The latest PIM trend study by novomind, the Hamburg-based IT service provider and product information management (PIM) specialist, examined the influence of product data on purchases in online shops. A key result of the study shows that 81 percent of online buyers consider customer reviews to be “important”. Moreover, young Internet shoppers attach greater importance to customer reviews than older ones.
Credibility has a strong impact on revenues
Product reviews play an important role in e-commerce. In fact, for most online shoppers they are one of the key purchasing criteria that encourage them to click the “buy” button. Some 80 percent of the online buyers consider reviews to be “important”. These are the results of a study entitled “Trendstudie PIM - Produktinformationen als Umsatztreiber in Online-Shops“ (PIM trend study - product information as a sales driver in online shops) and conducted on behalf of novomind AG. The survey covered 1,000 online shoppers aged 14 or older from all over Germany who had made a purchase on the Internet in the past 12 months prior to the study, which was carried out at the beginning of the year. “We found this result very surprising, especially in view of the discussion about fake and sponsored product reviews,” says Markus Rohmeyer, Head of PIM at novomind. “It shows that positive reviews and assessments continue to encourage purchases on the web. It is above all their credibility which has a strong impact on sales in online shops.”
The study also shows that it is primarily buyers of electric appliances, household ware and babyware, clothing and accessories as well as furniture who attach great importance to product reviews. By contrast, buyers of food products tend to pay relatively little attention to reviews from other customers. Only 66 percent of them stated that customer reviews are very important to them. Another striking result is that buyers who regularly visit certain shops pay especially great attention to reviews from other customers. Their share is as high as 87 percent.
The study also concluded that older Internet shoppers aged 51 and above pay less attention to reviews. In this age group, only 73 percent of the respondents consider customer reviews to be relevant. This compares with 87 percent in the 21-35 years age group who believe it is important what other customers think about a product.
The “PIM 2013” trend study from novomind involved an online survey on “Product information as a sales driver in online shops”. The study examined the influence of product data on product purchases in online shops. Carried out for the second time, the study was targeted at 1,000 online shoppers aged 14 and above who had made a purchase on the Internet in the 12 months preceding the period covered by the study (27 February to 5 March 2013).
Since 1999 Hamburg-based novomind has been developing innovative eBusiness software solutions for the modern Internet world in four e-business segments: eCommerce (eShops and zoom server), PIM (Product Information Management), eMarketplace (marketplace integration) and eCommunication (solutions for contact and service centres).
In each of these performance segments, novomind ranks among the technology leaders in Europe. The company covers the entire digital value chain of trade and electronic customer communications.
In the PIM segment, the company has pooled its experience in the novomind iPIM™ standard enterprise product information management software. novomind AG currently serves more than 80 companies, including C&A, frontlineshop, Der Club Bertelsmann, Ernsting’s family and OTTO in the eCommerce segment.