Retail - Propel
A significant channel for offering product information to assist customers in making accelerated purchase decisions.
Customers are highly susceptible to online reviews. It is a valuable source of information regarding the product and the brand.
Functions as an Electronic Word of Mouth (e-WOM)
e-WOM contains four factors acting as a scale for customers: source credibility, volume, language and comprehension, and relevance. The factors are strong pillars that are necessary for a correct pre-purchasing research.
Bridging the mismatch between customer expectations and product reality
Reviews let customers interact with the product visually and through the written statement. It is broadly influenced by: the overall product experience and the return policy.
Important implications for a number of management activities
Reviews create a “symmetric effect area” for competitors. It may intensify or weaken the product competition between two sellers. Online reviews also significantly impact the product sales and prove more consequential for high-quality sellers than for low-quality sellers.
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