Trust is no longer the domain of the brands alone. Today, trust is in the network—in groups of interconnected “people like me.”

So how are brands reacting? Resource Interactive and Bazaarvoice™ heard from over 100 retailers and learned how different forms of user-generated content, including ratings and reviews, impact their businesses today, and what they envision for their future.

Here’s an overview of what we heard:

• 53% of online retailers currently allow for user-generated content (UGC) on their site.
• 51% of online retailers that do not currently have any form of UGC on their site say they are extremely likely or very likely to deploy some form of UGC in the future.
• Both users and non-users of UGC identified increased conversion, increased customer satisfaction and customer loyalty as the business metrics that would be most impacted by online UGC.

With consumers turning to each other for information and opinions, retailers can deliver a destination for consumers to have a dialogue. The retailers that provide consumers with the tools to aid in purchase decisions will win in the long run.

Read more:
User-Generated Content white paper