Technology Review Platforms Statistics 2024

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In an era where digital transformation dictates the pace of business development, technology review platforms have emerged as pivotal tools for navigating the vast and often overwhelming tech landscape. As we step into 2024, understanding the statistics surrounding these platforms is not just insightful but crucial for unraveling the intricacies of the business environment. These data points offer a clear lens through which the effectiveness, adoption rates, and market dynamics of various technologies can be assessed, ultimately serving as a compass for organizations aiming to thrive in a competitive market.

Key stakeholders including business leaders, tech entrepreneurs, IT professionals, and investors will find these statistics indispensable. For business leaders, these insights can aid in strategic decision-making and staying ahead of tech trends. Entrepreneurs and startups can identify market gaps and opportunities, while IT professionals can leverage these insights for integration and implementation of cutting-edge solutions. Investors, on the other hand, can utilize this data to gauge the viability and potential of emerging technologies, guiding their investment decisions in an informed manner.

In conclusion, delving into this comprehensive analysis of technology review platforms will illuminate paths to innovation, efficiency, and growth. By anchoring strategic decisions in robust data, stakeholders across the tech ecosystem can better navigate the dynamic and fast-paced industry landscape, ensuring their ventures not only survive but flourish in 2024 and beyond.

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Top Technology Review Platforms Statistics 2024

☰ Use “CTRL+F” to quickly find Technology Review Platforms facts. There are total 66 Technology Review Platforms Statistics on this page 🙂

General Impact Of Online Reviews

  • 88% of consumers worldwide make the effort to consult reviews when discovering a local business. [?]
  • 62% of consumers say reviews play a big or moderate role in finding out more about a business. [2]
  • 65% of consumers have read an online review in the past week, while up to 94% say they’ve done so in the past year. [2]
  • 62% of consumers will not support brands that engage in review censorship. [2]
  • 62% of consumers have no tolerance for fraudulent reviews and believe that they should be removed. [2]
  • 49% of all consumers say they trust the reviews they read online as much as personal recommendations. [2]
  • 57% of consumers believe that online reviews are very important when it comes to selecting businesses that provide care services. [2]
  • Only 15% consider reviews to be as important for retail stores. [2]
  • 93% of consumers read online reviews before making a purchase. [3]
  • 58% of consumers would be ready to pay more or travel further to visit companies with good reviews. [3]
  • 94% of consumers have avoided a company because of its negative reviews. [3]
  • 81% of consumers use Google to read reviews and evaluate local businesses. [6]

Trust And Influence

  • 74% of consumers say that reviews increase trust in a company. [8]
  • 49% of consumers trust online reviews as much as personal recommendations from friends and family. [8]
  • 84% of B2B buyers use review sites to make purchase decisions. [5]
  • 82% of B2C consumers find online reviews more authentic and influential than marketing claims. [5]
  • 91% of 18-34 year-olds trust online reviews as much as personal recommendations. [11]

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Consumer Behavior

  • 70% of consumers say helpful online reviews are one of their primary reasons for visiting the site. [1]
  • 80% of shoppers used a mobile phone inside of a physical store to either look up product reviews, compare prices, or find alternative store locations. [1]
  • 64% of consumers are more likely to buy a product after watching a video about it. [1]
  • 77% of mobile shoppers are more likely to purchase an item if the website or app offers product reviews. [1]
  • 62% of customers are likely to make a purchase after seeing photos and videos from other customers. [11]

Review Platforms

  • Google is by far the most popular channel people turn to for reviews, with approximately 59% of shoppers using it. [2]
  • Only one in five consumers say they fully trust the reviews on brands’ websites, while a staggering 70% say they somewhat trust them. [2]
  • Yelp reaches over 142 million consumers monthly and features more than 192 million reviews. [4]
  • The top four online review sites (Google, Yelp, Facebook, TripAdvisor) account for 88% of all reviews. [4]

Impact On Business

  • A 0.1-star increase in a brand’s average rating can increase the conversion rate by 25%. [1]
  • Businesses that respond to reviews are 1.7X more trustworthy than businesses that don’t. [1]
  • Positive reviews make 73% of consumers trust a local business more. [1]
  • Only 13% of consumers will consider a business with 1 or 2 stars. [1]
  • 49% of consumers need at least a four-star rating before they choose to use a business. [1]
  • Reviews that only gave 1 or 2 stars failed to convert 86% of prospective customers. [1]
  • 45% of companies do not ask users for feedback once the chat has ended. [1]
  • Consumers read an average of 7 reviews before trusting a business. [1]
  • 87% of people write online reviews because they want to share good experiences with others. [1]
  • 30% of survey respondents between ages 18 and 44 look at reviews before every single purchase. [1]
  • 52% of consumers say they would not book a hotel that doesn’t have reviews. [1]
  • 46% of online buyers check star ratings before committing to an online purchase. [1]

Review Response

  • 97% of shoppers who read reviews online also read responses from businesses. [2]
  • 45% of consumers are more likely to support businesses if they see that they’ve responded to negative reviews. [2]
  • 53.3% of customers expect businesses to respond to their negative reviews within a week. [2]
  • 63.3% say they’ve never heard back from a business about their review. [2]
  • 53% of consumers expect a response to negative reviews within a week. [2]

Review Statistics By Sector

  • In the healthcare industry, the average review rating in the last 3 months was 3.06 stars. [1]
  • Restaurant businesses are the most reviewed category on Yelp in 2019. [1]
  • 19% of local restaurants could use Yelp as a business awareness tool. [1]
  • 61% of people state that online reviews contribute to their decision when choosing a doctor, dentist, or any other type of healthcare provider. [9]

Review Impact On Revenue

  • A one-star increase on Yelp leads to a 5-9% boost in revenue on average. [13]
  • Businesses with more than 200 reviews earn 82% more in annual revenue than businesses with below-average review quantity. [7]
  • Product pages with customer reviews experience 3.5 times more conversions than those without. [2]

Review Habits

  • 71% of consumers are more likely to use a business that responds to online reviews. [11]
  • 68% of travelers decide against visiting an attraction or excursion because it appears to be a tourist trap. [12]
  • 75% of businesses do not respond to any reviews. [12]
  • 80% of consumers were prompted by a local business to leave a review in 2022. [6]

Demographic Insights

  • 82% of consumers aged 18 to 54 claim to always consult reviews of local businesses online. [2]
  • 29% of consumers over 55 say they never read online customer reviews of local stores. [2]
  • 72% of millennials don’t trust traditional advertising and rely on online reviews. [15]

Satisfaction And Feedback

  • 87% of B2B review site readers claim to have written a review. [5]
  • 41% of customers feel a brand is trustworthy, and 14% believe that products are high quality when businesses respond to reviews. [7]

Negative Reviews

  • 82% of consumers look for negative reviews to get a balanced view before making a purchasing decision. [7]
  • One negative review requires around 40 positive reviews to make up for it. [10]

Review Statistics Specific To Platforms

  • Google reviews are the most trusted, with 72% of users trusting online reviews as much as personal recommendations. [14]
  • 94% of local businesses that use reputation management tools see a return on investment. [11]
  • 93% of consumers read online reviews before making a purchase, a significant increase from previous years. [9]

Behavioral Insights

  • 48% of consumers only read reviews written within the previous two weeks. [6]
  • 40% of consumers expect a business to have at least four stars before they consider making a purchase. [4]

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