Norwegian tech firm Lipscore aims to expand its footprint in Sweden and is surprised by the lack of customer reviews among Swedish e-retailers, potentially missing out on increased revenue and customer trust.
In connection with its interest in the Swedish market, Lipscore conducted a study in March 2021 to examine how various Swedish e-commerce companies handle and present customer reviews. The study found that 45% of the surveyed e-retailers do not display customer reviews at all, while another 34% struggle to obtain them. Ole Martin N. Evensmo from Springboard Martech, who analyzed the data, expressed surprise at the findings. According to him, product reviews have a significant positive impact on conversion rates, SEO, and customer trust—factors that contribute to higher revenue. Evensmo noted that this has been a focus area for Amazon for many years and was surprised that Swedish e-commerce firms are not placing more emphasis on it.