Impact

Our study shows that product ratings are growing in importance, that they are impacting shopping behavior and brand loyalty. But the real change is the balance of power shifting toward the consumer. By leaving ratings, they are able to quickly share their experiences with other potential buyers, thus heavily influencing which products and companies are successful. Additionally, the “rating economy” is improving the market place for the consumer, so they are overall more empowered and satisfied.

More value for money

More than 50% of consumers think they get more value for money thanks to ratings. 41% state they feel better informed, and a quarter makes fewer bad purchasing decisions.

Consumers feel they get more value for money


Change in behavior by industry


 

Again, there are clear differences across industries (with consumer electronics and travel & hospitality leading the field) and countries, where the geographic differences are accounted for by age and residence of the respondents: Younger and more urban people feel they get more value for money based on ratings, as they are also placing higher importance into the rating trend itself.

Consumers feel they get more value for money


 

Summary

Overall, ratings have a lot going for the consumer. They allow them to have a better understanding of a product’s value even before they buy it, they trigger their emancipation from marketing messages and thus shift the balance of power toward the customer. Considering how important ratings are for the “forerunners” consumer electronics and travel & hospitality, we can expect ratings to continue impacting the behaviour of both customers and providers. So the future is looking bright for consumers. But also for companies, the rating trend has positive aspects: Positively rated products are highly valuable for companies, as around a fifth of consumers are ready to pay more for those products.