Will online reviews keep their reputation as Teflon? – RetailWire
Jul 02, 2021
A number of reports indicate that user-generated online reviews are besieged by fraudulent posts. Despite this, a YouGov A new survey has shown that most consumers trust the reviews they read online.
Among American respondents to the survey conducted at the end of April, 54% say they trust these sites, 21% say they are suspicious and 24% are undecided. Among 18-39 year olds, 66% say they trust review sites. Overall, 78% of Americans found online reviews helpful.
The reliability of reviews is questioned by the UK Competition and Markets Authority (CMA), which launched an official investigation on June 25 to find out whether Amazon.com and Google are doing enough to fight fake reviews.
“Our concern is that millions of online shoppers could be misled into reading bogus reviews and then spending their money based on those recommendations,” said Andrea Coscelli, CEO of CMA, in a statement. declaration. “Likewise, it’s just not fair that some companies can fake 5-star reviews to give their products or services the utmost importance, while law-abiding companies lose out.”
On June 16, Amazon in a blog entry called on social media companies for not doing enough to weed out dishonest reviews. Amazon said less than one percent of reviews on its platform are fake, but noted in the statement that the company had shut down more than 200 million suspected fake reviews in 2020 before they were seen by consumers. clients.
Fake reviews online 2021 report from CHEQ and the University of Baltimore have estimated that about four percent of global reviews of major platforms are fake. Beyond attacks from competitors, fake reviews are often created and sold in underground markets at a commission rate of 25 cents to $ 100 per review, according to the report. Increasingly, they’re written by AI-driven bots linked to paid search and social media campaigns.
“Given the size of the market, the ease of entry, and the immediate economic benefits, there is still a strong incentive for bad actors to engage in bogus reviews,” Roberto Cavazos, co-author and director of management programs. risks and cybersecurity at the University of Baltimore, told Safety info magazine. “This complex market negatively influences our purchases, causing significant economic damage, creating real lost revenue for businesses and dramatically lowering confidence in online shopping.”
DISCUSSION QUESTIONS: How come fake online reviews haven’t yet negatively affected consumer confidence levels? Will the ubiquity of fake reviews likely increase or decrease over the next several years?
“The online review process needs to be improved, otherwise consumer skepticism will increase and ultimately the value of reviews will decrease. “