Trustfeed Anticipates Strong Growth in 2023 on McKinsey Online Reviews Analysis
The McKinsey study analyzed a large sample of consumer goods companies and found that those with high ratings and positive reviews on major e-commerce platforms experienced significantly higher unit sales growth and revenue growth compared to their peers with lower ratings and negative reviews. McKinsey discovered that revenues from consumer durables with ratings of 3.7 or higher were five times higher than those from lower-rated products.
The results of the McKinsey study have significant implications for businesses, as they demonstrate that investing in building a positive online reputation can have a significant impact on sales and revenue growth.
That is good news for
Through
It is also good news for
The study findings serve as a reminder that businesses must take a comprehensive approach to online reputation management, paying close attention to both the quantity and quality of online reviews.
McKinsey Report: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/use-star-ratings-to-inform-durable-goods-redesigns-and-spur-growth
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