A recent study reveals that Swedish e-commerce platforms are falling behind in collecting customer reviews, potentially missing out on increased revenue and customer trust.
A study conducted by Springboard Martech on behalf of the tech company Lipscore has found that 45 of the 100 largest e-commerce companies in Sweden lack customer reviews on their websites. Additionally, 34 of the surveyed companies struggle to obtain such reviews.
Ole Martin N. Evensmo, who leads Springboard Martech and is also the founder of Ehandel.com, states that product reviews significantly impact conversion rates, SEO, and customer trust, which ultimately contribute to increased revenue. Evensmo observes that Swedish e-retailers are lagging behind their Norwegian peers in this regard. He believes that this shortfall may partly stem from companies’ fear of receiving negative feedback, which prevents them from allowing customer reviews on their platforms. Henning Frettem, the CEO of Lipscore, emphasizes that customer reviews offer valuable insights not only for consumers but also for company management. He points out that some Norwegian retail chains and online stores have begun to use customer reviews strategically, thereby creating value for both customers and the businesses themselves.