Drill down into internet demographics with an overview of how age plays a key role in online reviews.
Younger people are supposedly more web-savvy than older people. So are they more influenced by online reviews? Trustpilot has recently conducted research, summarised in the Trust Economy Report, which sheds light on the future of Ecommerce . . .
16-to-24-year-olds are most influenced by online reviews, with 44% stating they would spend at least:
25% more money with a business that they’d read a positive online review about.
However, the 16–24 age group is also the most likely to write a negative review to ensure that “other people don’t get burned”.
But take heart . . .
29% of 16-to-24-year-olds are more likely to purchase from a company after reading a negative review that was successfully resolved by the affected company.
“The younger your target audience, the greater the potential rewards reaped from online reviews – but be warned, there’s a greater chance of a backlash if you should get something wrong and aren’t seen to be making it right.”
The older a consumer is, the more likely they are to leave a positive, rather than a negative, review.
“For companies dealing with an older market, offering their customers the chance to leave feedback would be a wise option.”
Looking to position the right product at the right price, all for the right market?
Here’s a breakdown of how much each age group spends online per year:
£0–£250
16–24
£251–£1,000
25–34
£1,001–£2,000
35–44
£2,001–£4,000
45–54
Over £4,000
55+
“The findings speak for themselves – the younger your customers are, the less disposable income they have, so best to offer them lower-priced items. While the over 55s have more disposable income and ergo are more open to purchasing big ticket items online.”
Online review communities’ most vocal age group is:
16-24-year-olds, 66.70% of which have written an online review.
The second most prolific reviewers are:
55+, 61.40% of which have written an online review.
“Never mind internet demographics – young or old, consumers are embracing the power of writing online reviews, so don’t get left behind.”
- Young markets may be the most swayed by online reviews – but they can also be among the most critical.
- The over 55s market presents a real opportunity for marketers; they’re more likely to leave positive feedback and spend more money than other age groups.
- All age groups are embracing the power of online reviews – and so should business.
