Marketing Factoids

  • Only 16 percent of consumers trust what they read on blogs source ›
  • Music sales in the United States will decline to $9.2 billion in 2013, from $10.1 billion this year. source ›
  • Acquiring a new customer costs about five to seven times as much as maintaining a profitable relationship with an existing customer source ›
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JUL 2007

At Last, the Reviews Are in: Wal-Mart Wakes Up to the Power of the People†

Retail Giant Makes a Big, if Belated, Push Into the Social Web

Advertising Age, July 23, 2007 — The road to online retail dominance, as Wal-Mart is finally figuring out, is paved with customer content. The company's announcement that it's allowing consumers to review and rate products on its website is a big, if belated, push by the stodgy giant into the social web, following scores of other retailers who have realized the power of crowdsourcing and co-creation. But all Web 2.0 good vibes aside, the real benefit may turn out to be how it affects the performance of the Wal-Mart online store and the goods its sells in search-engine rankings, a crucial factor in the performance of online retailers.

Category: Brand Strategy
Tag: Wal-Mart

Related Factoid

80% of shoppers have more trust in brands that feature reviews and that 75% of shoppers say it's extremely or very important to read customer reviews before making a purchase (Wal-Mart.com online research)

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