Shoppers place so much trust in independent online reviews of services like hotels and restaurants that they are willing to pay almost twice as much for them, according to a comScore study reported by ClickZ.
The study found that online, consumer-created reviews have a big impact on prospective buyers, so much so that people are willing to pay up to 99% more for services after reading positive online reviews about them.
Almost 25% of those who eventually pay for local services – anything from restaurants or hotels to mechanics – read online reviews before making a choice, the study of over 2000 internet users in the US found.
The study showed consumers were so trusting of online reviews, they were willing to pay at least 20%, and up to 99%, more if a company was rated excellent or five-star than if a business received a good, or four-star, rating. The study was based on 2078 survey respondents, including 508 who used online consumer reviews.