This article appeared on forbes.com on May 25, 2021. Brands and retailers spend more than $1 trillion every year on marketing and advertising to get consumers to buy their products. They attract shoppers to their websites, create smarter experiences, entice them to select their products and usher them to the checkout area. Unfortunately, more times than not, …
Back in the day, in the early 1900s, to be exact, Harry Gordon Selfridge of Selfridges & Co. in London is believed to have coined the phrase, “the customer is always right.” Harry was a trailblazer in the retail industry—his vision was to make shopping fun, transforming it into an experience. His department store became …
Consumers are tired of soft pants, Zoom calls, Netflix, and a lack of face-to-face connection. And they want to move, move into the real world, and a lifestyle that they might have neglected before the pandemic. Consumers are anxious to make things right. That means buying stuff that matters to them; running shoes, e-bikes, yoga …
Why Reviews Matter Now, more than ever, people are reading reviews before making purchases online. Since the beginning of March until now, 53 percent of people who mention reviews say they bought. Through our lens of over 5,700,00 aggregated reviews collected over five years, this marks the first time that figure has hit over 50 …
While it’s not breaking news that mega retailer, Amazon, has shifted emphasis to selling essential goods, what you may not know is Channel Signal’s review volume data now shows Amazon being eclipsed by other online retailers in certain sectors. Consumers report through reviews that Amazon’s delivery times are longer, many non-essential goods are no longer …
Walkin’ I’m walkin’, yes indeed, and I’m talkin’ ’bout you and me I’m hopin’ that you’ll come back to me (yes) I’m lonely as I can be, I’m waitin’ for your company I’m hopin’ that you’ll come back to me – Fats Domino These first lines by one of the great original rockers, hits so …
Making Online Shopping Easier Return It If the shoe fits, wear it. If not, return it. This old adage may have been fitting in the pre-pandemic online shopping era, known as “buy-try.” Now, as returns top the list of concerns for shoppers buying basically anything online, we decided to take a deeper dive into the …
Are you getting pressure to measure sales and sales alone? Revenue and Profit are critical metrics, no doubt. Unfortunately they are they are focused on the past. A sale does not forecast a future sale. But there are metrics that can help you accurately predict sales. Let’s contrast these two indicators. Lagging vs. Leading Indicators …
Product Reviews are Leading Indicators of a Product’s Performance Read More »
We received a lot of feedback from last week’s article stating 78% more people trust product reviews than ads. If you found that number to be astonishing, take a look at what major companies are spending on ads: Procter & Gamble ad spend: $6.71B (Bizjournals) L’Oreal ad spend $2.2B (Howmuch.net) The North Face ad spend: …
Consumers Find their Personal Stories Mirrored in Reviews Read More »
What percentage of your customers take the time to write a review? It’s a number most businesses could acquire with some ease. What we do know is that across industries, the average is 10%. We also know that a staggering 90% of consumers read online reviews. Again, this could vary by industry, but these two …
What is the 10/90 Rule of Reviews? [Infographic] Read More »
