Bazaarvoice, Inc., the provider of user-generated content (UGC) and shopper data solutions, released its annual Shopper Experience Index. Based on data from over 6,000 websites in the Bazaarvoice Network, a survey of more than 500 brand and retailer clients, and a global survey of more than 2,000 consumers, the Shopper Experience Index explores the influential role of UGC throughout the shopping journey, the importance of authentic, personal connections with consumers, and what e-commerce strategies brands and retailers are focusing on in 2019 and beyond.
Analyzing Bazaarvoice Network data comprised of 5.8 billion monthly product page views and over 66.8 million reviews and 2.2 million photos submitted in 2018, the Shopper Experience Index reveals that best-in-class brands and retailers who make UGC available to shoppers achieved on average 137% conversion lift and 157% lift in revenue per visitor. Additionally, Bazaarvoice found that:
- The value of reviews extends beyond online sales: 63% of Bazaarvoice clients rely on ratings and reviews to boost SEO performance, 53% to improve in-store sales, and 52% to foster brand loyalty.
- From research to purchase, mobile matters: 57% of all page views across the Bazaarvoice Network came from mobile in 2018, and; when shoppers engage with UGC on mobile, the conversion lift is 136%, slightly higher than it is for desktop shoppers.
- Seamless social commerce is a priority: Nearly half of Bazaarvoice clients said integrating social media and online shopping experiences will be a top priority or increased area of focus over the next 12-18 months.
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The sheer volume of shopping activity we see across the Bazaarvoice Network gives us a unique perspective into consumer behavior,
said Bazaarvoice CRO Joe Rohrlich. We publish the Shopper Experience Index to give brands and retailers insight into the impact of ratings and reviews on how shoppers discover, evaluate, and purchase products, and to highlight key trends and areas of opportunity for the broader industry.
With competition across the retail and e-commerce landscapes heightening, brands and retailers are striving to provide engaging, efficient shopping experiences for consumers. Bazaarvoice found that engaging consumers in conversation, including visual UGC across the shopping journey, and partnering to ensure shoppers have the information they need to make informed purchase decisions are key to driving sales and customer loyalty.
- Shoppers crave interaction before a transaction: Product pages with Q&A experienced a 447% higher conversion rate compared to those without, regardless of shopper engagement.
- Visual content is essential to online shopping: More than half (59%) of brands and retailers said that featuring photos and videos from customers throughout the shopping experience is standard in e-commerce.
- Ratings and reviews syndication is a mutually beneficial partnership between brands and retailers: When brands syndicate reviews to retailers, the median increase in reviews per product is 83% greater than those without syndication; similarly, half of Bazaarvoice retailers source 65% or more of their reviews from brands.
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The retail landscape has continued to shift over the last year, as modern consumers seek unique shopping experiences, new engagement and purchase channels and an increased level of brand and product transparency and authenticity,
continued Rohrlich. Brands and retailers that recognize these evolving preferences and deliver informative, interactive experiences online and offline can both retain their existing customers and attract new ones.
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