Fast Casual Infographic: The Power of Online Reviews
Last week, Fast Casual published an infographic titled How Online Reviews Can Make or Break Your Brand. We think this infographic is incredibly useful to SMBs and local businesses. Thanks to Fast Casual for producing this helpful resource.
Here are some of the key takeaways from the article:
- 68% of millennials trust online reviews most, as opposed to only 34% who trust television advertisements.
- For every star a business receives, sales (on average) increase from approximately 5 to 9 percent
- 22% of consumers will not buy a product after reading a negative review about it.
- 90% of consumers read less than 10 reviews before forming an opinion.
- The businesses most impacted by online reviews are in the hospitality segment – restaurants, hotels, doctor’s offices, hospitals and hair salons being the top five.
About Fast Casual:
Since 1997, FastCasual.com has reported on the important news, events, trends and people in the $23.5 billion fast casual restaurant industry segment. They reach a global audience of industry professionals looking to track the latest food and beverage trends, top markets for growth and hot concepts. Their site features a directory of product and service providers as well as slideshows, videos and research. For more information, visit fastcasual.com.