The Future of Retail is Reputation
In an era of growing distrust, there’s no denying how crucial reputation is for a business. Several businesses underestimate the power of a review, so the team at Trustpilot surveyed 1,700 shoppers to prove the naysayers wrong. We recently published a report with conclusive data that shows brand reputation and reputation management are critical to a company's success.
Our report shows a whopping 90 percent of online shoppers have chosen not to purchase from a company because of its bad reputation. The results are astoundingly favorable toward keeping a good online reputation. A few key findings include:
- Online reputation is the No. 1 way to improve trust with customers.
- More than 93 percent of consumers said they read reviews before buying online from an unfamiliar company.
- The biggest factor that decreases customer trust is when companies delete negative reviews.
- Nearly 48 percent of online shoppers have recommended a brand to others because of its stance on social issues.
Don Ross is President of Americas at Trustpilot, the world's most powerful review platform.
Don joined Trustpilot in October 2016. Formerly the CEO of Bankrate.com, he and his team grew the personal financial service website’s revenue from $79M to over $550M in under nine years. Don works to further grow Trustpilot’s business and revenue, and cement its position in North America. Previously, he served as the Senior Vice President of Sales & Marketing at Harris Connect, Inc. and SVP of Sales at Worldweb.net. Don holds a Masters of Marketing & Advertising from Michigan State University and Executive Education in Sustainable Marketing Leadership from Harvard Business School.