputation should be at the heart of any good business strategy; yet, it often falls by the wayside because it arguably cannot be easily quantified. That said, your customer community and the trust you instill in your customers should be viewed as your greatest asset and a keyโฆ
Itโs 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. Asโฆ
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 theyโre more likely to buy from that brand again, and 62 percent will buy almost exclusivelyโฆ
Amazon.com is experimenting with using artificial intelligence (AI) to sum up customer feedback about products on the site, with the potential to cut down on the time shoppers spend sifting through reviews before making a purchase. On the Amazon product page for Appleโs third-generation AirPods, for example, the AI feature now sums up the more thanโฆ
In todayโs competitive, increasingly omnichannel marketplace, retail leaders know great customer experiences (CX) are key to revenue growth, customer retention and long-term brand success. Investments in CX and building genuine customer relationships pay off by driving customer loyalty. In fact, Kroger shared that its loyal shoppers spend 10 times more than occasional shoppers. To seeโฆ
Rick, a โveteranโ farmer from Little Rock, Arkansas, is looking to take his produce to the big leagues and compete with the large retail players in his field. Rick was looking to, in his own words, โknow rather than guessโ how his market and possible customers would respond to his offerings. He also wanted toโฆ
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 โ in and of themselves โ are no longer enough to satisfy shoppers on their path to purchase. According to a new PowerReviews study, The Power of Reviewโฆ