The value of peer reviews in the online marketplace

Before you go to a restaurant, you check out reviews on Yelp. Before you switch brands of detergent, you see what other shoppers are saying on Amazon. Before you make vacation plans, you look at reviews on TripAdvisor. Today, peer reviews are no longer at the margins of the consumer experience – they are at the dead center. A June 2015 study found nearly seven out of 10 Americans seek out opinions before making online purchases. Put simply, we are crowdsourcing the shopping experience. Instead of asking a handful of friends what to buy, we are...
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