Internet Retailer and Vovici recently released a study to find out the top emerging technology priorities for online retailers. As retailers are feeling the heat (or lack thereof!) of a slow economy, Ratings and Reviews rose to the top of their priority list. Emarketer reports:

Letting customers rate products on e-commerce sites is the top Web 2.0 spending priority, according to online retailers in the US surveyed in August 2008 by Vovici for Internet Retailer. Well over one-half (57%) of online pure plays said customer ratings and reviews were a priority for them.

Internet Retailer said online merchants wanted these features because they drove sales. It also noted that PetsUnited, which operates 10 e-commerce sites, reported a 50% jump in average sales when shoppers ordered right after viewing a video, compared with after viewing just text and pictures.

“Shoppers that view videos and read customer ratings and reviews spend more,” said Corbin de Rubertis, president of retail widget developer Qponix, in the Internet Retailer article. “Even in a weaker economy, retailers are going to spend money on better technology if it drives traffic and converts sales.”

Emarketer also recites a study we launched with Vizu highlighting the importance of reviews to retailers:

Last year I wrote this article highlighting why ratings and reviews are the highest NPV marketing investment, and why they should get launched before the holidays. Coincidentally I wrote it one year ago yesterday, and it’s still as relevant. You’ve got a few months left. Now is the time to move!

2 Responses to “Internet Retailer Study: Reviews Top Priority for Retailers in Tough Economy”

  1. Von Wright

    This is outstanding information for me. I’m just wrapping up my first product for sale on the internet. I don’t think many distributors and independent business owners realize how important it is to first be knowledgeable of various marketing techniques and technology, but also to keep reading to stay on top or your game. I’ve just decided the only way to change my life and current situation is by starting my own business and that comes with a lot of research before,while and during the building of my company. Thanks for all of this. I am going to stay conneted with you and your team!

  2. Von Wright

    This is outstanding information for me. I’m just wrapping up my first product for sale on the internet. I don’t think many distributors and independent business owners realize how important it is to first be knowledgeable of various marketing techniques and technology, but also to keep reading to stay on top or your game. I’ve just decided the only way to change my life and current situation is by starting my own business and that comes with a lot of research before,while and during the building of my company. Thanks for all of this. I am going to stay conneted with you and your team!

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