People Are Complete Suckers For Online Reviews (nypost.com)
schwit1 shared an article from the New York Post:
No reviews, no revenue. That's the key takeaway from a new study published in Psychological Science, which finds that if two similar products have the same rating, online shoppers will buy the one with more reviews... "[When] faced with a choice between two low-scoring products, one with many reviews and one with few, the statistics say we should actually go for the product with few reviews, since there's more of a chance it's not really so bad," wrote researcher Derek Powell of Stanford University, lead author of the report. In other words, when there's only a handful of reviews, a few bad ones break the curve and bring down the overall rating. "But participants in our studies did just the opposite: They went for the more popular product, despite the fact that they should've been even more certain it was of low quality," he wrote.
Matt Moog, CEO of PowerReviews, previously conducted a study with Northwestern University [PDF] that drew from an even larger data pool of 400 million consumers, which also found that the more reviews there are of a product, the more likely it is that a customer will purchase that product... He has also found that customers who read reviews often click the bad ones first. "They want to read what's the worst thing people have to say about this," he said... Most online shoppers (97 percent to be exact) say reviews influence their buying decisions, according to Fan & Fuel Digital Marketing Group, which also found that 92 percent of consumers will hesitate to buy something if it has no customer reviews at all.
Matt Moog, CEO of PowerReviews, previously conducted a study with Northwestern University [PDF] that drew from an even larger data pool of 400 million consumers, which also found that the more reviews there are of a product, the more likely it is that a customer will purchase that product... He has also found that customers who read reviews often click the bad ones first. "They want to read what's the worst thing people have to say about this," he said... Most online shoppers (97 percent to be exact) say reviews influence their buying decisions, according to Fan & Fuel Digital Marketing Group, which also found that 92 percent of consumers will hesitate to buy something if it has no customer reviews at all.
I think it's a bit more complex than that. Oftentimes, you can determine from poor reviews exactly what the shortcomings are, and decide if those shortcomings affect your intended use of the product. If a competing product has no reviews, then you have no way of knowing what the shortcomings are.
People who say "sheeple" have about as much sophistication as an AOL user, and in fact are probably actually AOL users.
If one product has 12 reviews and one 45k reviews, the 12 review has 5* and the 45k review has 4* I'd be more likely to buy the 45k review one. It's simply significantly harder to astroturf and bot 45k reviews than 12. Online typically all you have to go on is a shitty picture, product details that are nearly always incomplete and exaggerated, and reviews. The reviews are the least shitty way to not get ripped off. For the record, yes I know that many reviews on most every site are fakes, paid for the review, or bots.
Plus sometimes the reviews are pure comedy gold and are worth reading on their own which can inspire some sales on their own.
I always check the bad reviews and only the bad reviews. Good reviews generally aren't helpful, they're either fake and posted by the seller or genuine but not useful. Seeing twenty 5 star reviews that say "it worked great for me" is great, but what I really want to know is how it failed for people and if I care about those failures.
If all the bad reviews are by people who are clearly crazy or doing something stupid, I can be fairly confident in the product. If they instead reveal significant flaws, I may want to reconsider.
As always, XKCD has a relevant cartoon about this.
The three main kinds of mistruth.
With more reviews, the buyer has a better idea -exactly- what's bad about the product thus has a better chance of making an educated decision about buying it.
The article and study are examples of misusing statistics. The correlation between number of reviews and purchases niether tests nor demonstrates a causal relationship from the former to the latter, and even if it did it does not demonstrate the -claimed- causal relatinoship.
Moderating "-1, Disagree" is simple censorship. Have the guts to post your opinion.
...suggestions for competitors products. I then make my own determination after checking them out.